KSB SE & Co (KSB) H2 2025 earnings summary

Executive summary

• Order intake and sales revenue exceeded €3 billion for the first time, with EBIT reaching a record €252 million and an EBIT margin of 8.3% (9.2% excluding SAP S/4HANA costs).

• Demonstrated resilience and operational excellence amid currency headwinds, supply chain disruptions, and sectoral slowdowns in key markets.

• Strategic investments in digitalization, capacity expansion, and local presence underpin continued growth and value creation.

• Equity ratio increased to 48.3%, and positive economic value added of €56 million was achieved.

• Preference share price rose 60% year-over-year, outperforming the SDAX.

Financial highlights

• Order intake: €3,203.1 million, up 2.9% year-over-year; FX headwinds reduced reported growth by €84 million.

• Sales revenue: €3,034.7 million, up 2.3% year-over-year; growth would have doubled without currency devaluations.

• EBIT: €252.1 million, up €10–12 million from prior year; adjusted EBIT (excluding SAP S/4HANA costs) was €278.7 million, with a margin of 9.2%.

• Earnings after tax: €166 million; EPS over €80 per ordinary share.

• Dividend proposal: €26.50 per ordinary share, €26.76 per preference share.

Outlook and guidance

• 2026 forecast: order intake €3,100–3,500 million, sales €2,900–3,200 million, EBIT €220–265 million.

• Guidance reflects current geopolitical risks, especially in the Middle East, and a weak start to the year.

• SAP S/4HANA project costs to remain stable in 2026, with go-live planned for January 2027.

• Focus on intensifying sales, expanding service, cost control, and local investments to drive resilience.

• Opportunities seen in energy, water, and emerging markets.