Ahmedabad, 24 March 2023: Man Industries (India) Limited, one of India’s leading Large Diameter API Pipe Manufacturing Companies, has inaugurated its new ERW Line Pipe Plant in Anjar,Gujarat. The Company has also started production at the new plant, thereby widening its product offerings and streamlining production by entering into the manufacturing of ERW pipes which will increase the market share of the Company.

The Company has two state-of-the-art manufacturing facilities with 1 facility located in Anjar, Gujarat, having 2 LSAW Line Pipe units & 2 HSAW Line Pipe units and also for various types of Anti-Corrosion Coating Systems and 1 facility in Pithampur, Madhya Pradesh, having a total installed capacity of over 1 Mn+ MTPA.

On the new plant launch announcement, Dr. R C Mansukhani, Chairman, Man Industries (India) Limited, said, “The new plant launch is a momentous occasion for all of us. With this, we are poised to enhance our product mix and capture increasing industry opportunities. The Indian ERW pipe ket is one of the fastest-growing segments, largely driven by new-age applications in the construction sector. Hence, investing in this project was part of our next stage of growth to serve the hydro-carbon and CGD sector.”

“Our goal and aspiration over the next few years are to increase our revenue on the back of better utilization of existing facilities, better absorption of fixed costs, and addition of new products, thereby improving EBITDA margin from current levels.”, he added.

The Company also recently announced that they received a new export order worth approximately INR 1300 crores for the supply of API High-Grade Large Diameter Pipes along with Coating. With this, the unexecuted Order Book now stands at approximately INR 2000 crores to be executed in six to eight months.

MAN Industries (India) Ltd. showcases a strong mounting of the business environment and the trust that customers have in the company’s state-of-the-art technologies, industry expertise, and execution capabilities. The Company holds an impeccable track record of uninterrupted profitability, dividend, and meeting all its financial commitments in the challenging and growing business environment.

Mumbai, 24 March 2023: Aereo (formerly Aarav Unmanned Systems), the leading Indian end-to-end drone solutions start-up wins the largest drone solutions contract from Coal India Limited (CIL). The open tender process saw participation from multiple bidders wherein Aereo emerged as the lowest (L1) bidder with the highest technical score. The $1 million contract is part of a bigger digital initiative that is being undertaken by Coal India Limited. Aereo will provide advanced analytics through its proprietary web platform and indigenous survey-grade PPK drones to 7 mines in Northern Coalfields Limited (NCL) and South Eastern Coalfields (SECL) under CIL for a tenure of 3 years. This will help improve mining safety, environmental compliance, and overall efficiency of the open-cast mines.

Prior to this landmark project, Aereo was also given a result validation contract from Central Mine Planning and Design Institute (CMPDI), a subsidiary of CIL. Aereo validated the accuracy of photogrammetry data across 50 mining sites and computed results. Based on the favorable outcome of these results and other subsequent efforts made by the CMPDI, an amendment has been made to the Yellow Book of Coal India (Notification No: CIL/C-1/Yellow Book/23/42, Dated: 02.02.2023). According to this amendment, drone-based photogrammetry for volumetric assessment is mandatory on a regular basis. The amendment also lists several SOPs that include the use of PPK drones and DGPS base stations.

Under the new Yellow Book amendment and CIL’s latest contract, Aereo will be the first company to regularly render its drone solutions to India’s largest coal mines. Apart from deploying its survey-grade drones and drone pilots, Aereo will also generate orthomosaics, digital elevation models (DEMs), and deep analytics on its web platform. Additionally, it will participate in a knowledge transfer exercise with CIL through training and guiding the existing survey teams of CIL.

This will be the first-ever drone usage of this scale to be undertaken for mining in India. The contract with CIL marks Aereo’s second biggest success after a long-term engagement with Tata Steel to jointly develop and offer sustainable end-to-end drone solutions that will focus on the efficiency, safety, and productivity of open cast mining operations.

On winning the contract, Vipul Singh, Founder, and CEO, Aereo said, “Aereo is proud and delighted to work with CIL and Accenture on India’s largest mine mapping project to date. This contract marks a significant milestone for Aereo and CIL in terms of technological scalability. It will help shape India’s journey to becoming energy self-sufficient. The advanced analytics delivered in this project will enable large-scale digitization of some of the most important mines of this country. That will pave the way for more efficient, safer, and environmentally conscious mining operations. Using our end-to-end drone solutions stack, we have successfully delivered critical business intelligence to over 500 mines in the past. Aereo has always worked towards creating impactful drone-based solutions. This collaboration is a leap toward the rapid adoption of commercial drone technology in India.”

