Danfoss president and CEO, Kim Fausing, congratulated staff for their extraordinary efforts in 2020 despite the COVID-19 pandemic.
He said it was an important year for the company with the acquisition of Eaton Hydraulics, the launch of a new business division, Danfoss Climate Solutions, and continued investment in digitalization and electrification.
Releasing the company’s annual report for 2020, Fausing, said sales ended six per cent lower than the previous year.
“We kept our factories going globally, we serviced our customers, and strengthened our digital presence. Our teams around the globe have handled this difficult situation in a fantastic way,” he said.
Some 10,000 new employees from Eaton Hydraulics will join Danfoss this year. Danfoss already has 27,000 employees in more than 100 countries.
The first half of the year was tough but Fausing said by the fourth quarter, Danfoss was back to pre-COVID-19 sales levels in most markets.
Danfoss has embarked on an ambitious journey to become CO2 neutral by 2030, at the latest. Since 2007, Danfoss has reduced its energy intensity by 45 per cent and CO2 emissions by 36 per cent, primarily driven by energy-saving projects in the largest factories around the world.
Danfoss is also aiming to promote more female leaders in the company with a target of 30 per cent globally by 2025.