Grundfos strengthens its market position, but profitability must be improved - Seite 3

In January 2015, the Board of Directors approved a new 2020 strategy for the Group. It is to secure clear and shared ambitions, reduced organizational complexity, and to prioritise the business areas and markets and map out the most essential strategic initiatives in strengthening competitiveness towards 2020.

"The foundation of the strategy is our existing purpose and values, and it confirms that Grundfos continues to be characterised by strong innovation, ground-breaking products and continuing emphasis on sustainability. It is to secure stronger financial results with an ambition to increase the average annual sales with 6 per cent and a significantly higher profitability in combination with a continued high customer loyalty and employee satisfaction", Mads Nipper tells and continues;

"We have also identified a number of strategic focus areas: We need to maintain a global leadership in selected product segments through distinct prioritisation, we need to strengthen our end-to-end supply chain to provide us with competitive advantages, we need to develop a strong business in delivering services, we need to secure and maintain a competitive cost base, and we need to strengthen our ability to collaborate across functions and geographies through a culture that is customer-focused, cost-conscious and responsible. Altogether some great ambitions and challenges, but I am convinced that we will be successful", Grundfos' Group President concludes.

The Group's goals and expectations for 2015 are a moderate growth in sales, but first and foremost an improvement in profitability.
   
Further information:
Kim Nøhr Skibsted
Group Vice President, Group Communications
M: [phone]

 

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Source: Grundfos via Globenewswire

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