- Strong spare parts business helps pump manufacturer KSB
Pump and valve manufacturer KSB is on track to meet its 2024 targets after the first half of the year. Despite the introduction of a new software system likely impacting results, the board has reaffirmed its forecast for the current year, as announced by the company in Frankenthal, Germany. This translates to earnings before interest and taxes (EBIT) of between 210 and 245 million euros. In the first half of the year, KSB generated 116 million euros in operating business, up 3.7% from the previous year.
According to CEO Stephan Timmermann, the cautious approach to large investments and the struggling construction industry continue to make an impact. Order intake increased by 2.2% to around 1.6 billion euros in the first six months of the year, and KSB's revenue grew by 3.7% to over 1.4 billion euros. Notably, the aftermarket business performed well in the first half of the year.
The first half of the year saw KSB generate 116 million euros in operating business, representing half of the year's targeted earnings before interest and taxes (EBIT). With the second half of the year still ahead, the company is optimistic about reaching its 2024 targets.