Every month at this time, you add items to your online shopping cart and debate whether to make the purchase now or wait until payday. Yes, you’re correct; it’s the end of the month, and you anxiously await your salary credit. Thanks to social media and its opportunities, there has never been a better time to pursue a side business. With the rise in popularity of platforms like Moj, creating content for short video platforms has become a very lucrative side business. The beauty of this is that it gives you the freedom to produce content whenever it suits you so you can use it as a side business in addition to your 9 to 5 desk job. It’s a very attractive side gig because of the enormous potential for earnings from brand sponsorships and affiliate marketing. You’ll be surprised to learn that creators earn ​​lakhs annually! Here are some of the most well-known Moj creators and their personal stories to motivate you to take on content creation as a side gig.

Janvi[4] Janvi, who comes from a humble background in Madhya Pradesh, realized she wanted to be a performer at a young age. Janvi was introduced to Moj by her mother, and she soon started posting many acting and dancing videos synced to her favorite Bollywood hits. Her mother was the biggest supporter in her content creation journey, assisting her in shooting and editing videos.

Her cutesy demeanor and attire were ideal for Bollywood dance numbers. This young child frequently sings along to Madhuri Dixit songs because she is such a big fan. One of her many popular videos has to be the retro dance she did to Zeenat Aman’s most well-known song, “Satyam Shivam Sundaram.” Janvi and her mother earn extra money thanks to the virtual gifts that have poured in due to the millions of views her videos have garnered. Janvi proves that talent is valued wherever it is displayed.

Rachit Srivastav The pandemic cost Rachit his job, which brought him to Moj. Since then, he has frequently contributed to the platform, creating acting videos. His lip sync and dialogue delivery videos have achieved enormous success. Rachit’s feed is an entertaining rollercoaster, with everything from acting out dialogue from Akshay Kumar’s “Bachan Pandey” to producing amusing and relatable videos. His talent was soon recognized by the platform, and ‘Moj Buddy’ called him.

(talent manager). This gave him a chance to make money by live-streaming. Rachit currently has 1.5 million followers and utilizes this platform to earn a living.

Gourav Sharma[7] The 21-year-old Delhi native Gourav gained fame quickly for his relatable and humorous
content. Currently, he has over 1.6 million fans. Gourav hit the mark for his viewers with his lip sync comedy videos. Viewers adore his content, whether it’s his videos on #singlelife or his live appearances with Jacqueline Fernandez and Neha Kakkar. He has earned the title of “King of Moj Live Streaming.” He recently won the Navratri campaign and makes about ₹1 lakh in monthly income from brand partnerships and Moj virtual gifts.

Tanu Rana is a homemaker with lofty goals who can make people laugh with her humorous content on Moj. Tanu joined Moj because she wanted to try something new. She excels at producing entertaining and enjoyable content. Tanu is the Moj queen of entertainment, whether dancing to Priyanka Chopra’s “Desi Girl” or lip-syncing to Daler Mehndi’s “Tunak Tunak.”After nearly six months of arduous work toward her dream, she was granted early access to Moj LIVE before it was made available to all users. This gave her the opportunity to stream LIVE and interact with her fans, allowing her to monetize her content. Tanu uses Moj frequently and earns lakhs annually.

Bengaluru, 24 March 2023: One of India’s first and largest media and communication festivals, ‘Article-19’ is back this year and will be held at Manipal Institute of Communication on the 24th and 25th of March, 2023. This two-day event has time and again served as a platform for promoting the very principle behind the said article of the Indian Constitution – Freedom of Speech. Inspiring and invoking the spirit of expression while intermingling ideas, interests, and passion, the fest is an embodiment of what media and communication stand for.

The panel includes Mr. Rohit Gandhi, the Editor-in-chief of Democracy News Live, Founder and former Editor-in-Chief of World is One News (WION); Mr. Viswanath Venkatraman, an alumnus of MIC’s first graduating batch in 1997 and the co-creator of some of the most iconic events for leading Indian & International brands and special feature shows in media groups like Network18; Mr. Shiv Aroor, journalist, author, editor, and anchor at India Today and a renowned defense correspondent who has done conflict reporting from defense zones such as Kashmir, Sri Lanka, and Libya.

