Page 12 - Climate Control News April 2020

World News
Danfoss delivers in a tough market
DANFOSS DELIVERED STRONG FINANCIAL RESULTS FOR 2019 WITH SALES INCREASING THREE PER CENT.
RELEASING ITS 2019 annual report this week, Danfoss President and CEO, Kim Fausing, said the company increased earnings despite diffi- cult market conditions.
In 2019, Danfoss sales reached EUR 6.3 billion ($A10.73 billion) with strong operating profits (EBITA), which grew 6% to EUR 771 million ($A1.31 billion) with an EBITA margin of 12.3%.
Historically, it was a record high operat- ing profit.
Danfoss said cash flow from operating activi- ties increased 17% to a very strong EUR 789 mil- lion ($A1.34 billion).
“The global mega-trends continue to trans- form the world, creating new opportunities for Danfoss,” Fausing said.
“For example, the high global focus on solv- ing climate change is creating increasing demand for technol- ogies and solutions within energy effi- ciency, sector cou-
Danfoss president and CEO,
Kim Fausing.
pling, and electrification and green energy. In this context, Danfoss’ solu- tions are more relevant than ever before.
“The centre of our strategy is long-term val- ue creation. The best way to generate value is to en- sure that our core busi- nesses maintain their leading positions globally and that we stay at the technology forefront.”
Fausing said the strat-
egy includes a high level of investment in in- novative solutions.
This was reflected in the 7% increase in R&D to EUR 272 million ($A463.5 million), equal to 4.3% of sales. To further strengthen the busi- ness segments, Danfoss acquired four compa- nies in 2019.
“These targeted-acquisitions have added new technologies to the portfolio; for example, to electrify buses, trucks, off-highway vehicles and marine vessels, and smart solutions based on artificial intelligence to optimize heating
systems in buildings and district energy net- works,” Fausing said.
“Most recently, Danfoss entered into an agreement to acquire Eaton’s hydraulics busi- ness to become a global leader within mobile and industrial hydraulics, which is one of Dan- foss’ core businesses.”
Danfoss also aims to reach a new ambitious target to become CO2 neutral by 2030 at the latest. The company has also set ambitious tar- gets to reach 25% of female leaders by 2022 and 30% by 2025.
Australia celebrates world engineering day
AUSTRALIA’S TOP TECHNOLOGY and engi- neering experts came together last month to cel- ebrate the inaugural World Engineering Day for Sustainable Development.
The Australian Academy of Technology and Engineering (ATSE) celebrated UNESCO’s World Engineering Day by bringing together expertise from industry, universities, and the public sector to build the keys to turning waste streamsintoincomestreams.
ATSE CEO, Kylie Walker, said Aus- tralia generates around 67 million tonnes of waste per year – but with the rapid evolution of technology and sustainable engineering practices – it can become a major resource.
She said the Academy of Technolo-
gy and Engineering is leading a critical and time- ly major national initiative to pave the way for the digital revolution to supercharge Australia’s new circular economy.
“With technology and systems approaches that already exist, we can create nine or 10 jobs for every 10,000 tonnes of repurposed rubbish,” Walker said.
“Imagine how we could build on this growth as we start to create products designed for multiple it- erations, create smart waste management systems, and invent
advanced recovery technology.” Waste is one of three major fo- cus areas for ATSE’s major inves- tigation and preparation for Aus-
LEFT: ATSE CEO, Kylie Walker.
FAR LEFT: All 17 colours of the UN Sustainable Development Goals are included in the logo
and represent the commitment to the UN 2030 Agenda.
tralia’s technology future, alongside health and transport.
The investigation, supported by the Australi- an Research Council, will provide a blueprint for government, business and academic investment in technology and research to support waste management planning to 2030. ✺
CLIMATECONTROLNEWS.COM.AU
12