Grundfos reports half-year result.
- Organic sales growth in local currencies of 1.9 percent (2.8 percent 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 percent vs 2018
Grundfos reports continued momentum and sales growth in most markets with Western Europe, China, and the global Service Business as the main contributors.
Mads Nipper, CEO of Grundfos, says: “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 1st half of the year.”
Nipper continues: “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 all of 2019.
The Grundfos purpose of pioneering solutions to the worlds water and climate challenges is at the core of all activities, and progress has continued during 1st half of 2019.
During the first six months of 2019, we reduced our own energy consumption by 11% and water usage with 10% in our operations compared to the same period last year. More importantly, we continued to contribute to significant energy savings for our customers and bring safe drinking water to people in need.
Mads Nipper said: “I am very proud that we continue our momentum and positive impact on the world's water and climate challenges. This progress gives us confidence on the journey towards our 2025 and 2030 ambitions. Our commitment and sustainability ambitions form the foundation for our newly launched 2025 strategy.”
The Grundfos Strategy 2025 is founded on our positive contribution to United Nations SDG #6 and #13:
We will reduce our own CO2 emissions by 50% by 2025. By 2030, we aspire towards climate positive. 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.
Grundfos is a global water technology company committed to pioneering solutions to the world’s water and climate challenges and improving the quality of life for people.
More information about Grundfos’s water and climate ambitions can be found at www.grundfos.com/wearepioneers