Grundfos posts record results for 2021

Grundfos delivered record sales and earnings in 2021 with full year net turnover of DKK28.7 billion and earnings before interest and tax (EBIT) of DKK3185 million.

Poul Due Jensen, Grundfos CEO and group president.
Poul Due Jensen, Grundfos CEO and group president.

The Danish pump maker saw 2021 sales growth of 10.4% in local currencies, with full year return on sales reaching 11.1%. 2021’s profit after tax was DKK2590 million, up from DKK1931 million in 2020.

Throughout the second half of 2021, Grundfos faced supply chain constraints and increased prices on materials, energy and logistics services which added pressure on profitability.

Looking ahead, Grundfos Group president and CEO Poul Due Jensen said there are a lot of uncertainties surrounding 2022.

“Our record results give us a strong foundation to face what will be a challenging 2022,” said Due Jensen. “The invasion of Ukraine is first and foremost a tragedy for the Ukrainian people. The global repercussions are immediate and far reaching and have led us to pause all business activities in Russia. On top of this, the inflationary pressures and supply chain constraints are aggravated, making the outlook for 2022 very uncertain.”

Due Jensen said they will continue to do their utmost to overcome these challenges in collaboration with customers and partners.

“Further, we will continue to passionately pursue our sustainability agenda and deliver on our purpose to solve the world’s water and climate challenges and improve the quality of life for people,” said Due Jensen.