FRANKENTHAL (dpa-AFX) - The pump and valve manufacturer KSB has reported a jump in earnings in 2023 despite a weak final quarter. Earnings before interest and taxes (EBIT) in 2023 will be significantly higher than the previous year's figure and reach the upper half of the forecast of 210 to 230 million euros, the company announced in Frankenthal on Wednesday on the basis of preliminary business figures. This was driven by the high-margin service and spare parts business. Although KSB also felt the effects of the weakening economy towards the end of the year, CEO Stephan Timmermann is confident that business will continue to develop positively in 2024.

Sales revenue in the fourth quarter was almost 6 percent below the previous year's figure of 749 million euros - despite a slight increase in order intake. According to the preliminary figures, however, sales revenue for the year as a whole was still up by 9.5 percent to over 2.8 billion euros.

KSB plans to present its full annual report on March 26 /lew/jha/.