FY2006 financial results
Daikin Europe N.V. (13/07/2007)
Daikin Europe announces FY2006 results.
Consolidated growth of 24%
Daikin Europe N.V. has announced its financial results for FY2006 (1 April 2006 – 31 March 2007). Growth of 24% over the previous year was noted, with consolidated net sales of 1.517 billion euro. Factors contributing to this growth included the extended summer weather, tax incentives related to energy efficiency, continued strength in the construction industry and product innovations by Daikin.
Strong growth in commercial systems
The fact that the warm weather in 2006 extended into the autumn kept demand high and meant that the construction industry could continue to work at full capacity, explaining why commercial applications such as VRV and Sky Air were in high demand.
Positive trend expected to continue into FY2007
2006 also saw Daikin Europe N.V. taking over responsibility for Daikin A/C South Africa from parent company Daikin Industries Ltd. (April 2006). Furthermore, new sales offices were set up in Ireland (July 2006) and the Middle East.
FY2007 will see an increased focus on the important Turkish market with a local Daikin marketing company in Istanbul (May 2007) and a newly appointed distributor. In addition, Daikin’s already strong presence in Europe is in 2007 further supplemented with the acquisition of our distributor in the Netherlands.
New products and markets
In parallel with network expansion and developing the synergies present in the OYL acquisition, Daikin intends to further develop and market new products with the lowest possible impact on the environment. Related to this will be Daikin’s continued development of its presence in the home heating market with its acclaimed Altherma heat-pump systems.
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