Grundfos Gains Significant Market Share by Growing Sales Organically by 5.3% With a turnover of DKK 25.6bn, 2017 was the strongest year ever in Grundfos’ history. Earnings before interest and tax (EBIT) amounted to DKK 2.346bn (9.2% of net turnover). Furthermore, we are collaborating closely with our customers to understand how we can best create value through digital solutions that further strengthen our core business,” explains Mads Nipper. “We are very satisfied with the result. We have achieved the highest turnover in company history, our sales growth far exceeded the market trend, and we are well on our way to our 2020 ambition of an EBIT ratio of 10% or higher.” says Group President Mads Nipper. Growth was generally strong across the world, but China in particular contributed very high growth rates. We expanded with more sales offices and succeeded in offering solutions to support the country’s plans to reduce its energy consumption significantly. “During the year, we have made considerable investments in initiatives aimed at strengthening our competitiveness. We have launched new products and solutions. By investing heavily in our global service business, we have strengthened our ability to offer innovative and high-quality services to our customers. Our ambition is to offer the best digital customer experience in the market. This requires considerable investments in a broad range of digital tools and solutions. We witnessed particularly solid growth within European markets, including the UK, Spain, France and several Eastern European countries, and the Russian market recovered after several years of decline. Despite challenging market conditions, growth was also delivered in the USA. In South America, we have been able to gain market share despite difficulties in the Brazilian market. Sales also increased in countries such as Australia, Japan, India and Korea, where Grundfos is a large-scale supplier to the machine tool industry. Grundfos has always strived for a customer-centric approach and firmly believes that close relations inspire better solutions and services. We are extremely grateful that we enjoy world-class customer loyalty but are aware we must continue to work to maintain and earn this loyalty. All these efforts will be directed at another strong year with higher results for Grundfos.
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