The Danish company saw 2023 sales increase of 4.2% year-on-year which was in line with its strategic ambitions. EBIT before special items was a record €578 million compared with €529 million in 2022.
2023 highlights included double-digit growth within both the Commercial Building Services division and the newly acquired industrial water treatment business.
“We have worked hard to maintain our leadership position, grow sales, and deliver solid earnings,” said Poul Due Jensen, Group President and CEO of Grundfos. “Despite a worldwide market slowdown, where we experienced lower demand in the second half of 2023, we managed to deliver full-year growth in key markets like Germany and UK as well as double-digit growth in the US. Equally important, customer satisfaction was at an all-time high and we made strong progress towards delivering on our water and climate ambitions.”
In terms of sustainability, Grundfos managed to reduce its 2023 total CO2 emissions by 9% year-on-year, as well as cut its own water consumption by 7%. As 99% of the company’s emissions stem from installed products in use, Grundfos says great efforts have been made in terms of product innovation and sales initiatives to drive energy and water efficiency for its customers.
“We want to lead by example through actions, and I am exceedingly proud of the sustainability progress we have made in 2023, both when it comes to our own emissions and water reduction and how we have helped our customers to save energy and water as well as providing clean water access to millions of people in need,” said Due Jensen.
