Highest growth in six years, strong earnings and massive investments in the future.
“We are very satisfied with our 2017 results. Throughout the year, we have seen extraordinary, high growth, and we deliver a strong bottom-line. At the same time, we have made significant investments in growth initiatives and digitalization, and we acquired several key technologies that will help us retain our position as a leading technology provider, thereby creating the best possible value for our customers,” says President & CEO Kim Fausing.
The business segment Danfoss Power Solutions delivered a very strong performance in 2017, and the other three business segments also grew faster than the markets and the overall global economy. Overall, the growth in sales and earnings was broadly based across Danfoss’ markets and particularly strong in the BRIC countries and in the US.
Among other things, the growth in China is driven by major investments in energy efficiency to solve the challenges of climate change and air pollution. In India, Danfoss sees a significant focus on solutions, which ensure fresh food for the growing population, and in the US, which is Danfoss’ largest market, particularly the increased investments in infrastructure are driving the higher sales.
“We are entering 2018 with momentum across our businesses. Our products and solutions perfectly match the global trends, such as electrification, urbanization and increased focus on energy efficiency to fight climate change. And in combination with a solid financial foundation and competitive edge in our supply chain operations, we have a strong outset to continue our growth trajectory and massive investments in the future,” says Kim Fausing.
Financial highlights from the annual report:
Outlook for 2018
We expect to maintain or expand our market share, while maintaining the profitability measured as margin at 2017 level following significant investments in digitalization.
For more information:
Danfoss Media Relations: tel.: +45 70 20 44 88