China saw the highest growth in turnover at 12%, Eastern European countries achieved 5%, while the Western Europe market stagnated.
 
“At best, the pump market is stagnating, and when seen in that light, our modest growth is very reasonable. The first half-year is always weaker than the second half-year in Grundfos, and it is our hope that the figures for growth, turnover and earnings will develop positively for the entire year. So far, market developments have not been favourable to us. Some markets do not perform as we had planned. The half-year result is only just satisfactory,” said Grundfos group president and CEO Carsten Bjerg.
 
Grundfos management has a more positive outlook for the second half of the year and is still expecting 2013 to become another good year for the pump company.
 
“Our global sales organisation is making a great effort by being close to the customers. At the same time, we continuously monitor our level of cost, adapt the business and keep a watch on expenses. Everything is under control, and we expect the 2013 result for the year to show satisfactory growth for the Group,” added Bjerg.