- Net sales increased by 7.5% to DKK 33,904m from DKK 31.550m in 2010. When adjusted for the exchange rate effect, acquisitions and divestitures, growth was 10%
- Operating profit excluding other operating income and expenses was DKK 3,653m compared to DKK 3,400m the previous year
- Operating profit (EBIT) was DKK 4,226m compared to DKK 3,264m the previous year
- Profit before tax on continuing operations was DKK 3,218m compared to DKK 2,944m the previous year. Profit from continuing operations (after tax) was DKK 2,245m compared to DKK 2,207m in 2010
- Net profit was DKK 1,314m compared to DKK 1,378m the previous year
- Free cash flow was DKK 3,150m compared to DKK 2,646m the year before, while free cash flow before mergers and acquisitions (M&A) was DKK 2,078m compared to DKK 2,792m in 2010
- Dividend is proposed to be fixed at 25% of the net profit equivalent to 31.5% per share.
Expectations for 2012
The financial unrest and low financial visibility which characterized the end of 2011 are expected to continue in 2012 resulting in a higher degree of uncertainty in the 2012 expectations. The traditionally large US and European markets are expected to continue being impacted by the debt crisis, failing confidence and consumer reluctance. On the other hand, above-average growth rates in the BRIC countries are expected to partially compensate for this. Concurrently, strong demand for climate and energy solutions is also expected to contribute to retaining the high net sales seen in 2011, despite the financial unrest and divestitures carried out in the first half of 2011. At the same time, Danfoss as a whole expects to retain the recently obtained profitability level through the strategic adjustments, which have been implemented since 2010 and which will continue to receive extensive attention in 2012.
- The 2012 net sales are expected to remain at the same level as 2011
- The 2012 operating profit is expected to remain at the same level as 2011
The expectations do not include the impact of divestitures, discontinued operations or acquisitions.
Please address any enquiries to:
Niels B. Christiansen, President and CEO, tel.: +45 74 88 75 50
Per Have, Chief Financial Officer, tel.: +45 74 88 40 01
Markela Dedopoulos, Vice President Corporate Communications, tel.: +45 23 37 65 90