In 2011, KSB achieved consolidated earnings before taxes
(EBT) of € 120.5 million, based on sales revenue of € 2,091
million. The company proposes to pay shareholders of KSB AG
a dividend at prior-year level.
At the KSB AG Financial Press Conference on 30 March in
Frankenthal, the Chairman of the Board of Management Dr.
Wolfgang Schmitt described 2011 as having overall been a
successful year, but with diverse trends. Strong demand in
the general business with standard pumps and valves had
resulted in a strong order intake; in project business, in
contrast, there had been a palpable reluctance by many
investors to invest in major projects.
Order intake in 2011 therefore only increased by a moderate
2.8 % to € 2,132.3 million. At the same time,
consolidated sales revenue increased by 7.8 % percent to €
2,091 million, exceeding the two billion euro mark for the
first time. Ten companies consolidated for the first time
contributed € 64.7 million to the growth in sales
revenue.
KSB AG's order intake in the past financial year grew by
4.5 % to € 818.9 million, while sales revenue rose by 4.2 %
to € 811.3 million.
With a return on sales of 5.8 % in 2011, the Group
succeeded in generating earnings before taxes of € 120.5
million (previous year: € 135.8 million). Reasons for the
lower earnings were the high pressure on prices in project
business and increased materials cost.
KSB AG achieved earnings before taxes (in accordance with
the German Commercial Code [HGB]) of € 36.5 million
(previous year: € 39.8 million). However, the company
recorded a slightly higher net profit for the year of €
29.4 million compared with 2010 (previous year: € 27.9
million). The Board of Management and the Supervisory Board
will once again propose to the Annual General Meeting the
distribution of a dividend of € 12.00 per ordinary share
and € 12.26 per preference share out of this profit.
Due to the larger business volume the Group's balance sheet
total rose by 6.1 % to € 1,974.1 million. The net financial
position decreased in 2011 due to the financing of this
increased business volume and an acquisition in South
Korea, but still remains solidly positive.
The number of employees in the Group as at 31 December 2011
increased by 977 year on year to 15,674. This increase (+
6.6 %) is largely attributable to the addition of the staff
of the companies consolidated for the first time.
In the first two months of 2012, the KSB Group enjoyed
strong growth in order intake (+ 18.3 %) and sales revenue
(+ 9.8 %). The company expects its general business in
particular to continue growing strongly, while project
business is not expected to recover until 2013. In 2012,
KSB believes both order intake and sales revenue will grow
further overall; consolidated earnings should once again
reach the level of 2010.
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