interim report for the period ended 31 March 2019
KSB posts record high order intake and orders on hand
Significant increase in sales revenue and EBIT?
- Group confirms forecast for 2019 financial year
- All Group performance indicators within target corridor
- Order intake and orders on hand at record highs
- Almost all markets and regions contribute to growth
The Frankenthal-based pump and valve manufacturer KSB can look back on a successful first half of 2019. Both order intake and orders on hand reached the highest levels the company has seen in its almost 150-year history, with order intake up to €?1,306.5 million (+?9.4?%) and orders on hand up to €?1,535.8 million (+?8.7?%) in the first six months of the year. Sales revenue also rose during the same period, by 8.3?% to €?1,141.9 million, while earnings before finance income / expense and income taxes (EBIT) increased from €?21.4 million to €?45.2 million. This means that all of the Group’s performance indicators are within the forecast target corridor. Nonetheless measures aimed at improving earnings and return on sales continue to be initiated. Unlike in the previous year, currency translation effects played only a minor role. Almost all markets and regions contributed to growth.
“The measures we initiated last year are starting to bear fruit,” says CEO Dr Stephan J?rg Timmermann. “Given the good results achieved in the first half of the year and despite the emerging economic slowdown sparked by growing trade disputes, we are confident that we will meet the order intake, sales revenue and earnings targets set for the 2019 financial year.”
In the Pumps segment, order intake was € 867.1 million, up by €?74.0 million (+?9.4?%), boosted by the improved project business in particular in the industry, water / waste water and energy markets.
The Valves segment recorded the largest increase in percentage terms with an order intake of €?203.9 million (+?€?24,7 million / +?13.8?%). The main drivers were cryogenic butterfly valves for LNG tankers and valves for flue gas cleaning systems for ships.
The Service segment saw an upturn in order intake of €?12.2 million (+?5.4?%) to €?235.5 million. Services in the general industry and chemicals / petro-chemicals markets were in particularly high demand.