Danfoss comes out of the crisis strengthened
Net sales increased by 31% to 31,550m DKK from 24,165m DKK in 2009. Calculated at last year’s exchange rate and adjusted for acquisitions and divestments, growth was 25%, compared with −12% in 2009.
The result before other operating income and expenses was 3,400m DKK compared with −40m DKK the previous year.
Operating profit (EBIT) was 3,264m DKK compared with −1,431m DKK the previous year.
The result for the year was 1,378m DKK compared to −1,402m DKK the previous year.
The result is considered very satisfactory.
The free cash flow was 2,646m DKK compared to 964m DKK the year before, while the free cash flow, before M&A, was 2,792m DKK compared to 1,906m DKK in 2009.
The net interest-bearing debt was 6,675m DKK compared to 9,144m DKK the year before. The current net interest-bearing debt level equals 1.3 x the EBITDA of the year.
The dividend is proposed fixed at 10%.