“We at MIC started Article-19 with a coherent goal, to harness the power of ethical media, the power of students, and the power of freedom of speech and expression. After hosting more than 20 successful festivals, we strive to ensure that the same spark is alive and we hope to make a bigger and better impact with each passing year” says Dr. Padmarani, Director at Manipal Institute of Communication.

Article – 19 is a platform created by the students for the students. This year’s organizing committee is guided by the faculty coordinator, Ms. Shruthi V Shetty. One can witness a melange of creative media-based events, games, and learning experiences spread across fields like journalism, advertising, film making etc. This includes an extremely insightful workshop called, “Pitch Perfect” by Ms. Ann Kurian, Founder & Creative Director of Talking Tree Media, Bengaluru. The chosen theme for this year is, ‘MIC through Metaverse.’ The Metaverse is anticipated to be the next great revolution in the field of media and internet technology. Thus this year’s Article-19 is very intrinsically woven around it.

Students across Manipal will be testing their bounds of creativity and communication through various competitions like student TEDx Talks and Mad Ads. The 2-day conglomerate will be closing with an award ceremony and a fun fair making it a perfect blend of education and entertainment. Manipal Institute of Communication was established in 1997 by MAHE as a benchmark of holistic education in the burgeoning media industry. Since its inception, MIC has conducted Article-19 for over 20 years making it one of India’s first-ever media festivals. It stands for people’s right to Freedom of Speech and Expression and demonstrates it in an innovative and educative manner each passing year.

Mumbai, March 24, 2023: Mother’s Recipe one of India’s leading food brands known for its expansive product portfolio, has launched a new product category Sharbat for this summer season. The tradition of having sharbat in summer always strikes nostalgia. In Indian households, making sharbat is a family affair, with everyone pitching in to help prepare the drink. Grandmothers are often the ones who pass down their traditional recipes and techniques for making sharbat. In the summer season, tea gets replaced with sharbat while welcoming guests. Sharbats are offered as a thirst quencher to beat the scorching summer heat.

Sharbat is a refreshing drink but also a cultural symbol in India. It is often served to guests as a sign of hospitality and warmth and an essential part of Indian tradition that brings families and communities together. Keeping this in mind and in a bid to strengthen its product portfolio Mother’s Recipe one of India’s leading food brands has recently announced the launch of its new product category range called the Summerwala Sharbat with a new tagline ‘Swad Jo Dilaye Bachhpan ki Yaad.

Mother’s Recipe sharbat has launched five new ranges of refreshing flavors Mango Panna, Rose Sharbat, Jeera Masala, Khus Syrup, and Lemon Ginger. Rose sharbat, made with rose syrup and water, is a classic flavor and is often used as a base for other sharbat flavors. Khus sharbat, made with khus extracts syrup, is a fragrant and cooling drink. Lemon sharbat, made with lemon juice and sugar syrup, is a tangy and refreshing drink. Mango sharbat, made with mango pulp and sugar syrup, is a sweet and fruity drink. With the rising temperature, it is very important to keep our bodies cool and hydrated. Khus, Lemon, Rose, and various ingredients in the sharbat are known to offer various health benefits too such as improving digestion & cooling. The sharbat can be served chilled and can be garnished with mint leaves, and lemon slices, or can be turned into a fancy mocktail or a faluda.

Speaking on the new launch announcement Ms. Sanjana Desai, Executive Director, of Mother’s Recipe said “We at Mother’s Recipe always strive to provide consumers with an enriching experience through our product offerings. We believe in pushing boundaries when it comes to introducing consumers to new products, tastes and experiences and with our Summerwala Sharbat we aim to do the same. In India, the beverage category has witnessed a paradigm shift in consumption patterns, from regular soft drinks to better and healthier options. To address the ever-evolving consumer demand we decided to expand our product portfolio with Sharbat. We are confident that the product will soon emerge as the preferred beverage choice across all age groups”.

Mother’s Recipe Sharbat range is available in a 750ml PET bottle priced at Rs. 180. The bottles are great for reusing, unbreakable, and easy to store in the fridge cabinets. The product will be available across all e-commerce platforms like modern and all retail outlets. The launch of the products is a step forward in having a broader portfolio. Currently, the brand is among the leading FMCG companies with a range that includes a variety of products like pickles, cooking paste, chutney, papad, Ready to eat, and Ready to cook.

