Danfoss continues momentum
Q1 2019: Danfoss has continued to drive growth and a high level of investments to fuel future growth. Measured against a strong first quarter in 2018, Group sales grew by 6% to EUR 1,563m. On the back of continued high investment levels, earnings (EBIT) amounted to EUR 160m, which is on par with last year’s strong first quarter, leading to an EBIT margin of 10.3%.
”We have had a good start to the year. Our energy-efficient and innovative solutions have never been more relevant; We continue to strengthen our core businesses and increase our investments in innovation. Furthermore, we continue our high investments in creating a strong platform within electrification and digitalization. This is our way of getting ahead and fuel future growth,” says Kim Fausing, President and CEO.
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.