The data for the first three companies has been analyzed above; the data for the other companies is summarized below:
KSB: Strongest Growth in the Pump Business
In the first half of 2025, KSB's sales revenue reached €1.465 billion (approximately RMB 12.25 billion), with second-quarter sales reaching €756 million, a year-on-year increase of 1.8%. Excluding the €18 million exchange rate impact, sales growth would have been 3.1%.
Sales revenue in the Middle East/Africa region increased by 8.1% year-on-year, in the Asia-Pacific region by 5.8%, in Europe by a slight 1.0%, and in the Americas by a 2.8% year-on-year decrease.
In the first half of fiscal 2025, KSB achieved €108 million in EBITDA, a slight decrease from €116.3 million in the same period last year. The Pumps segment achieved €27.3 million in EBITDA, a significant increase from €17.6 million in the same period last year, primarily driven by improved profitability in the standard market operations.
In terms of order volume, KSB's order intake increased by 3.3% to €1.698 billion in the first half of fiscal 2025. Excluding the €23 million exchange rate impact, the order growth would have been 4.7%.
The Pumps segment saw the strongest growth, with order intake reaching €941 million, an 8.2% year-on-year increase. The operating unit responsible for new pump business in the standard market achieved a 13.3% increase, driven by large orders in the water and petrochemical/chemical markets. Orders in the mining market increased by 4.9%. Compared to the same period last year, orders in the energy market decreased by 14.3%, benefiting from large orders.
Regional orders increased by 15.9% in the Middle East/Africa region, 5.9% in Asia Pacific, and 3.2% in Europe, while the Americas region saw a 3.5% decrease due to a weaker US dollar.
FLOWSERVE: "80/20 Strategy" Optimizes Product Portfolio to Drive Outsized Growth
For the first half of 2025, Flowserve's total sales reached $2.33 billion (approximately RMB 16.7 billion), a 3.9% year-over-year increase. Orders totaled $2.3 billion (approximately RMB 16.5 billion), a 0.7% increase.
Original equipment orders were $1 billion, and aftermarket orders were $1.3 billion. Operating profit margin and adjusted operating profit margin were 11.9% and 13.8%, respectively.
For the Pumps segment, total sales for the first half of 2025 were $1.602 billion (approximately RMB 11.5 billion), a 1.3% year-over-year increase from $1.582 billion in the same period last year. Orders totaled $1.576 billion (approximately RMB 11.3 billion), a 1.6% decrease from $1.602 billion in the same period last year.
Flowserve President and CEO Scott Rowe stated that the company's strong second-quarter performance demonstrates the continued effective execution of its 3D Growth Strategy and the Flowserve Business System.
The Flowserve Business System is now firmly established across the company, with the official launch of the "Commercial Excellence" pillar program, a powerful complement to the "80/20 Strategy." This initiative aims to drive outsized growth and maximize customer value by optimizing the product portfolio.
ANDRITZ: A strong order backlog and unchanged full-year profit targets.
In the first half of 2025, ANDRITZ achieved sales of €3.657 billion (approximately RMB 30.57 billion), a year-on-year decrease of 8.4%. Orders totaled €4.73 billion, a year-on-year increase of 22.9%, demonstrating strong market order intake and future business growth potential.
In its Environment & Energy division, sales in the first half of the year reached €703 million (approximately RMB 5.877 billion), a year-on-year increase of 1.8%. Orders were €776 million, a year-on-year decrease of 14.6%. The decline in orders was primarily due to a lack of large-scale project contracts in the Clean Air, Separation Technologies, and Feed & Biofuels business segments. However, significant order growth in the Pumps business segment partially offset the downward pressure in other businesses.
Based on the current strong order backlog, continued high demand for green technology and services, and the positive contribution from recently acquired businesses, ANDRITZ expects full-year sales in 2025 to be between €8 billion and €8.3 billion. Thanks to steady growth in its services business, improved project execution efficiency, and proactive capacity optimization and portfolio improvements in its Metals and Pulp & Paper businesses, the ANDRITZ Group maintains its 2025 comparable EBITA margin target of between 8.6% and 9.0% (excluding non-operating items).
In China, ANDRITZ achieved sales of €459 million in the first half of 2025, a year-on-year increase of 5.0% compared to €437.2 million in the same period last year. Within this segment, sales in the Environment & Energy segment reached €95.6 million, a year-on-year increase of 1.7% (compared to €94 million in the same period last year), demonstrating the solid growth of this business in the Chinese market.
ITT Raises Full-Year Revenue Growth Forecast by 5% to 7%
ITT achieved strong performance in the first half of 2025, with total revenue reaching $1.885 billion (approximately RMB 13.43 billion), an increase of approximately 3.8% year-over-year. This was primarily driven by increased pump project shipments in the Industrial Process (IP) segment, increased demand for aerospace and industrial connectors, and pricing strategies and acquisition benefits in the Connectivity and Control Technologies (CCT) segment.
In the first half of 2025, ITT's operating profit was $326 million, a year-over-year increase of 5.7%, primarily driven by improved production efficiencies and pricing strategies, partially offset by acquisition-related temporary amortization, restructuring charges, and increased material and labor costs.
In the Industrial Process segment, revenue in the first half of 2025 was $689 million (approximately RMB 4.91 billion), an increase of approximately 3.8% year-over-year. This was primarily driven by second-quarter growth, particularly strong performance in the pump project (including Svanehøj), and effective pricing adjustments. Operating margin increased to 21.5%, up 140 basis points year-over-year, driven by pricing strategies, improved production efficiencies, and higher sales.
ITT's order intake exceeded $1 billion for two consecutive quarters, and its backlog reached nearly $2 billion as it entered the third quarter, a significant increase compared to the same period last year. All segments achieved organic revenue growth, with operating income growing at more than twice the rate of sales, demonstrating strong competitiveness and profitability in several key markets.
Based on the strong first half of the year and the expectation of more stable demand in the second half of 2025, ITT has raised its full-year revenue and earnings per share (EPS) guidance range. For 2025, ITT expects total revenue to grow 5% to 7%, with organic revenue growth of 3% to 5% (maintained). Operating margin is expected to be between 17.5% and 18.1%, with an adjusted operating margin of 18.1% to 18.7%, representing year-over-year increases of 30 to 90 basis points.