27.03.2013 / Grundfos continues to grow
“We knew it would take hard work and focus to increase our turnover, streamline the organization and win market share during 2012. But I am happy to say that we have succeeded. Our expectations for the year have been met”, Carsten Bjerg, CEO and Group President of Grundfos, says.
Grundfos has always been committed to invest and develop new products and technology, and in the beginning of 2012 a new and high-tech generation of energy-efficient circulator pumps, ALPHA2 and MAGNA3, was presented. Besides the extremely low energy consumption the MAGNA3 offers a wireless interface, GRUNDFOS GO, which makes it possible to communicate with the pump via Smartphone or Tablet. Despite the global debt crisis Grundfos is still experiencing modest growth in the mature markets in Western Europe, including Germany, Denmark and the UK. The debt crisis in the Southern European countries such as Italy, Greece and Spain, is affecting Grundfos too, but the Group is having strong growth in Eastern Europe, especially in Russia. The North American markets are also doing very well, including USA and Mexico in particular, which is growing by 32 %. Sales in China continue to grow, and several other Asian markets are reporting double-digit growth, such as Malaysia and Thailand. Also in the Middle East Grundfos has achieved a solid growth rate of 19 %.
In 2013, the net turnover growth is expected to be in line with or slightly better than in 2012. Grundfos is also planning new investments of around 2 billion DKK, which is the highest level of investments in the history of the company. It includes continued product development and the establishment of new production facilities, including two new factories in Serbia and Hungary. A number of new products will also be presented soon.
