By continuing to invest in new technology and emerging markets, Daikin Europe N.V has sustained growth in 2013-14. The company's consolidated turnover was €1,902 million for the financial year 2013, up 4% on the previous year, with profit growing by 17% compared with 2012.
Growth was driven mainly by emerging markets - particularly Turkey - which saw turnover rise by 17%. Increased activity in the hotel sector led to a 50% growth in sales of the company’s VRV commercial climate control system. This 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 which is expected to continue, as demonstrated by strong sales across the region in the final quarter of 2013. Alongside Turkey, Daikin Central Europe turnover grew by 10%, while Sweden saw growth of 23%, mainly due to increased sales of Daikin Altherma heat pumps.
New products launched in 2013 included 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 2014 red dot award for product design in the air conditioning category.
