Danfoss posts record high turnover in 2014
Xinhua, March 25, 2015 Adjust font size:
The revenue of Danish technology company Danfoss grew 4 percent in 2014, reaching a record high of 34.4 billion Danish kroner (5.05 billion U.S. dollars), the company announced on Wednesday.
Operating profit for the full year 2014 rose 13 percent year-on-year to 4.4 billion kroner (645.9 million U.S. dollars), Danfoss said in its annual financial statement.
The results can be attributed to the company's systematic efforts to become more competitive and flexible, Danfoss CEO Niels B. Christiansen said.
"Our well-oiled machinery enables us to increase our focus on developing and investing in the improvement of our market position," Christiansen said.
Besides the acquisition of the Finnish AC drives manufacturer Vacon, Danfoss took a number of other growth initiatives in 2014 by investing in "geographic growth pockets" with great potential in India and Turkey.
The company expects its net sales in 2015 to grow by 5 percent to 10 percent. "We have momentum and are optimistic for 2015," Christiansen said.
However, Christiansen warns continued slow growth in the global economy and continued low visibility.
Renowned for its thermostats for heat regulation, the Nordborg-based company is a global leader in research and development, production, sales and service of mechanical and electronic components for many industries. Endi