RCS - KSB SE & Co. KGaA - Annual General Meeting of KSB SE & Co. KGaA

KSB SE & Co KgaAAnnouncement

04/05/2023 17:00

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RNS Number : 4779Y  KSB SE & Co. KGaA  04 May 2023

 KSB SE & Co. KGaA / Key word(s): AGM/EGM

Annual General Meeting of KSB SE & Co. KGaA

04.05.2023 / 15:41 CET/CEST

The issuer is solely responsible for the content of this announcement.

Annual General Meeting of KSB SE & Co. KGaA

 KSB very satisfied with 2022 financial year / Strong start to 2023 financial
 year

 ·      Significant increase in order intake, sales revenue and earnings
 in 2022

 ·      € 19.50 dividend per ordinary share

 ·      Positive outlook overall

 Frankenthal, 4 May 2023: The Frankenthal-based pump and valve manufacturer KSB
 achieved its highest ever order intake and sales revenue in 2022. EBIT was
 also up, beating out the past ten years. At the Group's Annual General Meeting
 at the Frankenthal CongressForum, Dr Bernd Flohr, Chairman of the Supervisory
 Board, honoured this per-formance in front of around 150 shareholders,
 thanking the Management and employees for achieving this excellent result in
 spite of the various challenges.

 2022 financial year

 KSB increased its order intake by 18.7 % to € 2,862 million and its sales
 revenue by 9.8 % to € 2,573 million in 2022, while EBIT came in at 6.6 %
 (€ 169 million). The company invested € 122 million in sustainability,
 capacity expansion, digitalisation and production improvements. The war in
 Ukraine, the COVID-19 pandemic, a cyber attack and hail damage in France all
 presented the company with major challenges.

 € 19.50 dividend per ordinary share

 The positive performance with a net profit for the year of € 127 million is
 especially to the benefit of KSB shareholders. They approved a dividend
 increase to € 19.50 per ordinary share (previous year: € 12) and
 € 19.76 per preference share (previous year: € 12.26). "I am delighted
 that we were able to overcome the many challenges facing us in 2022 and
 generate significant added value also for our shareholders," said
 Dr Timmermann, CEO. "Customer focus, an optimistic mindset and team spirit
 were crucial in paving our path to success - and will ensure we remain on
 track in the 2023 financial year."

 Changes to the Supervisory Board

 The shareholders present re-elected Klaus Kühborth, Managing Director of
 Johannes und Jacob Klein GmbH in Frankenthal, as member of the Supervisory
 Board. Johannes und Jacob Klein GmbH holds approximately 84 % of the voting
 shares in KSB SE & Co. KGaA. The regular election of the employee
 representatives on the Supervisory Board was held in April. Jürgen Walther
 will replace René Klotz on the Supervisory Board; all other members were
 re-elected for a further term of office.

 Corporate strategy

 KSB's corporate strategy remains geared to growth and sustainability. Its
 cornerstones include digitalisation, the expansion of the service and spare
 parts business, and the consistent pursuit of its sustainability goals. The
 Climb 21 strategy project, which laid the groundwork for the company's
 realigned organisational structure based on six high-growth Market Areas, the
 Valves business and the new KSB SupremeServ service brand, has been brought to
 a successful conclusion.

 Positive outlook overall

 In the first quarter of 2023, KSB increased its order intake by 12.6 % and
 its sales revenue by 19.7 % compared with the previous year. EBIT like-wise
 outperformed the prior-year period. The investment volume is slated to be
 increased further in the current financial year. Despite the very
 heter-ogeneous nature of economic development worldwide, the Management
 remains fundamentally optimistic with regard to the further course of the 2023
 financial year. Supervisory Board Chairman Dr Flohr underlined the "company's
 resilience to withstand future crises and expand its earnings capacity",
 saying that the global alignment of its Market Areas and Segments offer good
 prospects overall.

 KSB is a leading international manufacturer of pumps and valves. The
 Frankenthal-based Group has a presence on five continents with its own sales
 and marketing organisations, manufacturing facilities and service operations.
 With a workforce of around 15,700, the KSB Group generated sales revenue of
 € 2.6 billion in 2022.

04.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
 - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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 Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

 Language:     English
 Company:      KSB SE & Co. KGaA
               Johann-Klein-Strasse 9
               67227 Frankenthal
               Germany
 Phone:        +49 6233 86-2020
 Fax:          +49 6233 86-3435
 Internet:     www.ksb.com
 ISIN:         DE0006292030
 WKN:          629203
 Listed:       Regulated Market in Dusseldorf, Frankfurt (General Standard); Regulated
               Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange
 EQS News ID:  1624987

 

 End of News  EQS News Service

1624987  04.05.2023 CET/CEST

 

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