Nordborg, Denmark, 27 February 2018: Net sales at Danfoss for 2017 increased by more than DKK 4 billion (USD 676 million) to reach DKK 43.3 billion (USD 7.1 billion), corresponding to 12% growth in local currency, Denmark-headquartered Danfoss announced in a Press communiqué.

According to the company, the operating profit rose to DKK 5.1 billion (USD 842 million), net profit improved by 13% to DKK 3.3 billion (USD 547 million) and the cash flow continued to be strong, on level with 2016.

Kim Fausing, President and CEO, Danfoss, said: “We are very satisfied with our 2017 results. We have made significant investments in growth initiatives and digitalisation, and we acquired several key technologies that will help us retain our position as a leading technology provider.”

Fausing added that the company has seen particularly strong growth in the BRIC countries and in the United States.

He said: “We are entering 2018 with momentum across our businesses. Our products and solutions perfectly match the global trends, such as electrification, urbanisation and increased focus on energy efficiency, to fight climate change.”