Danfoss has had a habit of publishing record sales figures in recent years. But last year, revenue fell for the first time since 2020. This is shown by the industrial group's annual report, which was published on Friday.
In 2024, it had a turnover of 9.7 billion euros, equivalent to 72 billion kroner. The year before, revenue was almost 10.7 billion euros. At the same time, profits have more than halved to 370 million euros. Danfoss develops and produces mechanical and electronic components in the energy sector, among other areas. The group has been negatively affected by lower demand in end markets for machinery for agriculture and in the construction sector and road construction, among other areas.
The level of activity in both Europe and China has been weak, and the US has also shown signs of a slowdown during the year. In connection with the half-year report, Danfoss announced that it was initiating a new business plan. It would entail layoffs, but the group has previously not wanted to put a figure on it. The stock exchange writes on Friday that the company employed 39,360 people at the turn of the year. That was 2,700 fewer than the year before.
With the difficult market conditions in mind, CEO Kim Fausing is satisfied with how the year has gone.
- I am particularly excited that the strong results in our Climate Solutions and Drives businesses continue, he says in a press release and elaborates:
- We have strengthened our position in selected high-growth markets such as data centers, commercial heat pumps and selected applications within electrification such as the maritime area.
There are also a number of other things that are going well.
- In addition, we have maintained our high level of investment to expand our offering of competitive, innovative and leading technologies and solutions.
Danfoss believes that revenue will end in the range of 9.5-11 billion. euros in 2025.
jel /ritzau/
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
