Krones AG, a leading provider of filling and packaging technology, has reported a strong start to the fiscal year 2025, with its stock reaching near-record highs. The company's shares have surged by 37% since April, driven by robust quarterly results and a solid order book that ensures capacity utilization through the first quarter of 2026. Analysts attribute this performance to the company's resilience in markets less susceptible to economic fluctuations and the sustained investment willingness of its customers.

The first quarter of 2025 saw Krones AG achieving an order intake of 1,435.9 million euros, marking a 6.8% increase over the fourth quarter of 2024. Revenue also saw a significant uptick, growing by 13.1% compared to the previous year, to 1,410.0 million euros. This growth, even excluding the impact from the acquisition of Netstal Maschinen AG, aligns with the company's full-year growth forecast of 7% to 9%. The EBITDA margin improved to 10.6%, up from 10.1% in the prior year, further underscoring the company's profitable growth trajectory.

Analysts have lauded Krones AG for its strong performance and strategic positioning. Sven Weier of UBS highlighted that the company's full-year targets are already ahead of initial expectations, bolstering investor confidence. Meanwhile, Thorsten Reigber from DZ Bank pointed to the company's full order book as a key factor providing high predictability for investors in a challenging economic environment. The upcoming Drinktec trade fair in September is also seen as a potential catalyst for further growth, offering Krones AG a platform to showcase its latest innovations.

Despite the broader economic uncertainties, Krones AG has confirmed its forecasts for the full year 2025, expecting revenue growth of 7% to 9%, an EBITDA margin of 10.2% to 10.8%, and a return on capital employed (ROCE) of 18% to 20%. The company's ability to maintain a profitable growth course in difficult conditions speaks to its operational excellence and the enduring demand for its solutions in the beverage and liquid food industries.