Grundfos announces record sales and earnings in 2021 results

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.

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 operations of the company, 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.

Group President & CEO of Grundfos, Poul Due Jensen, said:

“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.

“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 worlds water and climate challenges and improve the quality of life for people.”

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%