6.3.2024 09:00:00 CET | Danfoss A/S
I 2023 investerede Danfoss massivt i at udbygge porteføljen af konkurrencedygtige og innovative løsninger. På trods af afmatningen i den globale økonomi øgede Danfoss driftsresultatet (EBITA) med 10% og cash flowet med 49%. Danfoss fortsatte i 2023 med at afkoble væksten fra egne CO2-udledninger, da scope 1 og 2-udledningerne blev reduceret med 18% (før køb og salg af virksomheder) samtidig med en organisk salgsvækst på 2%.
Omsætningen i 2023 steg med 7% i lokal valuta og 4% rapporteret, til EUR 10,7 milliarder.
Driftsresultatet (EBITA) steg med 10% og endte på EUR 1.345 millioner med en margin på 12,6%, en stigning fra 11,9%. Driftsresultat (EBITA) ekskl. integrationsomkostninger og øvrige driftsindtægter og -udgifter var 13,7%.
Cash flowet efter finansielle poster og skat endte i et rekordhøjt niveau på EUR 692 millioner, hvilket er en stigning på 49%.
Positiv salgsvækst i de nordamerikanske og europæiske markeder. Asien oplevede negativ vækst, først og fremmest pga. den økonomiske afmatning i Kina. Indien leverede fortsat høj vækst.
Investeringer i innovation steg med 7%, og endte på EUR 487 millioner, hvilket er et nyt rekordniveau. Investeringer i kapacitet og digitalisering steg med 12%, og endte på EUR 596 millioner, hvilket også er et rekordhøjt niveau.
Danfoss har en målsætning om at blive CO2-neutral i driften (scope 1 og 2) inden 2030. Der er allerede indgået aftaler, som dækker 30% af denne målsætning. Der er samtidig en ambition om at reducere scope 3-udledningerne med 15% i 2030 sammenlignet med 2019. Alle segmenter har udarbejdet planer for at kunne opnå dette mål.
Forventningerne til omsætningen i 2024 er på EUR 10,0-11,5 milliarder og EBITA-marginen på 11,8-13,3%.
Resultatet for 2023 viser, at Danfoss fortsætter den positive udvikling med markante investeringer i den grønne vækststrategi, Core & Clear 2025. Trods modvind på markederne i andet halvår leverede Danfoss et resultat i overensstemmelse med guidance.
Salget steg med 7% i lokal valuta i forhold til året før, med en EBITA-margin på 12,6%. Samtidig endte cash flowet efter finansielle poster og skat på rekordhøje EUR 692 millioner, hvilket er en stigning på 49% fra 2022. EBITA steg med 10% til EUR 1.345 millioner sammenlignet med 2022.
“Fremtidens energisystemer er elektriske. Energieffektivitet i maskiner, infrastruktur og industrien generelt er altafgørende for at kunne sikre en konkurrencedygtig, sikker og dekarboniseret fremtid. I 2023 investerede vi fortsat massivt i at udbygge porteføljen af konkurrencedygtige og innovative løsninger. Det gælder både i vores kerneforretning og i udvalgte højvækstsegmenter, som f.eks. datacentre, elektrificering af varmesystemer, elbiler, entreprenør- og landbrugsmaskiner såvel som skibe og hydrogenproduktion,” siger Kim Fausing, koncernchef i Danfoss.
Udover fokus på markante investeringer i virksomhedens kerneforretning og nye højvækstsegmenter var der fokus på at investere i en yderligere regionaliseret forsyningskæde og udvidelse af kapaciteten.
Integrationen af de seneste års opkøb fortsatte planmæssigt i 2023. Med købet af Eatons hydraulikforretning i 2021 har vi skabt en førende position inden for mobil og industriel hydraulik. Målet med etableringen af Semikron Danfoss i 2022 er ligeledes at skabe en førende position inden for power semiconductor-moduler. Gennem opkøbet af BOCK® Compressors i 2023 tilbyder Danfoss nu en af industriens mest omfattende porteføljer inden for kompressorer til køleindustrien.
“I andet halvår af 2023 blev markederne påvirket af høje renter og inflation. De mere udfordrende markedsvilkår er fortsat ind i 2024. På trods af dette er vi fortsat fokuserede på at implementere vores grønne vækststrategi og levere værdiskabende løsninger til vores kunder og partnere rundt om i verden,” siger Kim Fausing, koncernchef i Danfoss.
