With the release of its 2015 financial results, the Danish pump manufacturer Grundfos has revealed a significant increase in profitability, despite moderate sales growth due to stagnation in the global pump market. Sales were up just 0.8 percent in local currencies, resulting in a profit of USD 3.6 billion, 5 percent up on 2014 figures.
2015 Earnings before interest and taxes (EBIT) were USD 303 million, compared to USD 130 million the year before, and the Group’s profit after tax (PAT) will reach USD 2.2 billion, compared to USD 763 million in 2014.
In 2015, the company’s Americas sales region — which covers both North and South America — delivered strong growth. A growing economy and close customer interaction boosted sales in North America by 12 percent relative to 2014 in an otherwise mature market. May 2015 also marked the company’s 70th anniversary.
“We are retaining or gaining market share in key strategic markets. And our strategy of focusing on our core business and improving customer relationships is working,” says CEO Mads Nipper.
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