Grundfos Reports Half-Year Result: Continued Profitable Growth
Grundfos reports continued momentum and sales growth in most markets with Western Europe, China, and the global Service Business as the main contributors. The financial performance of Grundfos is reported as- Organic sales growth in local currencies of 1.9 per cent (2.8 per cent in DKK); Net turnover of DKK 13.2 billion; earnings before interest and tax (EBIT) of DKK 1,177 million, an increase of 22.1 per cent as compared to 2018.
“We are very satisfied with our financial performance for the first half of 2019. Revenue has grown in our core markets, and combined with disciplined control of costs, we deliver the highest ever sales and EBIT in a first half of the year,” said Mads Nipper, CEO, Grundfos. “Our teams have done a fantastic job in an increasingly volatile market, and I am proud to see the dedication all over the world to deliver a positive impact on climate and water while running a profitable business.”
An increasingly uncertain market influences expectations for the second half of the year and the full-year outlook. Grundfos expects the global market to be affected negatively by trade barriers and a generally growing level of uncertainty. Hence, we expect a low single digit growth for the entire 2019.
The Grundfos purpose of pioneering solutions to the world’s water and climate challenges is at the core of all activities, and progress has continued during first half of 2019. During the first six months of 2019, Grundfos reduced their own energy consumption by 11% and water usage with 10% in their operations as compared to the same period last year. More importantly, they continued to contribute to significant energy savings for our customers and bring safe drinking water to people in need.
The Grundfos Strategy 2025 is founded on our positive contribution to United Nations Sustainable Development Goal 6 and 13:
We will reduce our own CO2 emissions by 50% by 2025. By 2030, we aspire towards positive climate. We will halve our own water consumption by 2025. By 2030, we will have contributed to providing safely-managed drinking water to 300 million people in need. In addition, through water efficiency and water treatment we will have saved 50 billion m3 of fresh water.
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