Danfoss reports 8% sales increase

DENMARK: Danfoss reports a sales growth of 8% to €4,569m in the first nine months of 2018.

Earnings increased by 11% to €549m and the net profit improved by €48m to €374m.

“The increasing focus on solving climate change makes our energy efficient technologies more relevant than ever before,” said president and CEO Kim Fausing. “At the same time, our customers increasingly demand more intelligent systems, for example, for buildings and supermarkets, which use our advanced digital solutions to use less energy and limit the risk of food loss.”

Largest increases were driven by the Danfoss drives and heating businesses. Danfoss Cooling is reported to have delivered solid growth but with a profitability below the first nine months of last year. Cooling sales performance varied across the regions and product categories, with the highest growth rates in the Asia-Pacific and Western Europe regions.