RCS - KSB SE & Co. KGaA - KSB very satisfied with performance in Q3

KSB SE & Co KgaAAnnouncement

09/11/2023 10:15

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RNS Number : 9392S  KSB SE & Co. KGaA  09 November 2023

 KSB SE & Co. KGaA / Key word(s): Quarterly / Interim Statement

KSB SE & Co. KGaA: KSB very satisfied with performance in the first three
 quarters

09.11.2023

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

Third quarter of 2023

 KSB very satisfied with performance in the first three quarters

 ·      Order intake up 3.6 % on the previous year

 ·      Sales revenue up 15.9 % on the previous year

 ·      Positive outlook

 FRANKENTHAL: Frankenthal-based pump and valve manufacturer KSB posted order
 intake, sales revenue and earnings (EBIT) above the previous year's level once
 again following the close of the third quarter. Key drivers behind this growth
 were the spare parts business and project business.

 In the current financial year 2023, despite the downturn in some markets,
 especially in Europe, KSB recorded an order intake of € 2,329.0 million.
 This equates to year-on-year growth of 3.6 % (+ € 79.9 million). The
 Segments KSB SupremeServ at 8.8 % (+ € 61.6 million) and Valves at
 10.9 % (+ € 30.9 million) made a significant contribution to the
 increase in order intake. The Pumps Segment at - 1.0 % was down marginally
 (- € 12.6 million) compared with the prior-year period, which had been
 impacted positively by several major orders. While the project business was
 strong, there was a noticeable economic slowdown in the standard business,
 especially in Europe. Order intake in the third quarter stood at
 € 720.3 million, - 5.5 % (- € 41.5 million) below the same quarter
 of the previous year with its strong order book.

 Sales revenue remained high in the current financial year, up markedly year on
 year by 15.9 % (+ € 289.2 million) to € 2,113.8 million. All
 Segments - Pumps (+ 15.9 %), Valves (+ 13.2 %) and KSB SupremeServ
 (+ 16.8 %) - achieved growth in the double-digit percentage range in the
 current financial year, with all Regions also contributing positively to
 growth. At € 727.2 million, the third quarter generated the highest sales
 revenue in 2023 and was 7.1 % (+ € 48.3 million) above the prior-year
 period.

 KSB increased its earnings before finance income / expense and income tax
 (EBIT) substantially year on year. Dr Stephan Timmermann, CEO, confirms the
 following in respect of the 2023 financial year: "We are confident that we
 will achieve profitability at the upper end of our set target range. In our
 estimate, order intake and sales revenue will range within the forecast that
 was revised upwards in July - despite increasing economic uncertainties and a
 significant slowdown in the standard business. Our focus right now is on
 preparing our company for a challenging year 2024."

 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.

09.11.2023 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.

The EQS Distribution Services include Regulatory Announcements,
 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:  1769013

 

 End of News  EQS News Service

 

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