EQS-News: Annual General Meeting of KSB SE & Co. KGaA

Annual General Meeting of KSB SE & Co. KGaA

KSB very satisfied with 2022 financial year / Strong start to 2023 financial year

• Significant increase in order intake, sales revenue and earnings in 2022
• € 19.50 dividend per ordinary share
• Positive outlook overall

Frankenthal, 4 May 2023: The Frankenthal-based pump and valve manufacturer KSB achieved its highest ever order intake and sales revenue in 2022. EBIT was also up, beating out the past ten years. At the Group’s Annual General Meeting at the Frankenthal CongressForum, Dr Bernd Flohr, Chairman of the Supervisory Board, honoured this per­formance in front of around 150 shareholders, thanking the Management and employees for achieving this excellent result in spite of the various challenges.

2022 financial year

KSB increased its order intake by 18.7 % to € 2,862 million and its sales revenue by 9.8 % to € 2,573 million in 2022, while EBIT came in at 6.6 % (€ 169 million). The company invested € 122 million in sustainability, capacity expansion, digitalisation and production improvements. The war in Ukraine, the COVID-19 pandemic, a cyber attack and hail damage in France all presented the company with major challenges.

€ 19.50 dividend per ordinary share

The positive performance with a net profit for the year of € 127 million is especially to the benefit of KSB shareholders. They approved a dividend increase to € 19.50 per ordinary share (previous year: € 12) and € 19.76 per preference share (previous year: € 12.26). “I am delighted that we were able to overcome the many challenges facing us in 2022 and generate significant added value also for our shareholders,” said Dr Timmermann, CEO. “Customer focus, an optimistic mindset and team spirit were crucial in paving our path to success – and will ensure we remain on track in the 2023 financial year.”

Changes to the Supervisory Board

The shareholders present re-elected Klaus Kühborth, Managing Director of Johannes und Jacob Klein GmbH in Frankenthal, as member of the Supervisory Board. Johannes und Jacob Klein GmbH holds approximately 84 % of the voting shares in KSB SE & Co. KGaA. The regular election of the employee representatives on the Supervisory Board was held in April. Jürgen Walther will replace René Klotz on the Supervisory Board; all other members were re-elected for a further term of office.

Corporate strategy

KSB’s corporate strategy remains geared to growth and sustainability. Its cornerstones include digitalisation, the expansion of the service and spare parts business, and the consistent pursuit of its sustainability goals. The Climb 21 strategy project, which laid the groundwork for the company’s realigned organisational structure based on six high-growth Market Areas, the Valves business and the new KSB SupremeServ service brand, has been brought to a successful conclusion.

Positive outlook overall 

In the first quarter of 2023, KSB increased its order intake by 12.6 % and its sales revenue by 19.7 % compared with the previous year. EBIT like­wise outperformed the prior-year period. The investment volume is slated to be increased further in the current financial year. Despite the very heter­ogeneous nature of economic development worldwide, the Management remains fundamentally optimistic with regard to the further course of the 2023 financial year. Supervisory Board Chairman Dr Flohr underlined the “company’s resilience to withstand future crises and expand its earnings capacity”, saying that the global alignment of its Market Areas and Segments offer good prospects overall.

KSB is a leading international manufacturer of pumps and valves. The Frankenthal-based Group has a presence on five continents with its own sales and marketing organisations, manufacturing facilities and service operations. With a workforce of around 15,700, the KSB Group generated sales revenue of € 2.6 billion in 2022.