Grundfos has reported strong results for the first half of 2022 with earnings of DKK 1,689m (£196m), adjusted for a one-off cost related to the closing of business in Russia and Belarus.
Grudfos CEO Poul Due Jensen said: “I am very proud to present such strong results for our first half of 2022. It has been our number one priority to be able to continue to serve our customers and we have managed to do so whilst navigating extraordinarily difficult circumstances.
“These results are proof of the agility, dedication and hard work shown by our colleagues all over the world and I cannot thank them all enough for their resilience and devotion in these continuously challenging conditions.”
Growth in raw material prices, higher logistics costs, and significant material shortages are expected to continue, making the outlook for the remainder of the year uncertain.
“Grundfos will continue to provide solutions to the climate and water challenges the world faces. We want to play an active role in relieving the energy crisis in Europe and the rest of the world by delivering energy efficient solutions that reduce the use of electricity for heating, cooling and water management,” Poul added.