"You have to kiss a lot of frogs before finding a prince"
Danfoss is running around the swamp kissing frogs in its effort to find the perfect acquisition. But whereas the target used to be buying market shares, the focus has now shifted to technology and growth platforms, according to the group's CEO.
Denmark's Danfoss just exited 2016 with its best financial report ever. Part of the explanation lies in the acquisitions made by the company during 2016, and the group CEO is now puckering up to find the next perfect candidate.
The multinational commodity trader navigated through a turbulent market in fiscal 2022, which ended in September, but nonetheless closed the year with a record result. Challenging conditions will carry on into 2023.
Serious dissatisfaction is emanating from European capitals regarding the Energy Charter Treaty for protecting fossil energy investments, thus prompting the EU Commission to assess its options for a collective exit.