RCS - KSB SE & Co. KGaA - KSB continues on its growth path

KSB SE & Co KgaAAnnouncement

12/11/2024 11:00

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RNS Number : 9066L  KSB SE & Co. KGaA  12 November 2024

 KSB SE & Co. KGaA / Key word(s): 9 Month figures

KSB continues on its growth path

12.11.2024

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

 KSB continues on its growth path

 ·      Order intake, sales revenue and EBIT up on the previous year

 ·      KSB SupremeServ Segment continues to drive this development

 ·      Annual forecast confirmed

 FRANKENTHAL: The pump and valve manufacturer KSB is continuing its positive
 business development in the first nine months of 2024. The company increased
 the key performance indicators of order intake, sales revenue and earnings
 before finance income / expense and income tax (EBIT) compared with the
 prior-year period.

 In the period from January to September 2024, KSB increased its order
 intake by 2.4 % to € 2,384 million (previous year: € 2,329 million).
 With strong spare parts sales particularly in the Energy and Mining Market
 Areas, the KSB SupremeServ Segment achieved the largest increase, growing by
 5.8 % to € 805 million (previous year: € 761 million). The Valves
 Segment's order intake rose by 1.8 % to € 320 million (previous year:
 € 314 million). This was driven mainly by orders in the
 petrochemical / chemical business. The Pumps Segment reported an increase of
 0.4 % to € 1,259 million (previous year: € 1,254 million), with
 disparate developments: While the Energy Market Area was up year on year by
 around € 24 million mainly due to major orders, order intake in the Mining
 Market Area fell by around € 21 million as compared with the previous year
 that was characterised by major orders. With order intake of around
 € 1,005 million, the Standard Markets were slightly above the previous
 year's level of € 1,003 million.

 In the first nine months, KSB increased its sales revenue by 2.7 % to
 € 2,171 million (previous year: € 2,114 million). The Valves Segment
 achieved the strongest growth with an increase of 8.2 % to € 296 million
 (previous year: € 273 million). KSB's SupremeServ Segment primarily
 expanded its spare parts business in the Energy and Mining Market Areas,
 reporting growth of + 5.5 % to € 742 million (previous year:
 € 703 million). Sales revenue in the Pumps Segment remained stable at
 € 1,134 million (previous year: € 1,138 million) year on year. While
 the Energy Market Area achieved growth of 9.1 %, the Mining Market Area and
 Standard Markets were down slightly from the previous year.

 In the first nine months, KSB's EBIT increased by 4.4 % to
 € 188.8 million (previous year: € 180.9 million) despite costs in the
 amount of € 7.5 million for the introduction of the SAP S/4HANA company
 software. This corresponds to an EBIT margin of 8.7 %. This is particularly
 due to the KSB SupremeServ Segment increasing EBIT by 4.6 % to
 € 150.4 million (previous year: € 143.8 million). The Valves Segment
 achieved EBIT of € 1.9 million in the first nine months. At an operating
 level, this represents an improvement of € 11.0 million as the prior-year
 EBIT of € 0.1 million had been impacted by a one-off insurance
 compensation of € 9.2 million. The Pumps Segment achieved EBIT of
 € 36.5 million and thus remained on the previous year's level.

 "Against the backdrop of the challenges in global economy, we are pleased that
 we are keeping the company on its promised growth path and consistently
 pursuing its strategic development," said CEO Dr. Stephan Timmermann. "The
 restraint with regard to major investments and construction projects is
 impacting our standard business, but we have compensated for this well with
 KSB SupremeServ. In order to counteract the weak economic situation in Europe
 and the slowdown in the Chinese market, we are continuing to expand our
 international presence. This includes, in particular, our growth strategy in
 the USA, which we are implementing in a targeted manner."

 KSB expects order intake, sales revenue and EBIT to be in the upper half of
 the forecast for the 2024 financial year published at the beginning of the
 year.

 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 16,000, the KSB Group generated sales revenue of
 approximately € 2.8 billion in 2023.

12.11.2024 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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 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
 Indices:   SDAX
 Listed:    Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated
            Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange

 

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