Grundfos half-year sales up 13.9%

Grundfos has reported sales growth of 13.9%, revenue of DKK18.1 billion and earnings before interest and tax (EBIT) of DKK2,537 million for the first six months of 2023.

Grundfos's headquarters in Bjerringbro, Denmark.
Grundfos's headquarters in Bjerringbro, Denmark.

Half-year 2023 profit after tax was DKK1,940 million, up from DKK455 million for the same period in 2022.

“We are very satisfied with the financial results for the first six months of this year. We went into 2023 with a very strong order backlog, and with the efforts of my colleagues around the globe and improved supply chains, we have been able to deliver strong growth,” says Poul Due Jensen, Group President & CEO of Grundfos.

The positive result for the first six months is a valued foundation for more challenging times ahead, explains Due Jensen. “We see signs of a general market slowdown, and our customers are lowering their stock levels, resulting in a lower order intake. Despite this, we are determined to deliver a satisfactory full-year result.”

“There is, more than ever, a dire need for our energy efficient products and solutions across the globe, and we will for the better of our planet continue to pursue possibilities to help our customers save energy and water,” added Due Jensen.