Ownership

Danfoss A/S is an unlisted family and foundation-owned private company and the parent company of the Danfoss Group.

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The share capital of Danfoss A/S amounts to DKK 997 million and is divided into two share classes: Class A shares accounting for DKK 425 million and Class B shares accounting for DKK 572 million. Class A shares give rights to ten votes per DKK 100 share (nominal value), whereas Class B shares give rights to one vote per DKK 100 share (nominal value). Furthermore, owners of Class A shares have a pre-emption right to A-shares in the event of share capital increases. No other shares carry special rights.

The controlling shareholders of Danfoss A/S are the Bitten & Mads Clausen’s Foundation and the Clausen Family which, together, hold more than 99% of the shares, including all issued A-shares. Consequently, they control more than 99% of the voting rights. The controlling shareholders have entered into a shareholder agreement to ensure a stable future ownership structure.

Employees and senior leaders in Danfoss have, on several occasions, been offered the opportunity to buy employee shares.

Since 2006, Danfoss shares have been registered with the Danish Securities Centre (Værdipapircentralen). This means that the shares are generally not subject to trading restrictions or obligations. However, up until now, in practice Danfoss A/S has bought back shares, which holders have wished to realize at the price in force at the time in question.

Sale of Danfoss shares - deposit in Danske Bank

Danfoss has previously on two occasions offered shares to the employees. In addition, the Bitten & Mads Clausen’s Foundation in 2004 offered a total of 10,000 shares for sales via the so-called ”10,000 pool”. Shares from this pool can only be sold back to Danfoss in a period of three weeks following the Annual General Meeting in April. 

Danfoss buys back employee shares when shareholders wish to realize them. But there is only settlement once a month (around the third Monday). In the summer holidays (July) there is no settlement.

If the shares are in a Danske Bank deposit, please use one of the forms below:

Employee shares - Danish version
Employee shares - English version
Employee shares - German version
Employee shares - French version
Employee shares - Slovenian version
Shares from the 10,000 pool – Danish version
Shares from the 10,000 pool - English version
Template for proof of identity - English version
Template for the proof identity - Danish version

The completed form must be returned to: 

Mail: Danfoss A/S, Legal Department, Nordborgvej 81, A839, DK-6430 Nordborg 
E-mail: shareholderrelations@danfoss.com

Provided that the form is received no later than on the third Monday of the month, the sales proceeds will be deposited on the cash account associated with the deposit within the following 4-5 banking days.

For international transfers, please make sure to provide the following information when you submit the form. You may use the template for proof of identity: 

  • SWIFT address of your bank 
  • Name and address of your bank 
  • IBAN and account number in your bank 
  • The account number in Danske Bank
  • Tax Identification Number (TIN-number) 
  • A copy of first-class identification, e.g. your passport or driving license and a copy of your national ID card or social security card. The copy must be duly verified by two witnesses to the signature(cannot be a family member or a person having same address). 
  • Documentation from a public authority, e.g. electricity invoice, telephone invoice, or statement from your bank in your country that confirms your name and private address.
Sale of Danfoss shares - deposit in other bank

Danfoss has previously on two occasions offered shares to the employees. In addition, the Bitten & Mads Clausen’s Foundation in 2004 offered a total of 10,000 shares for sales via the so-called ”10,000 pool”. Shares from this pool can only be sold back to Danfoss in a period of three weeks following the Annual General Meeting in April. 

Danfoss buys back employee shares when shareholders wish to realize them. But there is only settlement once a month (around the third Monday). In the summer holidays (July) there is no settlement.

If the shares are in a deposit in a bank other than Danske Bank, please use the form below. The completed form must be returned to the bank. Further instructions are placed in the form. If you want to sell shares bought from the 10,000 pool, please use the special form below. If no form is visible, please contact shareholderrelations@danfoss.com

Employee shares, other bank – Danish version

Shares from the 10000 pool, other bank – Danish version

Dividends

Dividends are determined by the General Meeting upon recommendation from the Danfoss Board of Directors. Dividends are paid out in Danish kroner and is deposited on the dividend account associated with the share deposit.

April/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009
Dividend per share (DKK) 10 10 10 12.5 15  18 20   25 20

 

April/Year 2010 2011 2012 2013 2014 2015 2016 2017  2018     
Dividend per share (DKK) 0 10 31.5 39.2 78.3 48.90 51.8 50.2 60.2

 

Taxation upon share sales and dividends

Taxation upon share sales
Taxation upon share sales varies from one country to another. In Denmark profit from share sales is taxable and must be declared to the Danish tax authorities. The shareholder is responsible for reporting taxable profit.

Taxation upon dividends
Taxation upon dividends varies from one country to another. In Denmark dividends are taxed 27%. Danfoss retains and pays in tax upon dividends paid out in Denmark and in countries with which Denmark has signed joint taxation agreements (Belgium, Canada, Greece, Holland, Ireland, Luxembourg, Norway, Switzerland, UK, Sweden, Germany and the US). Share holders are responsible for controlling whether dividends have been correctly declared on their income tax return.

Danfoss does not advise share holders in tax matters but urges shareholders to seek independent advice concerning their tax matters. Furthermore, Danish share holders are referred to SKAT, phone: +45 7222 1818.

Transfer of shares to pension deposit

Please note: if liable to DK taxation, tax must be paid of Danfoss shares transferred to a pension deposit – like in case of a sale.

Share price development

The Danfoss share price is set once a year by Danske Markets (part of Danske Bank A/S) immediately before the annual general meeting in April. The share price is calculated on the basis of, among other things, the financial performance of Danfoss, the Group’s expectations to the upcoming year, its ability to meet expectations, the financial development of a number of comparable companies and their expectations for the future as well as the general development in the stock markets.

April/Year 2001 2002 2003 2004 2005 2006 2007 2008 2009
Share price(DKK) 749 752 931 1,307 1,438 1,791 2,273 2,127 830

 

April/Year 2010 2011 2012 2013 2014 2015 2016  2017  2018 
Share price(DKK) 1,077 3,431 3,198 3,460 4,116 4,267 4,904 6,100 6,981


 

Annual General Meeting

The rules governing the convening and the holding of the general meeting is laid down in Danfoss Articles of Association in Danish