Danfoss har en målsætning om at blive CO2-neutral i egen drift (scope 1 og 2) inden 2030. Der er allerede indgået aftaler, som sikrer en 30% reduktion af virksomhedens egne CO2-udledninger. Disse aftaler omfatter bl.a. to elkøbsaftaler (power purchase agreements) i Kina og Nordamerika, som træder i kraft fra henholdsvis 2024 og 2025. I 2023 fortsatte vi med at reducere vores scope 1 og 2-udledninger. Vi reducerede egne udledninger med 18% (før køb og salg af virksomheder), imens den organiske vækst var 2%.
“Jeg er stolt over, hvordan vores globale teams fortsætter med at implementere vores grønne vækststrategi, og samtidig formår at afkoble den organiske vækst fra vores egne CO2-udledninger,” siger Kim Fausing.
Finansielle forventninger til 2024
Danfoss har fortsat en ambition om at udvide eller fastholde sine markedsandele. Omsætningen forventes at ligge i intervallet EUR 10,0-11,5 milliarder for hele året. Danfoss forventer en EBITA-margin mellem 11,8-13,3% efter omkostninger til integration af købte virksomheder såvel som investeringer i udvikling af nye produkter og løsninger. Den forventede vækst og lønsomhed afhænger af udviklingen i de globale forsyningskæders stabilitet, geopolitiske faktorer, inflation samt de generelle globale vækstrater.
Hoved- og nøgletal for 2023
Omsætningen steg 7% i lokal valuta og 4% rapporteret til EUR 10,7 milliarder (2022: 10,3 mia).
Scope 1 og 2-udledninger blev reduceret med 18% justeret for opkøbene af Semikron og BOCK ® Compressors.
Investeringer i innovation (R&D) steg 7% til EUR 487 millioner (2022: 457 mio.), hvilket svarer til 4,6% af salget (2022: 4,5%).
Investeringer (CapEx) ekskl. køb og salg af virksomheder steg 12% til EUR 596 millioner (2022: 531 mio.).
Driftsresultatet (EBITA) steg 10% til EUR 1.345 millioner (2022: 1.224 mio.) med en EBITA-margin på 12,6% (2022: 11,9%).
Nettoresultatet steg 20% til EUR 819 millioner (2022: 683 mio.).
Cash flowet (efter finansielle poster og skat) var EUR 692 millioner (2022: 465 mio.).
Antallet af arbejdsulykker med fravær (LTIF: Lost Time Injury Frequency) endte på et rekordlavt niveau på 1,2 pr. million arbejdstimer (2022: 1,6).
42.054 ansatte (2022: 41.928).
Læs mere om de finansielle resultater for 2023 her.
For yderligere information kontakt:
Mikkel Ballegaard Pedersen, pressechef
+45 26 10 95 19
Mikkel.ballegaard@danfoss.com
Om Danfoss A/S
About Danfoss A/S:
Danfoss engineers solutions that increase machine productivity, reduce emissions, lower energy consumption, and enable electrification. Our solutions are used in such areas as refrigeration, air conditioning, heating, power conversion, motor control, industrial machinery, automotive, marine, and off- and on-highway equipment. We also provide solutions for renewable energy, such as solar and wind power, as well as district-energy infrastructure for cities. Our innovative engineering dates back to 1933. Danfoss is family- and foundation-owned, employing more than 42,000 people, serving customers in more than 100 countries through a global footprint of 100 factories.
www.danfoss.com
6.3.2024 09:00:00 CET | Danfoss A/S
In 2023, Danfoss continued to make bold investments in expanding the offering of competitive and innovative solutions. Despite a slower growth environment in 2023, Danfoss reported a 10% increase in earnings (EBITA) and a 49% increase in cash flow. In 2023, scope 1 and 2 emissions (before acquisitions) decreased by 18%, decoupled from organic sales growth of 2%.
Sales in 2023 up 7% in local currency and 4% reported to EUR 10.7 billion.
Operating profits (EBITA) up 10% to EUR 1,345 million, with a margin of 12.6%, up from 11.9%. EBITA excluding integration cost and other operating income and expenses, reached 13.7%.
Record level of free operating cash flow after financial items and tax of EUR 692 million, up 49%.
Positive growth in North America and Europe. Asia Pacific sales growth was negative, mainly driven by the economic slowdown in China. India continued to deliver a strong growth performance.
Investments in innovation up 7% at record level EUR 487 million, and investments in capacity and digitalization up 12% at a record high of EUR 596 million.
Plans in place to decarbonize our own operations (scope 1 and 2) by 2030. We already now have agreements in place, to deliver 30% of our 2030 decarbonization target. All segments have roadmaps in place to deliver on their scope 3 emission targets to reduce our carbon footprint by 15% from 2019 to 2030.
