Denmark's Danfoss showed strength in 2016 as the result improved by close to DKK 500 million (EUR 67 million). The result landed at DKK 2.9 billion, up from DKK 2.5 billion in 2015, according to the Danfoss annual report.
The greatest growth took place in the Heating division where sales growth increased by 13 percent up to DKK 6.3 billion. The result is impacted by Danfoss' acquisition of heat exchanger company Sondex last summer. Since then, the cash flow from the company of 1,000 employees has been included in accounting at Danfoss from Sep. 1.