New Delhi, 24 March 2023: Fire-Boltt, a homegrown smart wearable brand today announced the launch of its new smartwatch- Legacy. The latest addition to the brand’s LUXE collection, Legacy exudes magnificence with its stainless-steel design, finely textured straps, 2 button pushers, and a rotating crown. Featuring a 1.43″ always-on AMOLED Display, the smartwatch is loaded with some industry-first features like wireless charging, a stock market tracker, and much more. An epitome of perfection, this feature-rich smartwatch comes with 2 varieties of straps-Leather and Stainless Steel. While the leather variant comes in black and brown colors, the stainless-steel variant comes in silver and black color options. Additionally, the users will receive a free silicon strap with the purchase of every Legacy smartwatch. This elegant timepiece will be available for purchase from 25th March on Flipkart, Fireboltt.com, and offline stores at INR 3999 onwards.

With its futuristic design and advanced anti-corrosion property, the all-new Legacy smartwatch is packed with some of the most exciting features like Bluetooth calling, Voice Assistance, IP68 certification for water resistance, and 100+ sports modes. The smartwatch supports wireless charging, and with its big 330 mAh battery, it can continuously run for up to 7 days on a single charge. The watch’s AMOLED display, 466*466 pixels resolution, and a brightness of 600 Nits offer an exceptional viewing experience while its 60 Hz refresh rate ensures that there are no lags. The smartwatch also lets users get real-time stock market updates on their wrists. The users have to simply add their favorite stocks to the app post and the watch will automatically start sending them real-time stock updates.

Commenting on the launch, Aayushi Kishore and Arnav Kishore, Co-Founders of Fire-Boltt, said, “Fire-Boltt firmly believes in providing an elevated user experience through products that are built with compassion, innovation, and uniqueness. The legacy smartwatch is a testament to this belief, as we aim to satisfy our existing users and attract potential smartwatch enthusiasts to join our tribe. We are optimistic that this latest smartwatch from our Luxe edition will leave a lasting impression in the market.”

The smartwatch boasts the brand’s signature health suite that allows real-time heart rate monitoring, sleep monitoring, SpO2 monitoring, menstrual cycle tracking, and activity tracking. Moreover, the smartwatch comes with multiple watch faces to go with your every mood and attire. Some other exciting features of the smartwatch include a world clock, stopwatch, alarm, weather updates, remote music control, remote camera control, find my phone, smart notifications, and sedentary reminders, and much more.

Visa applications from New Delhi nearly touched the pre-pandemic levels in 2022 driven by pent-up demand, the opening of international borders and eased COVID-related protocols. According to VFS Global, the visa application volume from New Delhi reached close to 80% of the 2019 pre-pandemic levels in 2022 and registered a 93% growth when compared to 2021.

This trend of rise in visa application volume from New Delhi is in line with the overall growth registered in India, which was also close to 80% of the pre-pandemic levels in 2022.

“We witnessed unprecedented demand from India in 2022 which led to an extended peak outbound travel season with steady volumes witnessed until December. We are confident that the momentum will further grow and hence it is advisable for applicants to apply for their visas in advance to avoid last-minute surprises,” said Prabuddha Sen, Chief Operating Officer – South Asia, VFS Global.

Another defining trend noticed in travellers’ behaviour was the wider adoption of personalised service which began during the pandemic. Premium optional services such as Visa At Your Doorstep (VAYD) which enables travellers to book the entire visa experience at a location of their choice, witnessed around a 90% year-on-year rise in 2022. VFS Global offers VAYD for 16 client governments in India – Austria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Slovenia, Switzerland, UK.

“Health considerations continue to be a key determining factor in the new normal. As a result, we see an increasing number of travellers opt of such services that provide a seamless visa experience and prioritise safe travel,” added Sen.

Peak Season Travel Guide

#ApplyinAdvance

It is recommended to apply for visas as early as booking flights and stay. Most countries accept visa applications up to 90 days (3 months) before your date of travel. According to the revised Schengen Visa Code, effective 09th February 2020, you can apply for a Schengen visa up to 6 months before your date of travel. Particularly this year with higher demand and limited appointment slots available, we urge applicants to apply for their visa as early as possible.

