KSB Earnings Call: Results 2025
26 March 2026 I KSB SE & Co. KGaA
K SB EAR N I N G S C AL L : R ESU L T S 2025
Welcome on behalf of the board!!
Background AI-generated
This report contains forward-looking statements. These statements are based on the current estimates and forecasts of the Managing Directors and the information currently available to them. The forward-looking statements do not represent guarantees for the future developments and results they refer to. Rather, they depend on a variety of factors and include different risks and uncertainties, and are based on assumptions that might prove to be inaccurate. This presentation includes percentage and number rounding.
The KSB Annual Report is available from today (8:30 CET) for download from our website.
Agenda
Introduction
The 2025 Financial Year in Figures
The Drivers of Success in 2025
Outlook and Summary
1 Introduction
Deutsche Bahn meldet erneut Milliardenverlust
Im vergangenen Jahr hat die Deutsche Bahn weiterhin rote Zahlen
geschrieben. Das Minus fällt mit 1,8 Milliarden Euro aber geringer aus als Jahr 2023.
US-HandeIspoIitik
Headlines 2025
Donald Trump erlässt hohe Zölle TrehenvonTrumpundXi
auf alle US-Importe TPump erklärt Streit zwischen
China und den USA für beigelegt
Naher Osten
'" Donald Trump empfängt Wladimir
Wenig Aufträge, hohe Kosten
Putin zum Ukraine-Gipfel
Israel reift den Iran an
USA
se in der Chemieindustrie verschärft sich
IGeschäRsklima in der
Trump erlässt Zölle in Höhe von 25 Prozent auf Stahl und Aluminium
Gewinne bei Mercedes und VW brechen um rund 40 Prozent ein
Chemie bricht ein
Israel und Hamas einigen sich auf erste Phase des US-FriedenspIans
Kaschm
Indien meldet Angrifie Dax überschreitet erstmals auf Pakistan Marke von 24.000 Punkten
Arbeitslosenzahl steigt erstmals seit 2015 auf mehr als drei Millionen
The Environment in 2025
Geopolitical uncertainty and armed conflicts Low growth in China and Europe
Structural challenges in industrial and export-oriented-economies Trade-policy tensions and tariff-related barriers
Depreciation of key currencies
Unreliable supply chains
KSB Earnings Call I Results 2025 I 26 March 2026 7
Success Factors in 2025
Resilience
Confidence / Optimism
Flexibility / Agility
Pragmatism / Staying grounded
KSB Earnings Call I Results 2025 I 26 March 2026 8
The Fiscal Year 2025
Welcome to another Best Year!
KSB Earnings Call I Results 2025 I 26 March 2026 9
Development of Order Intake
3,300
+ 2.9 %
+ 39 %
3,114
3,203
3,100
2,959
2,900
2,862
2,700
2,500
2,412
2,454
2,303 | 2,143 |
2,300
2,100
2018 2019 2020 2021 2022 2023 2024 2025
€ m
KSB Earnings Call I Results 2025 I 26 March 2026 10
Development of Sales Revenue
3,100
3,000
+ 35 %
2,900
+ 2.3 %
2,965
3,035
2,800
2,819
2,700
2,600
2,500
2,573
2,400
2,300
2,383
2,343
2,200
2,246
2,208
2,100
2018 2019 2020 2021 2022 2023 2024 2025
€ m
KSB Earnings Call I Results 2025 I 26 March 2026 11
Development of EBIT
300
250
Thereof external cost for SAP S/4HANA: € 26.6 million
+ internal cost
+ 237 %
+ inefficiencies due to software freeze
+ 3.2 %
223.9
244.2
252.1
200
169.1
150
113.6
141.2
100
70.2
74.7
50
2018 2019 2020 2021 2022 2023 2024 2025
€ m
KSB Earnings Call I Results 2025 I 26 March 2026 12
