Grundfos delivered healthy sales growth in 2023 while reducing its own water and energy footprint  as well as supporting customers in lowering their water and energy consumption.

Building on the solid performances of recent years, Grundfos realised record sales of EUR 4.6bn. This  represents a sales growth of 4.2 percent in line with strategic ambitions. EBIT before special items  also grew; to a record EUR 578m against EUR 529m in 2022. The EBIT result equals a 12.5 percent  profit margin.

Growing key markets

“We are satisfied with our financial results. We have worked hard to maintain our leadership  position, grow sales, and deliver solid earnings. Despite a worldwide market slowdown, where we  experienced lower demand in the second half of 2023, we managed to deliver full-year growth in key  markets like Germany and UK as well as double-digit growth in the US. Equally important, customer  satisfaction was at an all-time high and we made strong progress towards delivering on our water  and climate ambitions,” said Poul Due Jensen, Group President and CEO of Grundfos.

Other significant highlights from Grundfos’ 2023 include double-digit growth within both the  Commercial Building Services division and the newly acquired industrial water treatment business.

Sustainability progress

During 2023 Grundfos managed to reduce its total CO2 emissions by nine percent year-on-year, as  well as reduce its own water consumption by seven percent. Finally, as 99 percent of the company’s  emissions stem from installed products in use, great efforts have been made in terms of product  innovation and sales initiatives to drive energy and water efficiency for Grundfos customers.

“We want to lead by example through actions, and I am exceedingly proud of the sustainability  progress we have made in 2023, both when it comes to our own emissions and water reduction and  how we have helped our customers to save energy and water as well as providing clean water access  to millions of people in need,” said Poul Due Jensen, adding:

“All Grundfos colleagues have done a fantastic job enabling Grundfos to achieve all these hard earned results and live up to our promise to respect, protect and advance the flow of water, and we  are very pleased that while doing this, we achieved the highest employee satisfaction ever.”

The Group Annual Financial Statements are reported in Danish Kroner (DKK). Euro figures are  converted at a fixed DKK/EUR exchange rate of 7.45.

CBRE has been appointed by Mandarin Oriental Hotel Group as the Lead Leasing Agency to provide office leasing and marketing consulting services for the new Grade A commercial building “One Causeway Bay” at 281 Gloucester Road, Causeway Bay, which is due for completion by the second quarter of 2025.

One Causeway Bay is situated in the site of the former Excelsior Hotel in Hong Kong, in the district that exemplifies youthfulness and vibrancy.  The site, historically known as East Point, was acquired by James Matheson for Hong Kong’s first godowns even before the territory became a British colony in 1841, and so enjoys legendary local status as Hong Kong’s famed “Lot No.1”.

The redevelopment of One Causeway Bay is conveniently located within a two-minute walk from the Causeway Bay MTR Station and is seamlessly connected to the Greater Central area in just 8 to 10 minutes by subway. The project is also easily accessible by various means of public transportation that allows tenants and visitors to travel to different parts of Hong Kong with ease and flexibility.

When completed, One Causeway Bay will provide around 500,000 sq. ft. of office space across 24 floors and 55,000 sq. ft. of retail, entertainment, and dining space in the 4-level retail podium and the two rooftop levels. The building is designed by world renowned architects Kohn Petersen Fox and Ronald Lu & Partners.  The building’s external façade will consist of tempered glass, giving it a sleek and contemporary appearance and providing a panoramic view of the breathtaking Victoria Harbour. Each office level will boast a clear ceiling height of 2.9m and a typical floor plate of approx. 20,000 sq. ft. in lettable area, enabling flexible and efficient layout designs and maximizing open views. Located next to Victoria Park and with direct access to the Harbourfront trail, future occupants of One Causeway Bay are seamlessly provided with a great work-life balance.

One Causeway Bay will integrate a variety of the state-of-the-art green and smart features that are aimed at enhancing tenant wellness, operational efficiency and minimizing environmental impact. These features include, energy saving LED lighting system in the building, and an air purification system that maintains high air quality. In addition, with the installation of photovoltaics, renewable energy will be generated, and energy consumption will be lowered to reduce carbon footprint, while rainwater will be harvested and recycled for irrigation and air conditioning use. The addition of greenery on the rooftop, terrace and balcony will create a rejuvenating space for tenants. Having achieved pre-certifications for platinum grading from BEAM Plus, LEED, and WELL also in the process of obtaining platinum grading for Smartscore and Wirescore, One Causeway Bay presents itself as an optimal choice for companies seeking real estate solutions that contribute to their ESG objectives.