#DoNotFallForFraud

Visa applicants are advised to beware of fraudulent entities who charge fees from customers for scheduling appointments or providing any other services using VFS Global’s name or independently. We do not charge any payment for scheduling appointments. For any assistance, feel free to reach out to one of our staff or send an email to communications@vfsglobal.com

Enjoy our optional value-added services for a seamless visa experience such as:

Premium Lounges: Quick, safe, comfortable – get a personalised visa submission experience.
Form-filling assistance: Allow our expert staff to assist you in completing your visa application on phone or at a visa application centre
Courier Service: We deliver your passport and documents. It’s quick, safe, and convenient.
Travel Medical Insurance: Get your mandatory Travel Medical Insurance including Covid-19 coverage from global insurers.

Mumbai, 24 March 2023: Galaxy Surfactants, the leading manufacturer of performance surfactants and specialty care ingredients used in the Home and Personal Care industry, is participating in In-cosmetics Global, between March 28th to 30th in Barcelona, Spain. Galaxy Surfactants will be displaying their latest solid format product offerings and providing valuable insights into the properties and applications of these products at the exhibition. The event will facilitate a dialogue between leaders in personal care and home care industries to enable business and spur future innovation.

The company will be present at the sustainability corner, innovation zone, and sensory bar at the event, showcasing its innovative solutions. The Sustainability Corner will feature the company’s waterless sustainable solid format, Galseer® Tresscon, which is a shampoo bar base that helps reduce water consumption. At the Innovation Zone, visitors can learn about GalguardTM LipoG, a high-quality hair care active that provides excellent protection from dandruff. The Sensory Bar will showcase a unique format based on Galsoft TiLS (G) which is a green, oil-soluble surfactant system.

Commenting on the participation in the event, Mr. K Natarajan, the Executive Director & Chief Operating Officer at Galaxy Surfactants said, “We are looking forward to participating in the In-cosmetics Global event that provides us with the opportunity to meet our existing customers and tap into a new customer base who come here from across the world. Galaxy Surfactants will not only showcase their innovative products at the exhibition but also highlight our commitment to providing high-quality and sustainable ingredients that meet the evolving needs of our customers and the market. We look forward to engaging with the international personal care community, sharing our expertise, and learning about the latest science and trends in ingredient innovation.”

The In-cosmetic Global event will offer crucial insights into scientific advances, emerging trends, and regulations through their unrivaled educational programs. The In-cosmetic Group connects 1,800+ suppliers of ingredients, fragrances, lab equipment, testing, and regulatory solutions with 40,000+ cosmetic industry professionals.

Dr. V Keshavan  Senior Consultant Pulmonologist,  Apollo Hospitals, Hyderabad.

World TB Day, falling on March 24th each year is organized to increase awareness among the general public that Tuberculosis continues to be a significant public health problem in much of the world today.

It commemorates the day in 1882 when Dr. Robert Koch announced in Berlin that he had discovered the cause of tuberculosis, the TB bacillus. At that time, TB was rampant in Europe and the Americas, causing the death of one in every seven individuals.

The Stop TB Partnership, an entity of the United Nations and The World Health Organization (WHO) has announced the theme for this year’s World TB Day: “Yes! We Can End TB”.

Even in recent times, TB continues to be a public health scourge globally. In 2021, an estimated 10.6 million people fell ill with TB around the world. This was an increase of 4.5% as compared to 2020. Eight countries accounted for two-thirds of the total global burden of the disease, with India accounting for more than a quarter of the global burden. The other seven countries (in decreasing order of prevalence) are China, Indonesia, Philippines, Pakistan, Nigeria, Bangladesh and South Africa. To put things in perspective: India has less than 20 percent of the world’s population but has more than 25 percent of the total TB patients in the world. Worldwide, India has the highest burden of Drug Resistant TB also.

The ‘National TB Prevalence’ survey (2019- 2021) in India, conducted by the Union government is a three-year survey that was the first of its kind nationwide in the last 55 years and is only the second national survey aimed at determining the actual disease burden of tuberculosis in the country.

The survey revealed that the prevalence of tuberculosis among Indians aged above 15 years is 312 cases per 1 lakh population, as compared to the global average of 134 cases per 1 lakh population. Delhi, with 747 cases per 1 lakh population, has the highest prevalence of TB. Gujarat has the lowest prevalence with 137 cases per 1 lakh population. The survey has estimated the National Prevalence to Notification Ratio as 2.84. (this means that for every case that is notified, the actual prevalence of cases in the community is 2.84). The study has also estimated that in over 60% of cases, the patients did not seek medical care for their symptoms, the most common reasons for this being that either the symptoms were ignored by the patients, the symptoms were not recognized by the patients as being indicative of an underlying disease or due to financial constraints in seeking medical care.

