We doubled earnings and are maintaining course The pump group has doubled its earnings and seen sales growth in the first half of 2015. These results are fully in line with our goals. Text: Frank B. Winther Photograph: Jeppe Plauborg Larsen R evenue has reached DKK 11.9 billion, compared to DKK 11.1 billion last year. Earnings have doubled to DKK 628 million from DKK 301 million. Grundfos has thereby achieved its objective of turning around four years of declining earnings. "We have done what we set out to do. "We are pleased that the comprehensive initiatives over the last year have produced solid and positive results to date. But we are still at the early stage of our journey, and the goal is to stick to our plans for a higher profit ratio and healthy growth," says CEO Mads Nipper. 4 Gmagazine October 15 USA in particular continues to deliver solid sales growth of 15% in the local currency, while Europe is stable with modest growth rates and an increasing market share. Sales in Russia are declining due to the difficult market conditions, while China remains virtually unchanged due to a reduced level of investment and unease in the Chinese economy. Other markets such as South America, the Middle East and Japan are all contributing positively to the Group's growth. "Competition is extreme everywhere, but the picture is that we are continuing to win market share in the majority of markets. The new Group strategy is in the process of being implemented, with a stronger focus on our customers, continued cost awareness, better service, improved product leadership and a more efficient value chain. It is a long hard road to 2020, but we are off to a good start. Despite tough competition and difficult market conditions in many areas, we are in a better position than we were a year ago to create good results," notes Mads Nipper.
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