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Danfoss sees half-year sales rise 13%

DENMARK: Danfoss has seen sales grow by 13% in the first six months of 2017.

Net sales grew by DKK2.4bn (€0.3bn) to reach DKK21.8bn (€2.9bn). Operating profit improved 10% to reach DKK2.5bn (€332m), and the net profit was DKK1.5bn (€200m).

“We have had a strong first half-year, with all of Danfoss’ core businesses delivering good sales growth,” commented new president and CEO Kim Fausing. “Over the past few years, we have made targeted efforts to accelerate growth by investing in innovation and high potential growth markets, and the results are paying off. Our growth and earnings power paves the way for investing heavily in growth, digitalisation, and new technologies.”

Danfoss says strong results were seen across all core businesses and markets, with the BRIC countries and China, in particular, showing significant growth on the back of increasing demand for climate-friendly and energy-efficient technologies. Danfoss also reports continued good performance in its two largest markets, Europe and North America.

The company’s innovative technologies, including its Turbocor compressors, are said to have generated double-digit growth rates. Danfoss says it will continue to focus on innovation and the acquisition of new technologies. In June, Danfoss acquired Prosa, a Venice-based software company with expertise in IoT, smart equipment and user interface design.

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Danfoss buys software company5 June 2017
DENMARK: In an effort to expand its connected cooling solutions, Danfoss has acquired Prosa, a Venice-based software company with expertise in IoT, smart equipment and user interface design. Read more…

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