KSB triples consolidated earnings
Board of Management Chairman Dr. Wolfgang Schmitt reported on "the most successful year in KSB´s recent history" at the Company´s financial press conference in Frankenthal on 25 April.
The pumps and valves manufacturer´s order intake was up 16.7 percent in 2006, at approximately € 1.71 billion; consolidated sales revenue rose by 14.7 percent to approximately € 1.61 billion. The Group´s results of operations improved substantially, with pre-tax earnings (EBT) tripling to € 90.2 million (previous year: € 29.6 million). The parent company KSB AG, which posted a loss in the previous year, also recorded positive earnings at € 5.9 million (previous year: € -20.9 million).
The Board of Management and the Supervisory Board have therefore proposed a dividend payment of € 2.00 for ordinary shares and € 2.52 for preference shares to the Annual General Meeting. In addition, shareholders can also be pleased about rising share prices. In 2006, the price of ordinary shares increased by 146 percent and that of preference shares rose by 176 percent. In the first months of this year, prices trended further upwards.
In 2006, KSB focused on improving its cost structure primarily at its European locations and boosting productivity. The average output per employee increased by approximately 10 percent, from € 111 thousand to € 122 thousand. At the end of 2006, the Group employed 13,063 people, 100 more than in the previous year.
KSB has also been successful so far in 2007. The Group´s order intake was 19.0 percent up on the previous year in the first quarter; at the same time, consolidated sales revenue increased 13.8 percent.
On the back of sustained demand, KSB expects financial year 2007 to be a success and aims to achieve further sales revenue and earnings increases.