Development of ROS
9%
ROS without external SAP S/4HANA-costs: 9.2 %
+ 152 %
8%
+ 1.2 %
7.9%
7%
6.6%
6.0%
6%
5%
4.8%
4%
3.2%
3.3%
3%
2%
2018 2019 2020 2021 2022 2023 2024 2025
€ m
8.2%
8.3%
KSB Earnings Call I Results 2025 I 26 March 2026 13
First summary
SatisfactionKSB Earnings Call I Results 2025 I 26 March 2026 14
2
The 2025 Financial Year in Figures2025 highlights at a glance
Order intake grows from € 3,114.0 million to € 3,203.1 million in 2025 |
Sales revenue of more than € 3 billion and EBIT of 252.1 € million again represent record levels for the company |
Preference share outperforms SDAX Share price 60 % higher at 31 Dec. 2025 than at 31 Dec. 2024 |
Reported EBIT: € 252.1 million
Reported EBIT margin: 8.3 %
EBIT adjusted for external SAP S/4HANA costs: € 278.7 million
excluding external SAP S/4HANA costs
Adjusted EBIT margin: 9.2 %
Equity ratio increases from 46.6 % to
48.3 %
External SAP S/4HANA costs
of € 26.6 million
Net financial position of € 315.4 million,
€ 55 million below the previous year
Increase in EAT of approx. € 20 million
to € 166 million
ROIC at 12.1 % higher than WACC
KSB generates value gains exceeding
cost of equity and borrowing costs.
Development of selected KSB Group key performance indicators from 2021 to 2025
CF from operating activities + CF from investing activities
Since 2021, return on invested capital has exceeded the cost of capital
ROIC in
%
EVA 2025
Creating
value
Destroying
value
WACC 8.3 %
ROIC (return on invested capital) is defined as earnings after taxes (EAT) divided by the average invested capital (current and non-current assets excluding cash).
To generate (added) value exceeding the cost of equity and borrowing costs, ROIC at KSB must be greater than 8.3 % (WACC = weighted-average cost of capital).
€ 56 million is the gain in value/contribution, exceeding the cost of equity and borrowing costs.
(12.1 % - 8.3 %) x € 1,461.3 thousand =
€ 56 million
€ 3,203
millions
2.9 % increase in order intake to
€ 3,203 million
Largest percentage increase in the Pumps Segment due to strong growth in the
Water market
Strong euro has impact on order intake, i.e. € 84.3 million
(USD: € 13 million; INR: € 26 million; BRL: € 12 million; CNY: € 11 million)
Order intake
€ millions | 2025 | 2024 | ∆ (abs.) | Currency ∆ (%) effects | |||||
KSB Group | 3,203.1 | 3,114.0 | 89.1 | +2.9% | -84.3 | ||||
Pumps | 1,759.6 | 1,658.6 | 101.0 | +6.1% | -49.4 | ||||
Valves | 413.0 | 407.4 | 5.7 | +1.4% | -10.2 | ||||
KSB SupremeServ | 1,030.5 | 1,048.1 | -17.6 | -1.7% | -24.7 | ||||
2.3 % increase in sales revenue to
€ 3,035 million
€ 3,035
millions
Sales revenue
€ millions | 2025 | 2024 | |
KSB Group Pumps | 3,034.7 | 2,965.2 | |
1,617.9 | 1,550.5 | ||
Valves | 403.9 | 398.8 | |
KSB SupremeServ | 1,012.9 | 1,015.8 |
∆ (abs.) | Currency ∆ (%) effects | ||
69.5 | +2.3 % | -77.4 | |
67.4 | +4.3 % | -43.2 | |
5.1 | +1.3 % | -10.0 | |
-2.9 | -0.3 % | -24.2 | |
Strong euro has impact on sales revenue, i.e. € 77.4 million
(INR: € 23 million; BRL: € 11 million; USD: € 11 million; CNY: € 10 million)
KSB SupremeServ at standstill compared with previous year; temporary decline in spare parts business in Mining market