Annual General Meeting of KSB AG
KSB aims to achieve further growth of sales revenue and earnings in 2007. This was the message presented by Chairman of the Board Dr. Wolfgang Schmitt at the Annual General Meeting of KSB AG on 13 June in Frankenthal. KSB at present sees especially good growth opportunities in industry, energy engineering and also mining.
After a 5.6 percent return on sales in the last financial year, the KSB Group aims to achieve a minimum of six percent in 2007 and to continue growing return on sales in the years to come.
From January to May 2007, the KSB Group improved its order intake by 14.8 percent to € 884.6 million compared with the same five-month period last year, while consolidated sales revenue increased by 15.7 percent to € 670.1 million.
To cope with the vigorous growth in order intake that started already in 2006, KSB is investing in an expansion of its production facilities and adding to its staff in 2007. In Germany, there are plans to build a factory for large power station pumps by the end of 2008. In addition, new production facilities are to be established for water pumps. KSB also aims to hire an additional 150 employees in Germany this year.
The Annual General Meeting passed a resolution adopting the proposal of the Board of Management and the Supervisory Board to pay a dividend of € 2.00 per ordinary share and € 2.52 per preference share. KSB shareholders also profited from substantial price gains last year. The price of ordinary shares, for example, rose by 146 percent during this period, while that of preference shares increased by as much as 176 percent.