The Frankenthaler, Germany-based pump and valve manufacturer Kesbee continued the good momentum of the fiscal year 2023 in the first quarter of 2024. The key performance indicators order intake, sales revenue, EBITDA and EBIT margin all increased compared to the same period last year.

In the first quarter of fiscal year 2024, KSB's order intake increased by 0.4 percent to €863 million. Order growth was strongest at €283 million, or 8.0 percent, in KSB Premier Services. Order intake in the Valves business increased by 6.0% to €127 million. In contrast, order intake in the pumps business decreased by 5.1% to €453 million. Thanks to a number of major orders in the first three months of 2024, orders in the Energy market face increased by 59.4 % (+€32 million). The Mining market face continued its strong performance, although orders were down in the quarter compared to the same period last year (-56.2 % / -€2,700). In the standard market segment, Caersby expects to maintain its good momentum in the current fiscal year - although the order intake decreased to €346 million (prior-year period: €376 million), which is attributable to the fact that the water market face received more orders in the same period of the previous year.

In the first three months, KSB's sales revenue increased by 3.8 percent to €693 million. The valves business grew by 8.5% to €94 million, the largest increase. Sales revenues at Caersby Service Excellence grew to €232 million (+5.4%), while sales revenues in the pumps business increased by 1.6 % to €367 million.

EBIT rose by 7.1 % to €48.4 million in the first quarter (vs. €45.2 million in the same period last year). The EBIT margin was 7.0%, compared to 6.8% in the same period last year. EBIT at KSB Premier Services increased by 7.7% (€43.1 million), while EBIT at the valves business was almost flat compared to the same period of the previous year (-€0.1 million). At €5.4 million, EBIT in the pumps business failed to reach the prior-year level of €8.3 million. 

Dr. Stephan Timmermann, Chairman of the Board of Directors, explained: “In terms of the economic situation, the global political turmoil, the continuing weak demand in Europe, and the slowdown in the Chinese economy all characterized the overall situation. The “tailwind” effect of economic recovery that we had expected failed to materialize in the first quarter of 2024. As a result, we are also more than satisfied with the results achieved in the first quarter, and with our broad range of product applications and global presence, we have succeeded in further improving the Group's performance.”