GRUNDFOS DELIVERS RECORD TURNOVER It has been another strong year for Grundfos, where we through organic growth have gained market share in almost all markets globally. We have con- tinued to strengthen our strategic initiatives within digitalization, the roll-out of our global service business, and other key priorities. We are satisfied with our ability to drive con- tinued growth, our strategic traction and our impact on addressing the world’s climate and water challenges. Despite growth in EBIT, however, our profita- bility was below our expectations. This is a result of a push for growth, increasing material prices and negative currency developments. We gain momentum from implementing our solutions and technologies within energy efficiency and sustain- able water supply. More and more markets realise that new and more efficient solutions here are needed, and as a global technology leader in these areas, we have successfully leveraged these opportunities. Mads Nipper CEO & Group President GRUNDFOS 67
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