Satisfactory financial performance despite the COVID-19 pandemic

02.09.2020
The pandemic has had a significant impact on markets globally in the first half of 2020. Grundfos has seen lower activity in all markets globally.

However, there are positive trends emerging in important market areas such as China, the US and a number of countries in Western Europe.

“In light of the global crisis, we are satisfied with our financial performance. We and most of our customers are impacted by COVID-19. Our main priority is the health and well-being of our employees and partners, and ensuring our ability to supply our customers,” says Mads Nipper, Group President & CEO of Grundfos.

“Our colleagues across the globe have done a fantastic job under difficult circumstances. I am very pleased to see the dedication to keep our business running and in ensuring our customers are supplied with the water solutions they need. I am particularly proud to see many cases of fast and effective supply of critical equipment to emergency hospitals and other places where our products and solutions have been essential,” continues Mads Nipper.

Persistent uncertainty in all markets influence the business outlook for the second half of 2020 and for the full-year outlook. Grundfos expects the global markets to remain negatively affected by COVID-19, and expects a full-year decline in sales compared to 2019.

“The COVID-19 pandemic and following crisis are impacting us and will continue to do so. We have managed to stay agile, disciplined and diligent in all areas of our business to navigate through these challenging times and we will continue our efforts and diligently work to ensure that our business remains sound,” says Mads Nipper.

Source: Grundfos

More articles on this topic

Michell Bearings Announces the Incorporation of Michell Bearings Inc.

19.10.2021 -

Michell Bearings has announced the incorporation of a USA business, Michell Bearings Inc. The incorporation will allow customers in North America, especially those in the USA naval industry, to collaborate with Michell Bearings in more efficient way. It will also assist Michell Bearings in providing engineering and manufacturing content on future programs from the United States of America.

Read more

Mitsubishi Electric Automation Promotes Senior Vice President of Sales and Marketing

29.09.2021 -

Mitsubishi Electric Automation, Inc. is announcing the promotion of Milton Coleman to senior vice president of sales and marketing. Coleman has nearly thirty years of experience in the automation industry, and previously held the position of vice president of sales at the company. In his new role, Coleman will focus on improving alignment between sales and marketing.

Read more

GEA Gains Further Momentum in Second Quarter

16.08.2021 -

Thanks to continued gains from the efficiency program and the general economic recovery, GEA performed excellently in the second quarter. The company once again significantly improved across relevant key performance indicators: order intake, organic revenue development, earnings margin, net liquidity and return on capital employed (ROCE).

Read more
Directly to the product selection in

PumpSelector

LATEST NEWS

JOB MARKET