Pump giant Grundfos has been able to present record financial results after record financial results for a number of years. But last year, the company's revenue fell for the first time since 2020. This is shown by financial figures for 2024, which were published on Wednesday.
Last year, the company had a turnover of 33.2 billion. DKK against 34.4 billion. DKK the year before, it appears. Grundfos, on the other hand, has managed to raise its profit marginally to just over 3.4 billion. DKK. in the same period.
- Although the top line does not meet our expectations, I am overall satisfied with our financial results, and I am particularly satisfied with the positive growth we are experiencing in several of our key markets, says Poul Due Jensen, CEO of the company, in a comment on the accounts.
- I also note that despite a decline in sales, we continue to run a healthy business with great future potential.
Grundfos is a family and foundation-owned company with headquarters in Bjerringbro, which produces a wide range of pumps for use in the construction and energy and utilities sectors. 53-year-old Poul Due Jensen is the third generation in the family and shares his name with his grandfather, who founded the company in 1945. Grundfos has almost 20,000 employees in 60 countries around the world.
New strategy to drive growth
In 2024, the company grew in the American and Indian markets. Conversely, sales in China and Europe - including Germany - were negatively affected by lower demand, according to the annual report.
A new strategy is to help Grundfos' business grow again this year. The strategy has been named "Ignite 27". According to the company, this will help support both the goal of growth and the goal of reducing the CO2 footprint.
- The world remains an unstable and unpredictable place, but we are determined to deliver growth in the next financial year, says Poul Due Jensen.
- Furthermore, in the upcoming three-year strategy period, we will accelerate our growth journey and expand our position as a leading supplier of intelligent water and climate solutions on a global scale.
/ritzau/
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