Strong performance in first half
First half 2019: Danfoss delivered a strong performance in a toughening market, continued to push high investments in innovation, and acquired technology within electrification. Group sales grew by 4 % to 3.2 billion euro, but the second quarter was characterized by a market growth slowdown in several industries. Danfoss' earnings (EBIT) amounted to 351 million euro, which is close to the very strong results from the first half last year, when adjusted for the gains from last year’s divestment of the heat pump business Thermia. The EBIT margin was 11.1 %.
"We will continue to invest to strengthen Danfoss in the long term and secure future growth. That is the core of our strategy and the way we can remain at the forefront and be the most attractive technology partner for our customers," Kim Fausing says.
2018 – a strong year for Danfoss
In 2018, Danfoss delivered strong growth of 7% in local currency. The growth was strong in the major markets of North America, Europe and China and led to robust financial results within range of guidance. The momentum was broadly based across Danfoss, and Danfoss Power Solutions, in particular, delivered a very strong year. During the year, Danfoss announced six acquisitions, which will contribute to strengthening our core businesses, digital offerings and solutions for electrification.