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Danfoss reports 18% rise in sales in H1 2021

Aug 25, 2021
Danfoss reports 18% rise in sales in H1 2021

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"