Daikin Europe N.V.’s strategy of investing in new technology and emerging markets has continued to deliver growth in 2013-14.
Daikin Europe N.V.’s consolidated turnover was €1902 million for the financial year 2013 (1 April 2013 – 31 March 2014), up 4% on the previous year, with profit growing by 17%, compared with FY2012.
Growth was driven in large part by emerging markets, particularly Turkey, which saw turnover rise by 17%. Increased activity in the hotel sector led to 50% growth in sales of the company’s VRV commercial climate control system. The positive result was also due to Daikin’s entry into the “volume zone” air conditioning market, with launch of a new entry level domestic air conditioner range.
The rest of Europe saw moderate growth as signs of a recovery started to emerge and this is expected to continue, as demonstrated by strong sales across the region in the final quarter of FY2013. Alongside Turkey, Daikin Central Europe turnover grew by 10%, while Sweden saw growth of 23%, mainly due to the high take up of the new Daikin Altherma ground source heat pump.
Other products launched in FY2013 include the Daikin Altherma hybrid heat pump; the VRV IV heat recovery system and the high-end Daikin Emura II domestic air conditioner, which won the world-renowned 2014 red dot award for product design in the air conditioning category.
Daikin Europe N.V is aiming to deliver sales of over €2bn in FY2014, as economic conditions continue to improve. With a number of new products having come to market in the last 12 months, suitable for a wide range of domestic, commercial and industrial applications and customer budgets, Daikin Europe N.V. is poised to deliver strong results over the coming year.