Krones Ag Adr

Up to you, Olaf.

So I think let's start. Good afternoon and a warm welcome from my side. My name is Olaf Scholz, head of investor relations here at Crohn's. We have presented this morning our preliminary figures for the fiscal year 25. So Crohn's continued profitable growth in 25 and we forecast also a further revenue and profitable growth for 26. Next to me is Christoph Kleng and Uto Anders. They will give you more details about these figures and also additional information. And we will also talk about the 26 targets. After the presentation, you will have the opportunity to ask questions. I think you also know how the Q&A session works. Please use the function Raise Your Hand in Teams or send me just a short email and then I will hand over to you. Additionally, please be reminded that this meeting will not be recorded and that it is also not allowed to record the meeting. Please also deactivate any functions of recording at Teams. So, I think we can start with the presentation, and I will hand over to Christoph Bank, CEO of Croze.

Yeah, Olaf, thank you. Warm welcome, ladies and gentlemen, on behalf of Uta and myself, to our preliminary figures for 2025, and of course, to how we see 2026, and looking forward then, of course, answering your questions. I will skip as always I would say the beginning of the slides because this has been actually working as a summary for you that you can see all in a condensed way and you even over the numbers I will skip because we go in detail anyway I can say if you see here the numbers at the end of 2025 and seeing the results we are extremely happy Before I continue, I want to extend a big thank you to the Crohn's team globally. So 21,000 people having made this success possible because, you know, we're dealing with 160 countries around the globe and quite complex lines and businesses. And once somebody is failing, some projects are failing totally. So everybody is important in our team, and that's why we are so thankful that we have achieved those numbers with the team together. Before I go ahead, we had various challenges in 2025. I just want to name them. Not all of them, because then we would stand here an hour, but at least three of them. First of all is Middle East, because we all forgot that in the beginning of the year, Middle East was pretty much under pressure with the strike of Israel and the United States in Iran, which actually affected the whole region. Then, of course, we had the tariff issues during the year and should not forget that FX issues will affect and has affected our businesses as well. On the other side, we had a highlight with Spring Tech. You have been all being invited to that, seeing the engineering line and what we are doing with that into the services we are delivering. And, of course, with Prefero, the NETSTAR acquisition and the, let me say, combination of the NETSTAR machines and the Crowns machine. So that's the highlights. And, again, thanks to our team that all those things have been working out. um yeah numbers you see here and these are the green tick marks that we have actually achieved what we have promised and that's the most important thing for us for myself that we once again have been robust in the statements we have made and that we have been achieving our targets from this on jumping into more details order intake i mean we have said all the time that auto intake will be around one with the book to blue ratio. And this is actually what we have achieved. Yes, we have been and this is very obvious, we have been short 100 million with auto intake in comparison with the sales we have done. But nevertheless, I would like to put that into context what we have seen in 2025. I said it in the beginning, I mean, the beginning of the Middle East was a bit shaky because of what I have said earlier. Then, of course, we had a tariff issue, which I'm reflecting later on when we go to the split into the regions, how this affected North America. But this has been two challenges. And number three, and this is on the positive note, this is very important for us, that we have maintained price stability. I mean, for those of you knowing us for a longer period of time, in particular, those times before COVID rising was all the time an issue. And since I would say Let me say the markets are a bit more under pressure than before. For us, it was very important that we had a very close eye on pricing and we kept price stability. Some of those, let me say, actions have been that we have been losing some of the orders just to make sure that the signal into the market is crystal clear. That's the remark I wanted to do here. If we look to 2026, because Uta and myself, we have agreed on that once we go through the presentation here, we give you all the time. Let me say the few in 2026, of course, you will see a summary at the end. But as you have seen, book-to-bill ratio in 2025, around one, which is actually 0.98, if you put it exactly on it, the 100 million short, I'm just saying, we are looking about a book to bill ratio slightly above one for 2026. So that means we will be higher than sales and we will have in or the intake a higher growth than we will have in sales. So that's the statement we are doing. And this is based, of course, always on, let me say, our interviews we have done with our customers by late 2025. And I would say what we see right now in the market looks good for Q1 to confirm what I have just said. so that's for all the intake and i assume you will have later on certainly more questions to it or the backlog yeah that has decreased slightly but only slightly and this has been on purpose because our point was our delivery times have been too long fortunately we have been able to decrease that to around 40 weeks right now and in particular let me say orders we are even going further down so we have shortened that and we can say that as of today we don't lose orders because of delivery time so we have been arrived into the competitive landscape again on where we should be and that's important for us that this is not a reason that we are going to lose orders on the other side it actually provides a very nice and stable fundament for the let me say economical development of crowns in 2026 so we are well booked into the third quarter so very important for us because that gives us the visibility on our statements um but more to say again by purpose we are happy to decrease that because we need short delivery times now from the market perspective how do we see things number one we see customers behaving slightly different than what we have seen in the past i would assume that might be something for q a later on once you want to know more details about that but basically if you look to the split of the regions and this is actually sales it's not order intake you might see that on the left hand side that not in central america in terms of percentage is going significantly down. However, if you look to the absolute numbers, we maintain a quite stable level on sales in North America, and it's roughly, I mean, it's easy to calculate, it's 1.2 billion. So all three numbers are reflecting 1.2 billion, and that has to do with the growth of the other regions, and of course, I named it earlier in the beginning, based on FX reasons we have in that. So that's one thing. If we look to pure order intake, North America 2025, that was decreasing, in fact, by 10%. Of course, in the second half of the year, influenced by the tariffs. But important for you to know, we plan on, let me say, the levels we had seen the year before last in terms of order intake for 2026. Because what we see from our customers, since the shock of the tariffs have been going away, the business cases are still even including the tariffs intact. I think we can talk certainly more about that in the future. or in the Q&A. Second, what is to remark here, even as South America looks pretty good in sales, we have missed the targets there. We had higher expectations to South America. So this was not going too well, to be honest with you. So this is a one critical aspect for 2025. And if you look to Asia Pacific, that has been going down into sales and in order intake, so that as well a critical development in 2025. But now the good news comes, But all of the three markets, North America and Central America, South America and Asia Pacific, we do assume that 2026 will perform better. And we are looking into achieving our targets for 2026. And this, again, because many projects have been postponed, are still active, not lost. And that's the reason why we have hope into those markets. And we will see, from our point of view, good development in 2026. Remarkable Europe. um and middle east africa both of them in sales and in order intake have been growing significantly and in particular middle east and africa have helped to overcome the shortage in order intake in north america and even china from the order intake numbers is an increase in 2026 sales is declining a bit in the sense of generating revenue but we are on a good path in terms of order intake and last but not least you see central Asia and Eastern Europe is doing quite well as well. So even good on track here. So that's from, let me say, the markets, the order intake, and where we are with that. And with that, I am going to hand over to Uta.