John Bunyan once referred to “Consumption” as the “Captain of the Men of Death” and indeed, for many years, and in many parts of the world, TB was the leading infectious cause of death. In 2021, there were an estimated 1.3 million deaths due to TB globally, with over 400,000 deaths occurring in India.

India has had a National TB Program (NTP) since 1962. Since then, it has been reorganized twice: first into the Revised National Tuberculosis Control Program (RNTCP) in 1997 and then into the National Tuberculosis Elimination Program (NTEP) in 2020.

TB control efforts initially got organized with the National TB program (NTP) primarily focusing on BCG vaccinations as a preventive measure.

In order to strengthen the NTP, the Government decided to give a new thrust to TB control activities, with assistance from international agencies, and the emphasis was shifted to a treatment-based strategy. The Revised National TB Control Programme (RNTCP), adopted the internationally recommended Directly Observed Treatment Short course (DOTS) strategy, as the most systematic and cost-effective approach for the Indian scenario.

Under DOTS, political and administrative commitment were some of its core strategies, to ensure the provision of organized and comprehensive TB control services. The adoption of smear microscopy for reliable and early diagnosis was introduced in general health services. The supply chain of drugs was also strengthened to provide an assured supply of drugs to meet the requirements.

Large-scale implementation of the RNTCP began in late 1998 and subsequently, India achieved country-wide coverage under RNTCP in 2006.

This was followed up with RNTCP Phase II, from 2006 onwards. The second phase aimed at at least 70% case detection rate of new smear-positive cases as well as a cure rate of at least 85%, in order to achieve the TB- related targets set by the United Nations among the “Millenium Development Goals”. In terms of the treatment of patients, RNTCP was recognized as the largest and fastest-expanding TB control program in the world.

Consolidating the advancements in RNTCP, it was renamed as the NTEP and this change came into effect from 1 January 2020.

“Ni-Kshay” (Ni- End, Kshay- TB), a web-based patient management system for TB control has been another notable achievement and has enabled the capture and transfer of individual patient data from the remotest health institutions of the country.

The President of India, Smt. Droupadi Murmu launched the “Pradhan Mantri TB Mukt Bharat Abhiyaan” on September 9, 2022. According to the United Nations “Sustainable Development Goals”, all nations have set the goal of eradicating TB by the year 2030. But the Government of India has set the target of eradicating TB by the year 2025 and efforts are being made at every level to fulfill this resolution. The “Pradhan Mantri TB Mukt Bharat Abhiyaan” has been envisioned to bring together all stakeholders to support those on TB treatment and accelerate the country’s progress towards TB elimination. Under this program, any individual, NGO, cooperative society or corporate organization can take the pledge to help persons with TB and can join as “Ni-Kshay Mitra”. “Ni-Akshay 2.0” is a digital platform for community support of patients with TB. There is also a dedicated “Ni-Kshay” helpline for this purpose: 1800-11-6666.

Krones today published its 2022 Annual Report. Its title is “Solutions beyond tomorrow”, the company’s new target picture. For the first time, the company has integrated its non-financial statement into the Annual Report as part of the group management report. The non-financial statement contains all important qualitative and quantitative non-financial information on material sustainability topics. By combining its financial and non-financial reporting, Krones underscores the importance it attaches to sustainability in all business decisions. This is also reflected in the company’s “Solutions beyond tomorrow” target picture. With a strategic focus on sustainability, digitalization and service quality, Krones intends to continue its profitable growth in the future. The company presented new record figures for 2022.

Revenue topped the €4 billion mark for the first time, rising from €3,634.5 million to €4,209.3 million, an increase of 15.8% on the previous year. Krones thus exceeded the upgraded growth target of 10% to 12% published in October 2022 (original target 5% to 8%).

Customer demand for Krones’ products and services was very strong in 2022. Order intake rose by 34.0% year on year, from €4,316.2 million to €5,782.8 million. The order backlog also grew strongly. At the end of 2022, Krones’ order backlog totaled €3,466.4 million. The order backlog was thus 83.1% up on the previous year (€1,893.0 million).

