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Germany's KSB Group saw revenues fall by 5.7% to 516.6 million in the first six months of this year while order intake rose just 0.6%.
The group's German operations, KSB AG, reported a 7.5% decrease in revenues, while the Asia Pacific region and the Americas also showed revenue declines. However the European sales and service companies posted positive revenue gains as did KSB SAS in France.
In terms of order intake, KSB AG achieved an 11.2% gain in order volume boosted by a number of large power plant orders. While Europe and Asia Pacific reported good growth in order intake levels, KSB's American operations saw a marked decline in orders, which was mainly currency-related.
Given the lower sales revenues, KSB Group made an interim loss before income tax of 6.9 million in the six months to 30 June 2003. This compares with a 3.0 million interim loss before income tax last year.
KSB Group employee numbers remained almost unchanged at 11 946 at the mid-year point. The number of KSB employees in Europe was up by 202, reflecting the expansion of service activities, the acquisition of the valves factory in LΓΌnen and the first consolidation of KSB Finland OY. Eighty six jobs were lost in the Americas and 101 in the Asia Pacific Region through personnel adjustments.
The May 2003 acquisition of the Dutch pump supplier DP Industries BV is not reflected in these half-year numbers (see Pump Industry Analyst, May 2003 and June 2003).
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