Grundfos closes 2021 with record sales, earnings

Grundfos, Bjerringbro, Denmark, set a new sales record for 2021 with a full-year net turnover of 28.7 billion Danish krone.

Grundfos’ full-year return on sales reached 11.1%, representing 3.185 million DKK in earnings before interest and tax. Adjusted for items not related to the operations of the company, Grundfos’ return on sales landed at 11.4%.

The annual customer satisfaction survey had 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,” says Poul Due Jensen, group president and CEO of Grundfos. “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.

“We will continue to do our utmost to overcome these challenges in collaboration with our customers and partners. Further, we will continue to passionately pursue our sustainability agenda and deliver on our purpose to solve the world’s water and climate challenges and improve the quality of life for people.”