Year 2000 one of the best years ever in the history of the Grundfos Group
With a growth in net turnover of 17%, the first year of the new millennium was one of the best ever in the history of the Grundfos Group. This was particularly due to increasing profit deriving from an increased turnover totalling DKK 9,522m.
The Group result before tax increased by 55% to DKK 739m before tax and after tax by 82% to DKK 529m. In short, the year of 2000 was a really good year for Grundfos.
With a total growth of 17% the Group reached the goal of two-digit growth rates. The growth comprises 11% of organical growth, 1% from acquired companies (the pump division of Finnish Sarlin Group), and 5% from the profitable development of exchange rates.
The strong growth in 2000 reflects the fact that Grundfos gained market shares in important product fields.
At the end of the year the number of employees had increased from 9,591 (1999) to 10,773.
For 2001 Group Management expect a lower growth rate in world economy. However, Grundfos maintains its goal of two-digit growth rates due to a number of very promising product introductions as well as more aggressive marketing activities based on the Group's new branding strategy.
Based on the positive expectations the Grundfos Group is including a total of DKK 950m for investments in the budget of 2001, which is the largest amount for investments so far. Included in the investments are the extension of production capacity and sales offices abroad, as well as the Poul Due Jensen Academy, e-business, and branding.
In environmental matters the Grundfos Group reached a number of important results in 2000. In Denmark, for instance, the amount of chemical waste has been halved since 1997 whereas water consumption has been reduced by 34% since 1995/96.
The total environmental results prove that the Grundfos Group is reaching the objects of responsibility, sustainability, and reliability.
Grundfos A/S, the Group's production company in Denmark, in September received the first working environment certificate according to the Danish OHSAS 18001 standard.
With an annual production of 8 million pump units, Grundfos is one of the world's leading pump manufacturers, covering approximately 50 per cent of the world market for these pumps. In addidtion to pumps, Grundfos manufactures electric motors for the pumps and has a considerable production of electric motors for separate merchandising. Furthermore, Grundfos develops and sells state-of -the-art electronics for control pumps and pumps system.
The Grundfos Group is represented by 55 companies in 38 countries. In addition, Grundfos products are merchandised by distributors in a large number of countries.
Grundfos was established in 1945 by the late Poul Due Jensen. The Poul Due Jensen Foundation was established as a self-governing institution in 1975. Today, the foundation owns about 85 per cent and the founder's family the remaining 15 per cent of shares in Grundfos Holding AG. The aim of the foundation is to consolidate and expand the economic basis of the Grundfos Group. The capital and the profits of the foundation are to be utilised solely for the aim of the foundation, that is the profits are to be re-invested in the Grundfos companies. Grundfos Holding AG is the majority shareholder in all Grundfos companies.