KSB SE & Co (KSB) H1 2026 earnings summary

Executive summary

• Order intake rose 8.8% year-over-year to €1,849 million, driven by strong performance in the Pumps segment and a major energy market order, including the first-time consolidation of Saudi Arabia.

• Sales revenue increased by 0.4% year-over-year to €1,471.4 million, with underlying growth stronger after adjusting for currency effects; the Pumps segment contributed most to growth.

• EBIT for H1 2026 was €98.4 million (margin 6.7%), including a €16.6 million one-off from the first-time consolidation of Saudi Arabia and €12.3 million in SAP S/4HANA implementation costs; EBIT declined year-over-year due to higher logistics and energy costs.

• Q2 performance rebounded strongly after a weak Q1, with profitability and sales improving sequentially.

• The company remains on track to achieve its Mission TEN30 targets and confirms its 2026 outlook.

Financial highlights

• Order intake grew by €150 million year-over-year, or €190 million on a like-for-like FX basis, reaching €1,848.7 million.

• Sales revenue increased by €50 million sequentially from Q1 to Q2 2026.

• EBIT margin was pressured by higher material, energy, and logistics costs, with cost of materials ratio rising from 39% to over 40%.

• Earnings after tax reached €60.7 million, with a stable tax rate of 31.7%.

• Free cash flow was lower than last year due to lower EBIT, higher working capital, and acquisition-related outflows.

Outlook and guidance

• Full-year guidance for order intake (€3,100–3,500 million), sales revenue (€2,900–3,200 million), and EBIT (€220–265 million) confirmed.

• Stronger sales, EBIT, and net financial position are expected in the second half of 2026.

• The company is confident in achieving at least the midpoint of its EBIT guidance range, supported by a record order backlog exceeding €2 billion.

• No narrowing of guidance range due to multi-year order backlog and ongoing uncertainties.

• Mission TEN30 targets remain in focus: €4 billion+ revenue and >10% return on sales by 2030.