2022 saw a turbulent start with a war on European soil, a looming global food crisis, and continuation of the global pandemic in several locations all over the world. But, on the bright side, a record year in Grundfos, the Grundfos Foundation has decided to yet again increase its donations and allocate no less than DKK 250 million to charity in 2022.
– Over the last five years, we’ve seen our donations multiply – from DKK 15 to 200 million per year, and that is something we can especially thank the 20,000 passionate and hard-working Grundfos employees around the world for. Without their contribution, we would not be able to do so much good, and when they put in an extra effort, we as a foundation can give back even more to the global community. It is needed more than ever, says Executive Director Kim Nøhr Skibsted.
More than half of the Foundation’s donations in 2021 went to projects and initiatives outside Denmark, primarily water projects in the Global South, but local community development projects have also benefited from smaller donations from the Poul Due Jensen Community Engagement Grant which Grundfos employees all over the world can apply for on behalf of local partners.
– Without the Grundfos employees’ dedication, we would not be able to do so much good, and when they put in an extra effort, we as a foundation can give back even more to the global community. It is needed more than ever, says Executive Director Kim Nøhr Skibsted. Photo: Montgomery
Increasing donations
In 2021, the Foundation revised its strategy and included an overall ambition of global citizenship. The Foundation wants to take part in and influence the global agenda on water, climate and social issues and encourages the Grundfos Group companies in living the values of the founder through supporting local community projects. Finally, improved synergies between the Foundation’s philanthropic programme areas will increase our global engagement. Find out more in the 2021 Annual Review (PDF)
Over the years, the Fondations’ donations are growing.
Historical Grundfos Year
Despite the pandemic, shutdowns and the biggest organisational change in the company’s 76-year history, the Grundfos Group has produced solid results with strong sales growth and best earnings ever since its inception in 1944. Find Grundfos’ annual report here.
As the largest shareholder and primary owner, it has been very satisfying to follow the excellent development that also included the acquisition of the American company MECO. The Foundation is very confident that ambitions and expectations expressed in the Group’s business strategy will continue to be achieved in the years to come. Grundfos closed 2021 with a financial result of DKK 2.6 billion (compared to 1.9 billion in 2020), and 50% of the result is distributed to the shareholders.. The Foundation owns 88 % of Grundfos and receives DKK 1.121 billion as dividend after the Annual General Assembly.
Responsible investment
The Foundation complies with the UN Global Compact principles. Furthermore, the Foundation has decided to direct its investments and portfolio towards ESG (Environment-Social-Governance).
The level of risk related to the investments may not impact the Foundation’s capability to maintain an active ownership of the Grundfos Group. Find out more abbout investments in our 2021 annual review (p. 68-71).
- Find the Foundation’s accounts here.