KSB Aktiengesellschaft reported consolidated sales results for the year ended December 31, 2015. For the period, sales revenue was EUR 2,336.3 million against EUR 2,181.7 million a year ago. The company posted orders with a total value of EUR 2,260.9 million during the reporting year, down 2.6% compared with the previous year. Economic weaknesses in the energy sector, in petrochemicals and in the mining industry were key factors in this negative development. This 7.1% increase in revenue is attributable to major orders placed in previous years. These generated higher sales revenue for pumps and valves, while the orders received in the Service segment in the reporting year also contributed to growth.

For 2015, against the background of the improved sales revenue development and more favourable exchange rates The company expects the consolidated earnings before taxes to significantly exceed those of the previous year (EUR 72.6 million). Earnings however, will fall short of the prior-year figure, in particular on account of higher provisions for pensions.

For the 2016 financial year, the KSB Group expects order intake to grow, driven by sales of standard products and service orders. Large-scale orders from the Asian energy sector are also in the pipeline. In light of the weaker level of orders received in 2015, consolidated sales revenue is unlikely to match the previous year's levels. Consolidated earnings before taxes will continue to be affected by non-recurring costs, as KSB will intensify its cost-cutting programmes. These include, for example, plans to restructure global production, lower the number of companies and reduce the complexity of its product range.