KSB Group Reports Slight Growth in Order Intake
The consolidated order intake of KSB improved to € 1,564.2 million in the third quarter of 2010. At the end of September, the pumps and valves manufacturer thus posted a 6.5 % increase compared with the same period in 2009. The mid-year order intake volume had still fallen short of the previous year’s figures.
The positive development was mainly attributable to order intake in the Regions Asia / Pacific, Americas and Middle East / Africa, which all saw double-digit percentage growth. The total value of orders received by KSB s European companies overall was lower than in 2009 due to the late-cyclical nature of the project business.
By the end of September, Group sales revenue had reached € 1,400.4 million. This level is on a par with the previous year (- 0.1 percent), in which the KSB Group had reported the second best sales revenue in its history.
As anticipated by the company, consolidated earnings before taxes (EBT) for the first nine months were lower than in the prior-year period. On the one hand, this shortfall came as the consequence of an intensified price war on the market which resulted in lower revenue, particularly for project orders. On the other hand, earnings in the current year are impacted by higher depreciation/amortisation charges for major investments made in the previous years and additional staff costs.
KSB anticipates that the moderate recovery in its standard business will continue while project business will remain sluggish. Overall, the company expects to achieve slight growth in both order intake and sales revenue for the entire financial year.
Source: KSB SE & Co. KGaA
