The Grundfos Group have just announced their 2016 results that saw their net turnover increase as well as an improvement in EBIT.
Group President and CEO Mads Nipper explained: “it is estimated that the global pump market that we can serve remained flat in 2016. Our modest full-year sales growth therefore means that we have bolstered our position as the globally leading pump solutions provider. After a challenging first half of 2016, we were particularly happy that sales regained momentum in the second half”.
Full year growth has been achieved in several significant markets, including the United Kingdom. However, Russia and the Greater Middle East continued to suffer from low activity levels driven by low oil prices and financial uncertainty.
Mads continued “the competition is fierce in our markets and we constantly need to focus on offering the most innovative solutions and the best delivery service to our customers, while at the same time lowering our cost base”, He added “During 2016, we accelerated investments in our strategic focus areas like our service business and development of digitally enabled offerings. We will continue our transformation in these areas the coming years – with the aim of always adding further value to our customers”.