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GRUNDFOS HOLDING A/S

GRUNDFOS HOLDING A/S is a Danish industrial group focused on pumps, pumping systems, and water treatment solutions for buildings, industry, utilities, and residential applications. Its business spans product development, manufacturing, digital controls, and related services through a multi-division structure that serves customers globally.

Kysy yhtiöstä
Liikevaihto34,7mrd DKK
+4,5 %v/v
Liikevoitto (EBIT)3 666milj. DKK
−9,8 %v/v
EBIT-marginaali10,6%
−1,7 %-yks.v/v
Nettotulos2 849milj. DKK
−17,0 %v/v
Vapaa kassavirta3 095milj. DKK
−3,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2021–2025

010203040mrd DKK2021: 28,7 mrd DKK2021: EBIT 3,3 mrd DKK20212022: 33,3 mrd DKK2022: EBIT 3,1 mrd DKK20222023: 34,4 mrd DKK2023: EBIT 4,3 mrd DKK20232024: 33,2 mrd DKK2024: EBIT 4,1 mrd DKK20242025: 34,7 mrd DKK2025: EBIT 3,7 mrd DKK202534,73,7
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: GRUNDFOS HOLDING A/S

Liiketoiminta

Osuus liikevaihdosta
Building Services Pumps30 %

Pumps and controls for heating, HVAC, domestic hot water, boosting, and wastewater in buildings.

Industrial Pumps and Water Treatment30 %

Pumping, treatment, reuse, and process solutions for industrial utilities and production systems.

Water Utility Solutions20 %

Pumping systems for groundwater intake, irrigation, clean water distribution, and wastewater transport.

Domestic Building Services15 %

Smaller pumps and residential solutions sold to OEMs, distributors, installers, and homeowners.

Digital Controls and Services5 %

Apps, controllers, commissioning tools, and optimization services that improve pump performance.

Asiakkaat

Grundfos sells to a mix of commercial, industrial, utility, and residential customers that need reliable water movement, treatment, or reuse. The customer base includes OEMs, distributors, installers, building operators, industrial plants, municipal utilities, and homeowners, with many purchases driven by energy efficiency, system reliability, and water-saving performance.

Commercial buildings

Buys pumping and optimization solutions for HVAC, cooling, hot water, and wastewater in commercial properties.

Industrial customers

Buys pumps and water treatment systems for utilities, reuse, process integration, and energy optimization.

Water utilities

Buys pumping systems for groundwater intake, irrigation, clean water distribution, and wastewater transport.

Residential channel

OEMs, distributors, installers, and homeowners buy domestic pumps for heating, hot water, boosting, and wastewater.

Data center operators

Buys cooling-related pumping and water management solutions for data center infrastructure.

Strategia

The company is organizing around its Ignite’27 strategy, which emphasizes innovation, customer experience, and growth across four divisions. Strategic themes in the report include expanding water treatment, strengthening energy-efficient solutions, growing in the US, and using acquisitions to build capabilities and scale.

Expand water treatment and reuseKeskipitkä aikaväli

This broadens the portfolio beyond pumps into higher-value water solutions and strengthens industrial relevance.

Increase energy-efficient product mixLyhyt aikaväli

Efficiency supports customer adoption, differentiates the portfolio, and aligns with water and climate goals.

Grow in the USLyhyt aikaväli

The US is a large pump market and a key source of scale for commercial, industrial, and utility demand.

Build digital control and commissioning toolsKeskipitkä aikaväli

Digital tools improve ease of installation, monitoring, and lifecycle performance, supporting customer stickiness.

Maantiede

Grundfos is a global business with manufacturing and sales across Europe, North America, and Asia, and its reported narrative highlights especially the US, Germany, the UK, Southern Europe, and China. The company also references production expansion in Brookshire, Texas and a growing role in water treatment across Europe and North America, showing that geography matters both for demand exposure and industrial footprint.

Riskit

Grundfos is exposed to cyclical demand in construction, industrial investment, and municipal budgets, which can affect volume and mix across divisions. The report also points to geopolitical uncertainty, trade barriers, and weakness in China as external risks, while acquisition integration and technology shifts are important execution risks in a highly engineered product market.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Cyclical construction demand1Geopolitical and trade barriers2China market weakness3Acquisition integration4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Cyclical construction demandVaikutus: KorkeaTodennäköisyys: Korkea

    Residential and commercial building applications depend on construction activity and renovation cycles.

    Kohdistuu: DBS and CBS divisions

  2. Geopolitical and trade barriersVaikutus: KorkeaTodennäköisyys: Korkea

    The group operates globally and reports a fragile business environment with trade and geopolitical uncertainty.

    Kohdistuu: Global supply chain and sales footprint

  3. China market weaknessVaikutus: KeskitasoTodennäköisyys: Korkea

    The report cites depressed construction and fierce competition in China, which can limit regional growth.

    Kohdistuu: Asia market exposure

  4. Acquisition integrationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    New acquisitions in water treatment require integration of systems, customers, and operations.

    Kohdistuu: Newterra and prior acquisitions

Kysy Clarifolta: GRUNDFOS HOLDING A/S

Kirjanpito

Harkinnanvaraiset erät
Acquisition accounting

The group has added water-treatment businesses, requiring purchase price allocation and ongoing goodwill monitoring.

Vaikutus: Affects intangible assets, goodwill, and future impairment risk

Goodwill and intangible impairment

Engineered water and treatment businesses depend on demand durability and synergies from acquisitions.

Vaikutus: Can materially change reported earnings if assumptions weaken

Revenue recognition

The company sells hardware, digital controls, and services that may have different recognition patterns.

Vaikutus: Affects timing of revenue and margin recognition

Foreign currency translation

Sales and operations span many countries, so exchange rates can move reported results and comparability.

Vaikutus: Affects reported revenue, earnings, and balance sheet values

Päivitetty: 24.10.2026