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2015-09-01

Grundfos: Grundfos doubles the profitability and holds the course

The pump Group doubles the profitability and has achieved sales growth during
the first half of 2015. The results are in line with the ambitions.

The turnover hits 11.9 bio. DKK against 11.1 bio. DKK last year (six months).
The profitability has doubled to 628m DKK. With this result Grundfos is
fulfilling the ambition of turning the declining profitability curve during
the last four years.

"We have done what we planned to do. We are pleased to see that the
initiatives taken during the last year are so far showing solid and positive
results. But we are of course still on the early stages of the journey, and
the target is still to stick to the plans for a higher profit rate and a
sustainable growth", says Group President Mads Nipper.

It is especially USA that are still delivering a solid sales growth of 15
percent in local currency, whereas Europe is stable with modest growth rates
and increasing market shares. In Russia the sales are decreasing as a
consequence of the difficult market conditions, whereas China is more or less
unchanged caused by reduced investment levels and uncertainly in the Chinese
economy. Other markets, such as South America, the Middle East and Japan are
all contributing positively to the growth of the Group.

"We are meeting intensified competition all over, but it is our evaluation
that we are still gaining market shares in most markets. The new Group
Strategy is being implemented with intensified customer focus, cost
consciousness, better service offerings, strengthened product leadership and
more efficient value chains. We are still having a long haul in front of us
towards 2020, but we have started out well. And despite tough competition and
difficult market conditions in several places, our foundation for creating
improved results is better than one year ago", says the Group President.

A new member will today extend the Group Management team as French Stéphane
Simonetta is today taking up the position as Group EVP for global production
and logistics. He comes from Honeywell Transportation Systems in Switzerland.

For further information:
Group VP, Communications Kim Nøhr Skibsted, phone +45 87506900 or +45
30525020.

Nipper_halfyear
http://hugin.info/152821/R/1948969/708126.jpg

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Grundfos via Globenewswire

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