Profitability improved under difficult conditions

Thanks to the company’s great flexibility and wide-ranging measures to increase efficiency, Krones was able to improve profitability in 2022 despite rising material and freight costs and resource shortages. This was also partly due to Krones’ price increases, which enabled the company to largely offset the higher costs. Earnings before interest, taxes, depreciation and amortization (EBITDA) went up 19.4% year on year, from €312.6 million to €373.3 million. It should be noted that EBITDA in the previous year was positively impacted by one-off effects totaling €17 million. The EBITDA margin improved to 8.9% (previous year: 8.1% excluding one-off effects). As forecast, Krones reached the upper end of the EBITDA margin target of 8% to 9% for 2022.

Earnings before taxes (EBT) rose by 36.5%, from €177.3 million in the previous year to €242.1 million. The EBT margin consequently improved to 5.8% (the previous year: 4.4% excluding one-off effects). On the bottom line, Krones generated a consolidated net income of €187.1 million in 2022, an increase of 32.3% (previous year: €141.4 million). This corresponds to earnings per share of €5.92 (previous year: €4.47).

All three segments contributed to the improvement in earnings

In the Filling and Packaging Technology segment – the largest segment by far – revenue climbed in 2022 by 14.8% year on year to €3,497.3 million. Despite rising material prices and resource shortages, EBITDA increased by 17.5% to €332.7 million. The EBITDA margin rose to 9.5% (previous year: 8.7% excluding one-off effects).

Revenue in the Process Technology segment increased by 23.9% to €367.5 million in 2022. EBITDA went up from €18.6 million in the previous year to €20.4 million. The improved segment earnings reflect the strategic measures implemented by Krones. In 2021, the brewery business was spun off into a separate company and processes were streamlined for project-based business. The EBITDA margin remained almost stable at 5.5% in 2022 (previous year: 6.3%).

Intralogistics has been Krones’ third segment since the beginning of 2022. Its activities were previously part of Process Technology. The new segment’s revenue developed well in 2022, growing by 17.9% to €344.5 million. EBITDA increased by 87% to €20.2 million. The EBITDA margin thus improved to 5.9% (previous year: 3.7%).

Exceptionally high free cash flow leads to a significant increase in net cash

The high order intake and the resulting advance payments from customers had a significant influence on the company’s free cash flow in 2022. The free cash flow reached the exceptionally high level of €371.0 million (previous year: €203.3 million). Krones significantly improved the working capital to revenue ratio to 19.0% (previous year: 24.8%). The decrease in average working capital and the higher earnings before interest and taxes had a positive impact on return on capital employed (ROCE). Krones significantly increased ROCE in 2022 to 14.1% (previous year: 10.0%), thus exceeding the target of 10% to 12%.

Krones continues to have a very robust financial and capital structure. The company’s net cash (cash and cash equivalents less bank debt) amounted to €669.5 million at the end of 2022, €291.2 million more than in the previous year. The equity ratio was 38.3% (previous year: 39.8%).

With the above figures, Krones has confirmed the preliminary figures published on 23 February 2023.

Krones to increase the dividend for 2022 by 25% to €1.75 per share

Krones’ long-term dividend policy is to distribute 25% to 30% of consolidated net income to shareholders. At the Annual General Meeting on 23 May 2023, the Executive Board and Supervisory Board will propose a dividend of €1.75 per share for the successful 2022 financial year. This represents a 25% increase in the dividend compared to the previous year (€1.40 per share) and is equivalent to 29.6% of consolidated net income.

Krones forecasts further revenue and earnings growth for 2023

Krones started the 2023 financial year with an extremely large order backlog. At the same time, various uncertainties mean that the business environment remains challenging for Krones. These include geopolitical risks in Europe and other parts of the world, and also high inflation and interest rates in many countries. Material shortages and problems in global supply chains remain a source of uncertainty. However, Krones expects that the situation on the procurement markets relevant to the company may ease slightly in the second half of 2023. Based on the prevailing macroeconomic outlook and the current expected development of the markets relevant to Krones, the company expects consolidated revenue growth of 8% to 11% in 2023.

With increasing revenue and continued implementation of the cost optimization measures, Krones aims to improve profitability again this year compared to 2022. Thanks to the company’s innovative solutions and good project work with customers, Krones succeeded in implementing price increases in 2022. The higher prices will enable the company to offset future cost increases. At the group level, Krones is forecasting an EBITDA margin of 9% to 10% for 2023.

For the third performance target, ROCE, the company expects an increase this year to between 15% and 17%.