1st half-year 2020: Robust results despite COVID-19
COVID-19 has impacted sales and profits in the first half – Global focus on infrastructure and the green transition makes Danfoss technologies more relevant than ever.
Danfoss sales amounted to EUR 2.9 billion in the first half, which is 10% lower than the same period last year. Operating profit (EBITA) reached EUR 309 million, 19% below the same period last year, with an EBITA-margin of 10.8% against 12.1% in the first half last year.
"I am proud of how our teams around the world have handled the difficult situation. We have responded quickly with a focus on employee safety. We have kept our people on board, served our customers and adjusted our costs to the lower activity level. We have kept the factories going globally and strengthened our digital presence towards our customers and suppliers. At the same time, we have maintained focus on our strategic direction,” says Kim Fausing, Danfoss President and CEO.
2019 – A good year for Danfoss
Danfoss increased the sales by 3% to EUR 6.3 billion and delivered strong operating profits (EBITA), that grew 6% to EUR 771 million with an EBITA margin of 12.3% - a record high operating profit level from a historical perspective. Cash flow from operating activities increased 17% to a very strong EUR 789 million. During the year, Danfoss announced four acquisitions, which will contribute to strengthening our core businesses, digital offerings and solutions for electrification.