COPENHAGEN, Aug. 23 (Xinhua) -- Danish industrial giant Danfoss said Wednesday its sales for the first half of the year had risen 13 percent compared with the same period last year.
Net sales for the first six months of 2017 rose to 21.8 billion Danish kroner (3.46 billion U.S. dollars), or up 11 percent as measured in local currencies, Danfoss said in a statement.
Meanwhile, earnings before interest and taxes (EBIT) increased by three percent to 2.3 billion kroner from the first half of 2016.
"We have had a strong first half-year, with all of Danfoss' core businesses delivering good sales growth," said Danfoss president and chief executive officer (CEO) Kim Fausing.
"Over the past few years, we have made targeted efforts to accelerate growth by investing in innovation and high potential growth markets, and the results are paying off," Fausing added.
All business segments contributed to the high sales growth, and especially Danfoss Power Solutions and the mobile hydraulics business performed strongly, according to the statement.
Danfoss had a positive development in several markets, particularly countries like Brazil, Russia, India, and China, which showed significant growth, driven by an increasing demand for climate-friendly and energy-efficient technologies.
"Our growth and earnings power paves the way for investing heavily in growth, digitalization, and new technologies. This way, we can continue to strengthen Danfoss and our market position," Fausing said. (1 U.S. dollar = 6.30 Danish kroner) Enditem