In the first half-year of 2017, Grundfos has gained further global market share and improved their financial results. Net turnover hit DKK 12.2 billion (US$1.95 million), as compared to the DKK 11.6 billion (US$1.85 million) seen in the first half of 2016, which can be converted to an increase of 5.8 per cent. Earnings before interest and tax (EBIT) also rose by 26.9 per cent, from DKK 824 million (US$ 131.6 million) in the first half of 2016 to DKK 1.046 billion (US$167.3 million).
“We will continue the disciplined execution of our 2020 Strategy,” Mads Nipper, CEO and Group President, said. “I am particularly pleased to see that our increased focus on growth has paid off, and that we gained global market share while continuing to improve earnings.”
China and Russia are among the countries which have shown the strongest growth, though several markets, including Southern Europe, the Middle East, and Latin America have also developed well. The global service business also contributes well to the overall growth performance.
“However, we are still operating in unpredictable and challenging markets, so we have to fight hard to deliver further improved results in the second half. I am grateful and proud that all Grundfos employees are so dedicated to driving our 2020 Strategy forward,” Nipper continued. “In the future, we will further leverage on digitalisation to create even more value-adding products, services, and solutions for our customers. And we will remain focused on being an important part of the solution to the global water and climate change challenges.”