EQS-News

Record Figures at KSB’s Annual General Meeting

EQS-News: KSB SE & Co. KGaA / Key word(s): AGM/EGM Record Figures at KSB’s Annual General Meeting 08.05.2024 / 16:55 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.