DANFOSS ANNOUNCES 2018 FINANCIAL RESULTS
NEWS – According to the 2018 financial results that Danfoss announced, the growth of the group was above the average in markets such as North America, Europe, and China.
Danfoss, one of the leading companies in heating, cooling, motor control systems and power solutions, announced its 2018 financial results.
According to the results, the group’s sales volume reached EUR 6,098 billion and increased by 7%. The growth of the group was above the average in markets such as North America, Europe, and China.
In 2018, Danfoss achieved a total profit of € 648 million (Earnings Before Interest and tax/EBIT) and a profit margin of 10.6% (EBIT).
The group’s net profit reached EUR 463 million by increasing 18 million euros.
Kim Fausing, CEO of Danfoss said “Danfoss has been growing strongly over the last two years. With our strategic growth initiatives and increasing investments in leading technologies, we are gathering the fruits of our target-oriented activities and increasing our market share” about the financial results.
Emre Goren, Danfoss Turkey General Manager also made a statement:
As Danfoss as we have left behind 20 years in Turkey. Despite the negative conditions the country and the world faces, in 2018, we have continued our investments without slowing down. We took over all the shares of DAF Energy and added Turkey to Danfoss global production network at the beginning of 2018. As a brand that plays important role on Denmark’s energy independence in the last 85 years, we use our experience to help Turkey to move towards a future independent from foreign sources of energy.