Laurent Kleitman, CEO of Mandarin Oriental Hotel Group said, “The transformation of One Causeway Bay into a world-class office building is one the city’s most prominent undertakings and we are pleased to be partnering with KPF, Ronald Lu & Partners, Gammon Construction and CBRE on this unique redevelopment project.  The overall project is aligned with the Group’s commitment to ensuring excellence and quality in every aspect of the design and construction, with particular emphasis on best practices in sustainable building. We have also appointed Hongkong Land to provide their renowned, best-in-class asset management services. Upon completion, the complex will not only offer exceptional working spaces for tenants, but also a wide variety of international restaurants and bars to cater for tenants and visitors. The project is due to be completed by the second quarter of 2025 and is set to become a new landmark in the heart of Causeway Bay.”

Ada Fung, Executive Director, Head of Advisory & Transaction Services – Office, CBRE Hong Kong, said: “We are delighted to be appointed as the lead leasing agency for the office space of this remarkable redevelopment project. Causeway Bay is a very unique location in the heart of Hong Kong, best known for its dynamism and vibrancy, an energetic place to work, live, and play. The brand-new One Causeway Bay will stand out at this exclusive historical location, with the incomparable view of the world-acclaimed Victoria Harbour and its bustling surroundings. This new commercial building will become an icon of Causeway Bay, an ideal choice for tenants who seek a sense of excitement and inspiration in life.”

• Big 5 Construct Saudi features 1,300+ local and international exhibitors from 47 countries showcasing 20,000+ products, 13 country pavilions and attracts 55,000+ visitors
• Saudi Contractors Authority (SCA) to host International Contracting Conference (ICC) at Big 5 Construct Saudi featuring dialogues around urban construction, smart cities, sustainability and advanced building techniques

• For the first time, Big 5 Construct Saudi has garnered the patronage of the Ministry of Municipal, Rural Affairs and Housing, highlighting the event’s significant role in promoting construction sector growth

Held under the patronage of His Excellency Mr. Majid Abdullah Al-Hogail, the Minister of Municipal, Rural Affairs and Housing in Saudi Arabia, the 12th edition of Big 5 Construct Saudi, the largest construction event to be ever held in the Kingdom, organized by dmg events, is gearing up to welcome visitors from 26 to 29 February 2024 at the Riyadh Front Exhibition & Conference Center.

Aligned with the goals of Vision 2030, Saudi Arabia has successfully launched nearly $1.25 trillion worth of real estate and infrastructure projects since 2016 (Source: Knight Frank). Big 5 Construct Saudi, which brings together companies from around the world to support the country’s ambitious transformation, is strongly positioned to further bolster the construction industry’s robust growth outlook.

This year, Big 5 Construct Saudi features the International Contracting Conference (ICC) organized by Saudi Contractors Authority (SCA) and dmg events, the leading international events organizer in the Kingdom.

Commenting on the partnership, Abdulmajid AlRashoudi, Governor of SCA, says: “Hosting the International Contracting Conference at Big 5 Construct Saudi symbolizes our dedication to highlighting the opportunities, discussing the challenges and facilitating dialogues to further boost the contracting sector in the Kingdom. By bringing together leading local and international contracting minds at the two-day conference, we are not only shaping the future of Saudi Arabia’s construction landscape but also strengthening our position as an enabler of advancements in the contracting sector.”

Muhammed Kazi, Vice President – Construction at dmg events, says: “Once again, we embark on a remarkable partnership with the SCA, this time to host the International Contracting Conference at Big 5 Construct Saudi, which brings together the entire construction value chain. Serving as a catalyst for the sector’s future advancement, ICC will showcase global contracting experts aiming to propel the industry forward at Big 5 Construct Saudi, where groundbreaking ideas, innovative technologies and unparalleled expertise converge.”

Strategic discussions to take the spotlight at ICC

In its 4th edition, the International Contracting Conference (ICC) gathers the top contractors and international contracting experts in the Kingdom for two days of insightful dialogues and discussions focusing on topics such as urban construction, smart cities, sustainability and advanced building techniques. The conference features over 25 speakers in 12 insightful sessions.

