DENMARK: Danfoss has report improved half-year results, with group sales increasing 4% to DKK19.4bn (€2.61bn) compared to 2015.
Operating profit was significantly better – up by by 18% to DKK 2.2bn (€300m).
All of Danfoss Group’s four business segments increased net sales during the first six months. Danfoss Cooling and Danfoss Heating, in particular, are said to have lifted the sales and delivered significantly improved earnings.
A demand for greater energy efficiency and more climate-friendly solutions in Danfoss’ largest markets, including Europe and China, are said to be behind the improved results.
“We are beginning to see the impact from our targeted growth initiatives, investments in innovation and our continued focus on our competitiveness reflecting a positive development in our market share,” commented president and CEO Niels B Christiansen. “In combination, this makes us capable of investing further in our growth initiatives and our digital transformation, in particular,” he added.