RCS - KSB SE & Co. KGaA - KSB continues the positive trend

KSB SE & Co KgaAAnnouncement

25/04/2024 11:30

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RNS Number : 0345M  KSB SE & Co. KGaA  25 April 2024

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

KSB continues the positive trend of the previous year in the first quarter of
 2024

25.04.2024

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

KSB continues the positive trend of the previous year in the first quarter of
 2024

 ·      Strong order intake in the first quarter

 ·      Increase in sales revenue and earnings (EBIT)

 ·      KSB SupremeServ continues to drive this development

 FRANKENTHAL: The Frankenthal-based pump and valve manufacturer KSB is
 continuing the positive development of the 2023 financial year in the first
 quarter of 2024. The key performance indicators order intake, sales revenue,
 earnings before finance income / expense and income tax (EBIT) and EBIT
 margin are all up on the comparative prior-year quarter.

 In the first quarter of the 2024 financial year, KSB increased its order
 intake by 0.4 % to € 863 million. The strongest increase of 8.0 % to
 € 283 million was achieved by the KSB SupremeServ Segment. The Valves
 Segment improved its order intake by 6.0 % to € 127 million. This growth
 contrasted with a drop in orders in the Pumps Segment of - 5.1 % to € 453
 million. Owing to some larger individual orders in the first three months of
 2024, the Energy Market Area recorded an increase in orders of 59.4 %
 (+ € 32 million). The Mining Market Area continued its strong performance,
 despite a lower order intake (- 56.2 % / - € 27 million) in the current
 quarter, which compares with major orders booked in the same prior-year
 period. In the Standard Markets, KSB is expecting a positive trend for this
 financial year - even though the order intake is lower at € 346 million
 (previous year: € 376 million), which is attributable to having received
 more major orders in the Water Market Area in the comparative prior-year
 period.

 KSB increased its sales revenue by 3.8 % to € 693 million in the first
 three months. With growth of 8.5 % to € 94 million, the Valves Segment
 achieved the strongest increase. In the KSB SupremeServ Segment, the company
 grew its sales revenue to € 232 million (+ 5.4 %), while the Pumps
 Segment recorded a sales increase of 1.6 % to € 367 million.

 KSB increased its EBIT in the first quarter by 7.1 % to € 48.4 million
 (previous year: € 45.2 million). This corresponds to an EBIT margin of
 7.0 % compared with 6.8 % in the same prior-year period. While KSB
 SupremeServ increased its EBIT by 7.7 % (€ 43.1 million), the Valves
 Segment improved its EBIT to an almost break-even level (€ - 0.1 million)
 compared with the previous year. With an EBIT of € 5.4 million, the Pumps
 Segment was not quite able to match its previous year's figure of € 8.3
 million.

 Dr Stephan Timmermann, Chairman of the Board, explained: "As regards the
 economic situation, the overall picture is characterised by global political
 unrest, continued weak demand in Europe and the slowing economy in China. As a
 result, the tailwind that we were hoping for from an economic recovery failed
 to materialise in the first quarter of 2024. We are therefore even more
 pleased that we succeeded in further improving the Group's performance thanks
 to our broad product range and our global positioning."

 KSB has confirmed the forecast published at the beginning of the year for the
 2024 financial 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.

25.04.2024 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.

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
 Indices:      SDAX
 Listed:       Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated
               Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange
 EQS News ID:  1888971

 

 End of News  EQS News Service

 

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