Danfoss had a strong start to 2017 with growth of 13% and increased investments in digitalization
“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. We see that our growth initiatives are working, and we have invested in new companies, innovation and the development of new digital solutions to the benefit of our customers. So, it is a strong combination of organic growth and the impact from acquisitions, which are driving growth,” President & CEO Niels B. Christiansen says.
The progress of the Group is broadly based across its markets, including Danfoss’ two largest markets, Europe and North America; but, it is increasing sales in the BRIC countries, in particular, that have driven the increase in total net sales in the first three months of the year. India has, for a long time, delivered high double-digit growth rates, and as a result of considerably increasing demand for energy-efficient technologies, growth in China has increased and reached the same high level. At the same time, there are indications of improved market conditions in Brazil and Russia, which have suffered from an economic slowdown.
Key figures from first quarter 2017