The net turnover reached 24.7bn DKK whereas earnings before interest and tax (EBIT) hit 2.2bn DKK. A strong second half of the year led to full-year growth of 0.5% in local currencies and net of divestments. EBIT increased approx. 200m DKK over last year, and – when adjusting for non-performance related items in 2015 and 2016 – performance EBIT increased 25% compared to 2015.
“Going into 2016, one of our top priorities was to continue the financial turnaround. With 25% increase in underlying EBIT, we are satisfied with the results we have achieved”, says Group President and CEO Mads Nipper and continues: “It is estimated that the global pump market served by Grundfos stayed flat in 2016. Our modest full-year sales growth therefore means that we have bolstered our position as the globally leading pump solutions provider. After a challenging 1st half of 2016, we are particularly happy that sales regained momentum in the 2nd half of 2016.”