Danfoss records 13% sales increase

DENMARK: Danfoss recorded a sales increase of 13% in the first quarter of this year.

The first three months of the year saw the company achieve net sales of DKK10.7bn (€1.44bn) across its cooling, heating, drives and industrial automation businesses.

Danfoss’ cooling business is said to have delivered strong growth in many of its key markets, including North America, China, and most parts of Europe.

“We maintain momentum and had a strong start to the year. We are gaining market shares and grow faster than the industry and the overall global economy,” commented president and CEO Niels B Christiansen.