Today’s news / Grundfos achieves sales growth in tough market

Grundfos achieves sales growth in tough market

In a challenging market, Danish pump company Grundfos has managed to increase its revenue by 4.2% in 2023, with a total turnover of €4.6 billion. The firm achieved its highest-ever profit with €459 million. CEO Poul Due Jensen reports growth in key markets such as Germany, Britain, and a double-digit rise in the USA, despite a global downturn in demand in the second half of the year. Furthermore, Grundfos reduced its carbon emissions by 9% and water consumption by 7% over the past year. The second half of 2023 saw slower sales compared to the same period the previous year. Founded in 1945, Grundfos employs nearly 20,000 people and specializes in manufacturing a variety of pumps and pumping systems. The Poul Due Jensen Foundation owns 87.6% of Grundfos shares, while descendants of the founder and employees hold the remainder.