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Annual Report 2013: Danfoss ready for the future

Danfoss had a really good year in 2013, once again delivering solid results. We have strengthened our business and are poised for growth. The Danfoss Annual Report shows how well Danfoss continued to perform in 2013 and the strong position we are in today, both in terms of our financial results and the progress we made in the strategic initiatives under our Core & Clear group strategy. Danfoss fulfilled the expectations it set for 2013, just as in 2011 and 2012.

Danfoss maintained a high level of sales in 2013. Net sales amounted to DKK 33,628m, versus DKK 34,007m in 2012. Adjusted for changes in exchange rates, net sales were up by 2%.

The Group improved its earnings. Profit before other operating income and expenses grew by 4.8% to reach DKK 3,881m, up from DKK 3,705m in 2012.

Danfoss continued to improve its financial versatility. Free cash flow was DKK 3,527m, against DKK 2,924m in 2012.

At December 31, 2013, Danfoss had net interest-bearing debt of DKK 4,116m, equal to 0.8 × EBITDA for the last four quarters.

The return on equity was 19%, up from 18% in 2012. The equity ratio was 43.1%, against 51.1% in 2012.

Annual Report 2013: Danfoss ready for the future

Danfoss had a really good year in 2013, once again delivering solid results.