KSB SE & Co (KSB) H2 2025 earnings summary

Executive summary

• Order intake and revenue both surpassed €3 billion for the first time in company history, with EBIT reaching a record €252.1 million and an EBIT margin of 8.3%.

• Equity ratio increased to 48.3%, and net financial position declined by €56 million year-over-year.

• Economic Value Added (EVA) was €56 million, and market capitalization reached €1.7 billion at year-end.

Financial highlights

• Order intake rose 2.9% to €3,203.1 million; revenue increased 2.3% to €3,034.7 million year-over-year.

• EBIT reported at €252.1 million; adjusted EBIT (excluding SAP S/4HANA costs) at €278.7 million, with a margin of 9.2%.

• Net income after taxes (EAT) increased by about €20 million to €166 million.

• Operating free cash flow declined to €46 million due to higher investments and working capital.

• Dividend proposal: €26.50 per ordinary share and €26.76 per preferred share.

Outlook and guidance

• 2026 guidance: order intake €3.1–3.5 billion, revenue €2.9–3.2 billion, EBIT €220–265 million.

• Guidance assumes Middle East conflict remains short-term; prolonged conflict poses risks to targets.

• Focus on margin protection, cost discipline, and expansion in energy, water, and emerging markets.