Chennai
According to the financials presented by
Danfoss in the first half of 2021, the sales of the company have grown by 18%
and have reached EUR 3.3 billion.
Despite the
COVID-19 pandemic in some parts of the world, the company has seen growth in
all regions and has made a significant investment in R&D amounting to 4.7%
of sales. Also, the company has shown a 45% increase in operating profits. The
net profit of the company was up by 74%, amounting to EUR 286 million.
According to Kim
Fausing, President and CEO – Danfoss, the company is proud of its achievement
in the first half of the year. The profitability and cash flow of the company
have been commendable. The company is also proud that it is taking lead in the
transformation towards a carbon-neutral future. This green transition has been
a result of unmatched innovation, R&D capabilities, ready-to-use
energy-efficient, low emission, and electrification solutions. He also said
that the company is excited to close the Eaton Hydraulics acquisition and also
welcome 10,000 new colleagues.
The company has
shown an extremely strong sales growth in H1 2021 because of the increasing
demand for its products and service. This momentum is also pushed due to the
factors like increasing channels, robust recovery in Tier II & III cities,
localization initiatives, innovative applications, and Expanding sales
footprint. It is expected that Danfoss India is going to cross Rs 20 billion
turnover by the end of this year.
According to
Ravichandran Purushothaman, President, Danfoss India, India has a crucial role
in the growth of Danfoss and this is why the company keeps on investing in
India. The aim is to establish India as one of the top 5 markets for Danfoss
globally.
Source – Press release of “Danfoss”
Image Source: Press release of “Danfoss”