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Grundfos records $3bn in 2009 turnover

Grundfos records

Grundfos’s 2009 turnover was DK17 billion (US$3 billion) against DK19 billion in 2008. Profit was DK873 million, or 5% of turnover. In 2009, Grundfos reduced its interest-bearing negative net balance by DK2.1 billion, to DK62 million at the end of the year.

Carsten Bjerg (below), Grundfos Group president and CEO, said: “The consequences of the financial crisis will not disappear in 2010. But there are signs that the worst is drawing to a close. Growth in the coming year will not be high. However, we expect a weak growth in both turnover and profit.”

Unfortunately, said Grundfos, the crisis has resulted in a necessary staff reduction of more than 2,000 employees in 2009, of these about 600 in its Danish companies.

Grundfos said it has obtained its best results in well-established markets, especially pumps for building services in Germany, France, Italy and the UK. Also the Asian market had reasonable growth rates, while the group considers China to be its second home market. The recession hit primarily on markets in which Grundfos is relatively newly established, and in hard-hit machinery manufacturing countries such as Japan and Taiwan.

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