Grundfos gains further global market share and improves the financial results for the first half-year of 2017.
Net turnover reaches DKK 12.2 billion compared to DKK 11.6 billion in first half of 2016, which represents an increase of 5.8 percent (5.5 % in local currencies). Earnings before interest and tax (EBIT) increase by 26.9 percent compared to first half of 2016, from DKK 824 million to DKK 1,046 million.
“We continue disciplined execution of our 2020 Strategy. I am particularly pleased to see that our increased focus on growth pays off, and that we gain global market share, while continuing to improve earnings,” says Mads Nipper, Group President and CEO.
China and Russia are among the countries which show the strongest growth, but several markets including Southern Europe, Middle East and Latin America also develop very positively. 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 work so dedicated to drive our 2020 Strategy forward,” says Mads Nipper.
“In the future, we will further leverage digitalization 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,” Mads Nipper says.
Highlights from the first half-year 2017:
· Net turnover of DKK 12.2 billion against DKK 11.6 billion in the first half of 2016, an improvement of 5.8 percent.
· EBIT was DKK 1,046 million against DKK 824 million in the first half of 2016, an improvement of 26.9 percent.
Financial key figures, half year 2017