Global leader and trendsetter Niels Due Jensen Chairman of the Board of The Poul Due Jensen Foundation Carsten Bjerg Group President and CEO Lars Kolind Group Chairman The Poul Due Jensen Foundation, which is the principal shareholder of the Grundfos Group, is pleased to note that with steady sales and manufacturing efforts, the company has achieved satisfactory growth figures, an ongoing focus on research and technology is translated into new and ground-breaking products, and finally, the company has revitalised its values in close collaboration with thousands of employees all over the world. Like many other industrial companies, Grundfos must be flexible and ready to embrace change in a world market where events cannot be predicted. The Poul Due Jensen Foundation is a commercial foundation, and its main purpose is to ensure a healthy development within Grundfos. The charter of the Foundation clearly states that it is to ensure and expand the financial platform for the continued existence and development of the Grundfos Group on a healthy commercial and economic basis. The 2011 result fully meets these intentions. The Poul Due Jensen Foundation is satisfied that the management and employees of the company have managed to achieve very good results despite the general slowdown in the world economy. The company knows how to invest in new, innovative technology in its own production facilities and in the actual product development, and this gives Grundfos a unique position as the leader within its field. In addition, we are happy to note that Grundfos is able to maintain its level of ambition in relation to environmental objectives and perseveres in its persistent effort to make the world even more sustainable. Grundfos’ good result and strong position shows that it is possible to combine sustainable thinking and sound business. We would like to thank all managers and employees of all Grundfos companies for the great efforts you have made and commitment you have demonstrated throughout the year. Also, we would like to express our appreciation to customers and business partners. In spite of the European debt crisis and turbulent markets we continue to create satisfactory and noticeable results for ourselves and our customers. In 2011, we sold more pumps than ever before in Grundfos’ history. This means that we are now helping even more people meet their very basic need for water and comfort, and together with our customers we contribute to make the world more sustainable. This is basically what we are working to achieve every day and this is what was put into words in 2011 in a newly formulated objective. What we can do for the world is our most important mission, and we are by no means done solving it. “Grundfos is a global leader within advanced pump solutions and a trendsetter within water technology. We contribute to global sustainability through groundbreaking technologies, which improve the quality of life for people and take care of the planet.” Turbulence has become an everyday occurrence Turbulence and change have become part of our everyday lives. At present, Europe in particular is characterised by a debt crisis that affects consumer confidence and companies’ wishes and ability to make investments. This leads to stagnation and no growth. Nevertheless, Grundfos continues to create good results because of our ongoing efforts in new markets and products. These efforts require a strong financial position, independence and flexibility. While Europe is hit by crisis, other parts of the world are characterised by growth and new opportunities. Now, at the beginning of 2012, the uncertainty in the world around us may never have been bigger. Economies around the world are faced with very big challenges, and Grundfos too will be affected by the way in which these challenges are handled by our politicians. And they are by no means faced with an easy task. We predict lower growth figures in the European markets for quite a few years yet, and we will be faced with the challenge of creating growth ourselves without the help of a growing market. New thinking and great efforts will be required in order to meet new objectives and implement new solutions. This journey will be intensified during 2012. At the 4 |
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