This compares with Grundfos turnover of DKK17.1 billion and profit before tax of DKK0.9 billion in 2009.

“This is a good result. Even better than we hoped,” said Grundfos Group president Carsten Bjerg. “The fact that, in a difficult and challenging time, we managed to expand the technological and commercial lead in the market and, at the same time, managed to limit costs, is a strong example of management’s and staff’s huge performance and co-operation.”