Danfoss off to encouraging start

Net sales rose by three percent while the group’s operating profit was 996 million kroner

Danish industrial giant Danfoss has made a good start to 2014, revealing strong quarterly financial results on Wednesday.

Net sales rose by three percent to 8.3 billion kroner, while the group’s operating profit was 996 million kroner, significantly higher than the 679 million kroner garnered in the first quarter of 2013.

“The start of this year is a continuation of the strong momentum that we built during the second half of 2013,” Danfoss head, Niels B Christiansen, said in a press release.

READ MORE: Danish companies cautious, but staying in Ukraine

Expectations maintained
“At the same time, the value of our employees’ targeted efforts to improve productivity is becoming more and more evident, as is the way that the overall activities and the results are strengthening Danfoss.”

The results were particularly positively influenced by blossoming sales of the company’s energy efficiency solutions, and in the refrigeration and air-conditioning division.

Despite the encouraging results, the Danfoss leadership decided to maintain the company’s overall financial expectations for the year.