Outlook 2024 sales in the range of EUR 10.0-11.5 billion and EBITA margin in the range of 11.8-13.3%.
With our 2023 results, the positive development of Danfoss continued with bold investments in our green growth strategy, Core & Clear 2025. Despite market headwinds in the second half of the year, Danfoss reported financial results within the range of guidance.
Sales grew 7% in local currency compared to 2022, with the EBITA margin reaching 12.6% in 2023. This is combined with a record-level free operating cash flow after financial items and tax of EUR 692 million, an increase of 49% compared to 2022. EBITA increased 10% to EUR 1,345 million compared to 2022.
“We are entering a new era where the future energy system is electric, and improving energy efficiency in machines, infrastructure, and industry is critical to delivering an affordable, secure, and decarbonized future. In 2023, we continued with bold investments in expanding our offering of competitive and innovative solutions for our core business and high-growth opportunities like data centers, the electrification of heating systems, EVs, on- and off-highway vehicles, as well as marine vessels, and hydrogen production,” says Kim Fausing, President & CEO of Danfoss.
Besides the significant investments in our core business and new high-growth opportunities, we continued to invest in building a more resilient supply chain by further regionalization and adding new capacity.
In 2023, the integration of our recent acquisitions continued to be on track.
With the acquisition of Eaton’s hydraulics business in 2021, we built a leading position within mobile and industrial hydraulics. We are targeting a leading position in power semiconductor modules and assemblies with Semikron Danfoss, established in 2022. With the acquisition of BOCK® Compressors in 2023, Danfoss now offers one of the most comprehensive compressor portfolios in the cooling industry.
“During the second half of 2023, high inflation and interest rates impacted the market. The more challenging business environment has continued into 2024, but we remain focused on implementing our green growth strategy and delivering strong value to our customers and partners around the world,” says Kim Fausing, President & CEO of Danfoss.
Danfoss has a clear plan to decarbonize operations by 2030, and we already have agreements in place that ensure a 30% reduction in emissions. These agreements include two long-term power purchase agreements in China and North America, effective from 2024 and 2025, respectively. In 2023, we continued to decarbonize our own operations. Scope 1 and 2 emissions decreased by 18% (before acquisitions), decoupled from organic sales growth of 2%.
“I am excited to see how our global teams continued to implement our green growth strategy and at the same time decouple our organic growth from our own emissions,” says Kim Fausing.
Financial outlook 2024
Danfoss has a continued ambition to expand or maintain market share. Sales are expected to be in the range of EUR 10.0-11.5 billion for the full year. The EBITA margin is expected to be in the range of 11.8-13.3%, following the continued integration of already-acquired businesses as well as investments in the development of new products and solutions. The expected growth and profitability performance is dependent on the development of global supply chain stability, the geopolitical environment, and inflation, as well as general global growth rates.
Key figures for 2023
Sales in 2023 up 7% in local currency and 4% reported to EUR 10.7bn (2022: 10.3bn).
Scope 1 and 2 emissions decreased 18%, adjusted for the acquisition of Semikron and BOCK® Compressors.
Investments in innovation (R&D) increased 7% to EUR 487m (2022: 457m), corresponding to 4.6% of sales (2022: 4.5%).
Investments (CapEx) excluding M&A increased 12% to EUR 596 million (2022: 531m).
Operating profit (EBITA) increased 10% to EUR 1,345 million (2022: 1,224m), leading to an EBITA margin of 12.6% (2022: 11.9%).
Net profit increased 20% to EUR 819 million (2022: 683m).
Free operating cash flow (after financial items and tax) amounted to EUR 692 million (2022: 465m).
Lost Time Injury Frequency (LTIF) at record low 1.2 (2022: 1.6).
42,054 employees (2022: 41,928).
Read more about the financial results for 2023 here.
For further information please contact:
Mikkel Ballegaard Pedersen, Public Relations Manager
+45 26 10 95 19
Mikkel.ballegaard@danfoss.com
About Danfoss A/S
About Danfoss A/S:
Danfoss engineers solutions that increase machine productivity, reduce emissions, lower energy consumption, and enable electrification. Our solutions are used in such areas as refrigeration, air conditioning, heating, power conversion, motor control, industrial machinery, automotive, marine, and off- and on-highway equipment. We also provide solutions for renewable energy, such as solar and wind power, as well as district-energy infrastructure for cities. Our innovative engineering dates back to 1933. Danfoss is family- and foundation-owned, employing more than 42,000 people, serving customers in more than 100 countries through a global footprint of 100 factories.
www.danfoss.com
