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Daikin Europe posts “best ever” results

BELGIUM: Daikin Europe has announced its “best result ever” with a 25% increase in turnover to €4.3bn for the year to 31 March 2022.

The announcement follows group results released by Japanese parent company Daikin Industries reporting net sales of JPY3.1 trillion (€22.6bn), up 24.7% from the previous year. Operating profit was JPY316.35bn (€2,306m), up 32.6% year-on-year and net income was up 39.3% at JPY217,799m (€1,588m).

Daikin Europe reported strong sales growth across all of its business units, including residential air conditioning, commercial refrigeration and its services and solutions offering. The rebound in the commercial segment – following a difficult period due to Covid – was stronger than expected. In the refrigeration segment, strong demand from food retail chains is said to have had a positive impact on the results of Daikin’s subsidiary company AHT.

The most remarkable growth in Europe, however, was seen in the heating business. “In many of our most important markets, including Italy and Germany, authorities introduced major incentives to encourage home owners to replace older, fossil-fuel based technologies,” explained Takayuki Kamekawa, Daikin Europe’s vice-president of sales.

Related stories:

Daikin expected to report record profits8 May 2022
JAPAN: Daikin is expected to report a record net profit for the year ended March 31, on the back of strong sales in North America and Europe. Read more…

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