Global pump manufacturer Grundfos realised record sales of €4.6bn, a sales growth of 4.2% in line with its ambitions. Earnings before interest and taxes (EBIT) before special items also grew; to a record €578m against €529m in 2022. The EBIT result equals a 12.5% profit margin.
Growing key markets
“Despite a worldwide market slowdown, where we experienced lower demand in the second half of 2023, we managed to deliver full-year growth in key markets like Germany and UK as well as double-digit growth in the US,” said Poul Due Jensen, group president and CEO of Grundfos.
Sustainability progress
During 2023, Grundfos managed to reduce its total CO2 emissions by 9% year-on-year (YOY), as well as reduce its own water consumption by 7%. Finally, as 99% of the company’s emissions stem from installed products in use, efforts have been made in terms of product innovation and sales initiatives to drive energy and water efficiency for Grundfos customers.
“I am proud of the sustainability progress we have made in 2023, when it comes to our own emissions and water reduction and how we have helped our customers to save energy and water, as well as providing clean water access to millions of people in need,” added the CEO.
The group annual financial statements are reported in Danish krone. Euro figures are converted at a fixed Danish krone/€ exchange rate of 7.45.
Images: Grundfos
