BELGIUM: Strong European demand for warmth pumps helped Daikin Europe NV obtain file gross sales of €5.2bn within the yr to March 31, a 20% enhance on final yr.

Sales of residential warmth pumps are mentioned to have grown by over 50%, outperforming the market. 

Daikin stories that the “significant” gross sales development was achieved regardless of the continuing world challenges of continued elements scarcity, provide chain disruptions, the European vitality disaster, excessive inflation and decrease shopping for energy.

“Despite challenging economic headwinds, Daikin Europe’s strong growth in 2022 exceeds the ambitious targets of our five-year strategic Fusion 25 plan. Our low-carbon heating and cooling innovations developed in and for EMEA continue to enable the region’s energy transition,” commented Masatsugu Minaka, Daikin Europe’s chairman

Daikin attributes its elevated market share to its current investments in European manufacturing capability. “With the increasing demand for heat pumps, our supply and manufacturing organisation was able to increase production output beyond initial plans, despite difficult and irregular component sources,” defined Takayuki Kamekawa, Daikin Europe’s vice-president gross sales. “As a result, we realised more than 150% heat pump heating turnover growth compared to the previous fiscal year.”

The post-covid European business market, nonetheless confirmed instability in retail and hospitality business investments, Daikin says, however its strongest asset proved to be the well-positioned line-up for mild business functions similar to small knowledge centres and warehousing, and good availability of huge business VRV ranges.

In the refrigeration section, low demand from meals retail chains is alleged to have had a detrimental affect on the outcomes of Daikin Europe’s subsidiary AHT.

Investments

Daikin Europe made various key investments in 2022, along with the acquisition of Italian technical service supplier Landi SpA. These included over €90m investments to increase operations in its warmth pump factories in Belgium, Germany, Czech Republic and Turkey and an funding of €300m in a brand new residential warmth pump manufacturing facility in Poland. 2022 additionally marked the opening of Daikin’s first manufacturing facility in Saudi Arabia for the manufacturing of air dealing with items and utilized air-con options.

The Daikin Europe group additionally welcomed over 1,200 new workers in 2022, rising its workforce by roughly 10%. It plans to recruit an additional 7,000 folks earlier than 2030, practically doubling its present staffing from 12,800 to twenty,000 workers in EMEA.