RCS - KSB SE & Co. KGaA - KSB continues its positive development

KSB SE & Co KgaAAnnouncement

03/08/2023 10:15

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RNS Number : 2094I  KSB SE & Co. KGaA  03 August 2023

 KSB SE & Co. KGaA / Key word(s): Half Year Report

KSB continues its positive development in the first half of the year

03.08.2023 /

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

2023 Half-year Financial Report

 KSB continues its positive development in the

first half of the year

 ·      Order intake up 8.2 % on the previous year

 ·      Sales revenue up 21.0 % on the previous year

 ·      Return on sales before one-time special factors increased to
 7.3 %

 FRANKENTHAL: The Frankenthal-based pump and valve manufacturer KSB continued
 to expand its order intake, sales revenue and earnings (EBIT) in the first
 half of 2023. In July, the company revised upwards its expectations for the
 financial year.

 "Despite the global economic uncertainties, we have concluded a very positive
 first half of the year and exceeded expectations for all relevant key
 performance indicators. This is an undeniable success for KSB's
 market-oriented organisation", says CEO Dr Stephan Timmermann.

 KSB recorded order intake of € 1,608.7 million in the first half of the
 year. This equates to growth of 8.2 % (+ € 121.4 million) compared with
 the prior-year period. The Pumps Segment recorded an increase of 3.8 %
 (+ € 32.2 million). The Valves and KSB SupremeServ Segments boosted
 growth significantly, with 12.7 % (+ € 24.8 million) and 14.4 %
 (+ € 64.4 million). The Mining and Energy Market Areas, which have a
 major focus on the project business, were particularly strong in terms of
 incoming orders. Order intake in the Standard Markets, especially in Building
 Services, slowed down in the second quarter, reflecting the economic downturn
 in Europe in particular. The largest percentage growth came from the Region
 Asia, followed by the Region Americas. Growth in Europe was more moderate and
 order intake in the Region Middle East / Africa / Russia was slightly lower
 than in the strong prior-year period.

 Sales revenue increased considerably by 21.0 % (+ € 240.9 million) in the
 first six months to € 1,386.6 million. The Pumps Segment recorded the
 strongest performance with 22.6 % growth (+ € 137.6 million). The Valves
 Segment contributed 14.9 % (+ € 23.8 million) to sales revenue for the
 first half of the year. Service and spare parts benefited from the close
 after-sales customer service and achieved growth of 21.1 % (+ € 79.5
 million). Almost all Regions posted double-digit percentage growth rates.

 KSB further increased its profitability year on year. With earnings before
 finance income / expense and income tax (EBIT) of € 112.1 million, the
 company generated a return on sales of 8.1 %. EBIT was positively influenced
 by insurance compensation of € 10.2 million for the hail damage incurred at
 a French plant in 2022. Excluding this extraordinary income, the operating
 return on sales in the first half of 2023 was 7.3 %.

 "Although we notice a certain slowdown in the standard business, we know that
 KSB is optimally positioned and offsets fluctuations across many Market Areas
 and Regions. We are very confident about the second half of the year", Stephan
 Timmermann explained.

 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.

03.08.2023 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

 

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