Half-year Financial Report 2012
KSB Group posts significant sales revenue growth
Half-year financial report describes a more difficult market environment
Between January and June 2012, pumps and valves manufacturer KSB improved its sales revenue by € 128 million to € 1,098.5 million, which represents a 13.2 percent increase compared with the first six months of the previous year. According to its half-year financial report published today, the company recorded sales revenue growth in all three segments: Pumps, Valves and Service.
The strongest percentage growth was achieved by the Group’s subsidiaries in the Regions Asia / Pacific and Americas. A number of companies in central and northern Europe also performed well, among them KSB AG with a 7.4 percent increase to € 398.8 million. In contrast, the KSB companies in southern Europe saw sales volume decline due to the strained economic situation in this region.
At € 52.3 million, mid-year consolidated earnings before taxes were up 4.6 percent on the first half of 2011. Because of the higher increase in sales revenue, however, the return on sales was slightly lower at 4.8 percent (previous year: 5.2 percent). This was a result of the sustained pressure on prices in the market combined with higher material and staff costs.
The volume of new orders received in the first half of the year amounted to € 1,161.8 million, up 8.8 percent on the comparative prior-year period. The highest growth rate was achieved by the KSB subsidiaries in the Region Americas, where companies in the US and Chile benefited from increased demand from the mining industry for slurry pumps.
For the current year, KSB is aiming to achieve, despite the unfavourable cost trend, pre-tax earnings on a par with those in 2010 (€ 135.8 million), but also sees that economic uncertainty might jeopardise this target.
KSB employed 16,018 people worldwide as at 30 June 2012; this represents a 3.8 percent rise year on year.
Note: The complete half-year financial report is available to download at "Investor Relations".