Across two days of high-level discussions, the conference welcomes a panel of speakers, including Guilherme Jacobucci, Executive Director, WSP, to share a detailed analysis and understanding of the current state of the construction industry and provide valuable insights into the challenges, opportunities and key factors shaping the contracting landscape in the Kingdom.

Jad Ibrahim, Vice President of Support Services, Shade Corporation, highlights the evolving landscape of workforce management in the contracting sector. At a time when Saudi Arabia continues to exhibit the strongest Construction Activity Index both regionally and globally, according to the Global Construction Monitor report by RICS, the need to drive recruitment, training and retention of the skilled workforce is crucial to the operational success of the mega and giga construction projects pipeline.

Also joining the lineup of speakers is Alfonso Senatore, Senior Vice President and Head of Sustainability, Sports Boulevard Foundation, who will shed some light on contractors’ Role in achieving Saudi Arabia’s Vision 2030 for sustainability.

Big 5 Construct Saudi represents full construction value chain

Taking place from 26-29 February 2024, at the Riyadh Front Exhibition & Convention Centre, Big 5 Construct Saudi attracts 55,000+ attendees and 1,300+ local and international exhibitors from 47 countries showcasing 20,000+ products.

Co-located with four specialized events HVAC R Expo Saudi, FM Expo Saudi, Stone & Surface Saudi Arabia and Windows, Doors & Facades Event Saudi, the exhibition covers 14 product sectors. These include building envelope & construction, building interiors & finishes, building materials & tools, building security & access control, intelligent buildings, offsite & modular construction, kitchen & bathroom, plant machinery & vehicles, and solar & MEP, in addition to the new sectors launched this year, such as concrete, construction technologies, paints, steel and urban design & landscape.

Big 5 Construct Saudi is free to attend for industry professionals. Visitor registrations are open at www.big5constructsaudi.com.

Danish multinational engineering group, Danfoss, has unveiled Asia Pacific’s first Sustainability Technology Center (STC) in Singapore today at the Nordic European Center, International Business Park, Singapore.

Supported by the Singapore Economic Development Board, the STC is set to become a prime gateway for introducing global decarbonization solutions to bolster the region’s sustainability efforts through technological development and strategic partnerships.

As a hub for competence development, the Center will also help to localize tried and tested solutions Danfoss has to offer to the Asia Pacific region, empowering local partners with the knowledge and skills for effective implementation of sustainable technologies.

The launch event was graced by Her Excellency, Ms. Tan Poh Hong, Singapore Ambassador to Denmark; Ms. Birgit Dohmann Chang, Deputy Head of Mission at Danish Embassy; Mr. Soh Wai Wah, Principal and CEO of Singapore Polytechnic; Mr. Kim Fausing, President and CEO of Danfoss; together with Mr. Jan Schoemaker, Regional President of Danfoss Asia Pacific Region; and Astrid Mozes, President Regions of Danfoss, commemorating Danfoss’ work and commitment to the green initiatives globally. Over 80 esteemed partners including business leaders, government embassies, agencies and institutions of higher learning were also in attendance.

Interchanging Ideas and Innovation

The STC will showcase live demonstrations of Danfoss’ global decarbonization solutions, where visitors get to witness groundbreaking technologies that underpin some of Singapore’s key sustainability projects. This includes the Electric Dream Ferry and Keppel Bay Tower, Singapore’s first BCA Green Mark Platinum Zero Energy commercial building. Apart from showcasing Danfoss’ novel marine electrification solutions, the STC will double up as a training, pre-testing and commissioning ground for future adopters.

Kim Fausing, President and CEO, Danfoss commented on the opening of the STC:

“Today marks another significant milestone for Danfoss. The Sustainability Technology Center will be a gateway for collaboration, partnerships, innovation, development, and elevating skills in sustainability solutions through training and application development. Seeing is believing, and this Center will serve as a platform for showcasing live decarbonization solutions to our customers and partners. Singapore’s sustainability initiatives and infrastructure make it a prime location to drive decarbonization efforts across the region and beyond. Personally, I am thrilled to witness the Sustainability Technology Center taking off successfully and accelerating the implementation of sustainability initiatives in Singapore and the wider Asia Pacific region. Being part of the solution to build a better future is what our purpose in Danfoss is all about.”

