Grundfos Annual Report 2002

Financially, 2002 was a relatively good year for Grundfos, in spite of general uncertainty regarding the world economy combined with diffi cult conditions in most of our markets. The sales growth figure reached 5 per cent while pre-tax profi ts rose by some DKK 100m to DKK 726m, corresponding to an impressive 17 per cent increase in earnings. However, we did not quite manage to meet the original 2002 budget figures for sales and profit.