KSB Group Remains on Growth Path
Pumps and valves manufacturer KSB is set to achieve record sales revenue in the current year after generating growth of 10.1 percent in the first six months to € 933.4 million (previous year: € 847.5 million).
In addition to the invoicing of several major orders in the Energy sector, this increase is due mainly to higher sales revenue from the Industry and Water segments. Business from slurry pumps was also encouraging. KSB’s European companies accounted for more than half of the Group’s sales revenue growth, with KSB AG in Germany recording a slightly above-average improvement of 11.6 percent.
On the basis of this increase in sales revenue, consolidated earnings before income taxes amounted to € 85.3 million for the first six months (previous year: € 61.9 million). This represents growth of 37.9 percent.
The KSB Group’s order intake also rose by 9.7 percent to € 1,161 million in the first half of the year (previous year: € 1,058 million). Orders on hand continued to increase, primarily due to orders with extended delivery periods. These relate in particular to orders for pumps and valves for power stations that will not be constructed until 2009 or thereafter.
To manage the higher volume of orders, the company is investing approximately € 70 million in new production and testing facilities at its German locations. KSB also increased its workforce in the first six months. The KSB Group employed 14,114 people at 30 June 2008, 363 more than at the prior-year date.
Source: KSB SE & Co. KGaA