Situated at the central location of Asia Pacific, Singapore is easily accessible for various customers in the region, making this STC geographically strategic to support the different sustainability goals across the Asia Pacific countries. In addition, this STC is an expansion from the previous Green Building Training Center, that was launched in 2020, and the Marine Electrification Application Development Center (ADC) which was previously housed in the Danfoss Singapore Office. With a bigger space, we are now capable of showcasing more energy-efficient innovations for various megatrends.

Technologies That Drive A Sustainable Change Across Industries

With a specialization in Buildings, Food & Beverage, Land & Marine Electrification, and Industrial green technologies, the STC will showcase technologies to decarbonize cities and improve energy efficiency across various sectors. These solutions aim to play a pivotal role in Singapore’s roadmap to reach its sustainability commitments made at COP28, as well as its Green Plan 2030 goals. Its proprietary district cooling method alone saves up to 50 per cent of energy compared to conventional cooling systems.

Danfoss’ past projects in Singapore, such as the retrofitted Keppel Bay Tower that validates over 45 per cent energy savings, and its first plug-in parallel hybrid-electric fast launch vessel powered by Danfoss Editron – which saves between 10 to 20 per cent in emissions compared to traditional vessels, will also be spotlighted at the STC. Danfoss’ advanced heat exchangers, sensors, direct current (DC) charging panel technologies that serve as the foundation of Shell’s electric dream ferry design, Singapore’s first fully electric ferry service, will also be displayed live.

In line with the United Nations Sustainable Development Goals and Singapore’s 30-by-30 goals, Danfoss looks to safeguard food security and lower energy consumption across Food and Beverage partners across the region with the introduction of its vertical farming and CO2 cold room technologies. Leveraging thermo-physical properties of CO2 and expansion energy ejectors, these technologies help refrigerants scale at greater temperatures, while increasing overall system efficiency.

Forging Partnerships With Eyes Towards The Future

The STC will also foster the collaborative development of innovative sustainable solutions for traditional industries such as mining, palm oil, and construction. Specialized training to harness application of technologies will form the bedrock of the STC, as it works together with local partners and industries that are moving towards an environmentally conscious future.

Danfoss is also taking active steps to support Singapore Polytechnic (SP) in its efforts to make the entire educational campus CO2 neutral by 2030, as Singapore gears towards having at least one in five educational institutions reach carbon neutrality by 2030. The blueprint for SP comes from the ProjectZero model based on the town of Sønderborg, Denmark which is on track to be CO2 neutral in its energy system by 2029.

Danfoss is joining ProjectZero in assisting the polytechnic with knowledge, concepts, implementation models, and cost-effective solutions for decarbonizing the campus. Being Singapore’s first and oldest polytechnic in 2023 to achieve carbon neutrality campus wide, more than 12,800 SP students have set out to contribute to the goal. Housed in the STC, the ProjectZero model was also recognised by the World Economic Forum and UN Habitat as a “replicable, adaptable and scalable” decarbonization model for cities worldwide, effectively reducing the costs of the green transition by up to 50 per cent.

Noting the significance of this project, Soh Wai Wah, Principal and CEO of Singapore Polytechnic shares:

“Singapore is the nerve center of the region’s sustainable technology development, and the sentiments resonate with students as well. Danfoss’ pioneering technologies are inspiring the next generation of changemakers to a suite of world-class sustainability technologies, and it has become a stimulus to embrace the challenges that can be seen as a roadblock to meeting the 2030 goals. We are excited about our plans of incorporating Danfoss’ STC into Singapore Polytechnic’s Sustainability Learning Journey, offering SMEs the opportunity to explore a range of decarbonisation solutions for their environments.”

The partnership between the institution and Danfoss marks the beginning of a long-term commitment towards developing state-of-the-art technologies that will accelerate Singapore’s efforts for energy efficiency and carbon neutrality.

Dino Tan, Head of Region (Designate), International Operations, Europe, Singapore Economic Development Board also shared his sentiments and support:

“We are excited by Danfoss’ decision to establish its Sustainability Technology Centre in Singapore. The facility is a valuable addition to our ecosystem and reinforces our strength as a location for innovation and partnerships. We look forward to seeing the company develop new sustainability solutions with its local and regional partners and contribute to our sustainability goals.”

Working towards its mission “To help the world build a better future”, the STC aims to bring greater value and transformation to partners across the Asia-Pacific region through the most relevant technological application portfolios. By empowering changemakers with the knowledge and capabilities necessary for navigating and implementing sustainable practices effectively, Danfoss looks to enable a greener tomorrow for all.