Cooling drives Danfoss to record profits

DENMARK: The demand for energy efficiency and climate-friendly solutions are said to be behind Danfoss’ 11% growth and record profits in 2015.

For the Group, net sales were DKK38,031m (€5,103m) against DKK34,375m (€4,613m) in 2014. The net profit of DKK2,597m (€348m) was a record-high and 13% above last year.

The increases were largely due to its Danfoss Drives and Danfoss Cooling businesses. Its Cooling business, which accounts for 28% of group sales, returned net sales of DKK10,796m (€1,449m), against DKK9,959m (€1,336m) in 2014. This was equal to a sales growth of 3% in local currency and 8% in DKK.