RCS - KSB SE & Co. KGaA - Record Figures at KSB's Annual General Meeting

KSB SE & Co KgaAAnnouncement

08/05/2024 17:45

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RNS Number : 6749N  KSB SE & Co. KGaA  08 May 2024

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

Record Figures at KSB's Annual General Meeting

08.05.2024 / 16:54 CET/CEST

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

Annual General Meeting of KSB SE & Co. KGaA

 Record Figures at KSB's Annual General Meeting

 ·      Significant increase in order intake, sales revenue and earnings

 ·      € 26.00 dividend per ordinary share

 ·      Positive start to the 2024 financial year

 FRANKENTHAL: In 2023, the Frankenthal-based pump and valve manufacturer KSB
 achieved its highest ever order intake and sales revenue. At 7.9 %, the EBIT
 margin exceeded its expectations for the financial year. At the Annual General
 Meeting on 8 May, Dr Bernd Flohr, Chairman of the Supervisory Board,
 expressed his satisfaction in view of the persistently difficult economic
 conditions.

 2023 financial year

 KSB considerably increased both its order intake (by 3.4 % to € 2,960
 million) and its sales revenue (by 9.5 % to € 2,819 million) in the past
 financial year. The company significantly improved its earnings before finance
 income / expense and income tax to € 223.9 million. The main drivers for
 the increase in the EBIT margin (7.9 %) were the growth in sales revenue and
 the high-margin KSB SupremeServ Segment. However, the tailwind that KSB had
 hoped for from a possible easing of global political tensions and
 inflation-related uncertainties did not materialise.

 Investments

 KSB invested around € 136 million in productivity improvements, capacity
 expansion, digitalisation and sustainability during the 2023 financial year.
 Europe accounted for most of this, followed by Asia and America. In April
 2024, KSB announced one of the largest individual investments in its history:
 Around € 60 million are earmarked for fundamentally modernising and
 expanding the Frankenthal production plant for standardised Eta pumps by 2029.

 KSB shares

 KSB's shareholders are benefiting in particular from the successful financial
 year and the € 177 million net profit for the year. They approved a
 dividend increase to € 26.00 per ordinary share (previous year: € 19.50)
 and € 26.26 per preference share (previous year: € 19.76). KSB's shares
 have been traded on the SDAX since December 2023 and have been listed in the
 Prime Standard since February 2024, drawing more attention to them from
 international investors. "KSB's share price has tripled in the last three
 years," said CEO Dr Stephan Timmermann. "We have not only gained in importance
 on the financial markets but have also created substantial added value for our
 shareholders."

 Changes to the Supervisory Board

 The employee representatives on the Supervisory Board were newly elected in
 April 2024 following a legal challenge by employees to the previous year's
 elections. René Klotz will take Jürgen Walther's place. All other members
 were re-elected for a further term of office.

 Corporate strategy and brand

 KSB adopted its Mission TEN30 corporate strategy in the 2023 financial year.
 The company aims to generate a double-digit return on sales by 2030 by
 continuing to expand KSB SupremeServ, focusing on its standard business and
 achieving clear cost awareness.

 At the beginning of 2024, KSB repositioned its brand in view of its sustained
 and positive corporate development. A new company logo and the 'Solutions. For
 Life.' brand claim are intended to convey the premium brand's mission of
 offering holistic, customer-centric solutions catering to people's needs.

 The current financial year

 In the first quarter of 2024, KSB continued its positive development and
 increased its order intake, sales revenue and earnings compared with the same
 prior-year quarter. The company expects the geopolitical tensions to persist
 and investment and consumer behaviour to remain subdued during the 2024
 financial year. Stephan Timmermann added, with a view to the global situation:
 "2024 will be marked by important elections in our key markets. In Europe, we
 are seeing the first signs of a possible upturn. The USA is currently
 performing well, thanks to the Inflation Reduction Act, while in China, the
 downturn is becoming more obvious. The inflation trend and its effect on
 interest rates are causing uncertainty and a reluctance to invest. The
 associated general economic conditions will affect our business, but our solid
 market positioning and our global presence will enable us to meet the
 challenges. We are confident that we will continue to develop the company
 successfully, and to achieve our goals, in the 2024 financial year - just as
 we have in the past."

 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.

08.05.2024 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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 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:  1899095

 

 End of News  EQS News Service

1899095  08.05.2024 CET/CEST

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