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Grundfos announces 2021 results with record sales and earnings

By Anvita Pillai, @Anvitap21,

Added 16 March 2022

In 2021, Grundfos returned to strong sales growth of 10.4%, net turnover, thereby hitting a record 28.7bn DKK and highest ever earnings (EBIT) of 3.2bn DKK

In 2021, Grundfos set a new sales record with a full-year net turnover of 28.7bn DKK. Grundfos’ full-year return on sales (EBIT/Net turnover) reached 11.1% representing Earnings before Interest and Tax (EBIT) of DKK 3,185m. Adjusted for items not related to the company's operations, Grundfos’ return on sales landed at 11.4%. The annual customer satisfaction survey showed world-class levels and was the highest score since Grundfos started conducting customer satisfaction surveys. The employee motivation and satisfaction survey continued to show strong results on par with the previous year. 

Throughout the second half of 2021, Grundfos was increasingly challenged by supply chain constraints and sharp price increases on materials, energy and logistics services which added pressure on profitability.

“Our record results give us a strong foundation to face what will be a challenging 2022. The invasion of Ukraine is, first and foremost, a tragedy for the Ukrainian people. The global repercussions are immediate and far-reaching and have led us to pause all business activities in Russia. On top of this, the inflationary pressures and supply chain constraints are aggravated, making the outlook for 2022 very uncertain,” says Group President & CEO of Grundfos, Poul Due Jensen. 

Financial highlights full-year 2021:

Net turnover of DKK 28,733m 

Sales growth in local currencies versus last year of 10.4%

Return on sales of 11.1%

 

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