Grundfos EBIT Up 89% in H1 2021; Posts Strongest Earnings in Company History

Grundfos has reported the highest earnings in the company’s history and the highest sales growth rate for more than a decade in its 2021 half-year (H1) results.

The company has posted an increase of 89 per cent in its Earnings before interest and tax (EBIT) to DKK 2,017m as compared to the first half of 2020 and delivered record-high profitability and cash flow in its 2021 half-year report.
 
Its sales have increased by 18.4 per cent against 2020 and 7.1 per cent as compared to 2019 (pre-COVID-19 baseline).
 
Further, the company’s net turnover stood at DKK 14.1bn in H1 2021.

Commenting on the company’s performance, Poul Due Jensen, Group President and CEO of Grundfos, said “this is an outstanding result. Grundfos is financially stronger than ever which gives us the best possible platform for executing on our ambitious strategy and fulfill our purpose of contributing to solving the world’s water and climate challenges. I am proud of our performance, and the commitment of our employees. I cannot thank them enough.”

Grundfos said that its global supply chain has been able to maintain full production and ensure deliveries to customers despite the global challenges on material shortages and freight capacity following the pandemic. This has been instrumental to support sales growth and securing the record financials.

“It is remarkable to experience the creativity and ability to find solutions that Grundfos employees are showing. Together we are navigating the uncertainties of the COVID-19 pandemic. It is thanks to their hard work and dedication that we have been able to meet our customers’ expectations,” said Poul Due Jensen.

As a global pump and water solutions company, Grundfos provide expertise in energy- and water-efficient solutions and systems for a wide range of applications, including water utility, water treatment, industries, and buildings.