News Column

DGAP-Adhoc: KSB Aktiengesellschaft: KSB revises forecast for sales and earnings

August 8, 2014

KSB Aktiengesellschaft / Key word(s): Change in Forecast 08.08.2014 12:24 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc statement according to art. 15 German Securities Trade Act (WpHG) 8 August 2014 KSB revises forecast for sales and earnings The KSB Group, a manufacturer of pumps and valves, expects a weaker than formerly forecasted development of sales and earnings for 2014. The company therefore revises its forecast for the year. Regarding order intake KSB, however, still expects to be able to exceed in 2014 its previous year's figure. The revision of the forecast is made on the basis of preliminary figures of the first half year 2014. According to them, sales as per 30 June 2014 amount to 1,011.6 million EUR and are thus 7.2% below previous year (1,090.1 million EUR). The shortfall of 78.5 million EUR is mainly due to currency effects (50.7 million EUR) and delays in current projects. The weak sales development and the continuing low profitability in the power plant business have resulted in markedly lower half-year earnings before taxes. According to preliminary figures earnings before taxes as per 30 June 2014 amount to 20.7 million EUR (previous year 48.8 million EUR). Instead of the forecasted increase in sales, the company now expects sales revenues for the current year to stay moderately below previous year's level (previous year: 2,247.3 million EUR). Earnings before taxes will go down in 2014 instead of increasing slightly as forecasted. The company expects earnings before taxes for 2014 in a range between 60 and 85 million EUR (previous year: 119.4 million EUR). These include negative impacts in the second half of the year as a result of the restructuring measures already announced. Due to the favorable order intake in the current year, the company expects a notable improvement in sales and earnings in 2015. The final figures for the first half year will be published with the half-year financial report on 13 August 2014. 08.08.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: KSB Aktiengesellschaft Johann-Klein-Strasse 9 67227 Frankenthal Germany Phone: +49 6233 86-2020 Fax: +49 6233 86-3435 E-mail: Internet: www.ksb.com ISIN: DE0006292030 WKN: 629203 Listed: Regulierter Markt in DÜsseldorf, Frankfurt (General Standard); Freiverkehr in Berlin, Hamburg, MÜnchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: DGAP Ad Hoc Disclosures


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters