Krones AG (OTCPK:KRNTY)

$ 65.9 0 (0%) Market Cap: 4.16 Bil Enterprise Value: 3.85 Bil PE Ratio: 4.50 PB Ratio: 2.06 GF Score: 87/100

Q2 2020 Krones AG Earnings Call Transcript

Jul 30, 2020 / 12:00PM GMT

Release Date Price: $33.81

Transcript

Operator

Welcome to the conference call of Krones AG. At our customers' request, this conference will be recorded.

May I now hand you over to Mr. Christoph Klenk, CEO; and Mr. Norbert Broger, CFO. The call is yours, gentlemen.

Christoph Klenk

Krones AG - Chairman of Executive Board & CEO

Yes. Good afternoon, and a warm welcome, ladies and gentlemen, on behalf of Krones, Norbert Broger and myself. Before we start with the presentation, a short remark from my side before we jump into. Of course, we have all COVID-19 in our mind. And of course, it's the major issue for Krones at the moment to deal with short and midterm. Of course, short term, we have to manage the underutilization with all its consequences. And you will hear today a lot how we did that and how we are doing that. Of course, in midterm, we have to manage the recovery and how we achieve, at least for the profitability, our midterm targets.

At present, it is too early from our point of view to give a reliable forecast for 2020. We have still a very dynamic development of COVID-19 in

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