News

• Accelerated transformation of the Zehnder Group from a traditional radiator company to an innovative, globally active system provider for ventilation and indoor climate
• The effects of climate change, increasing air pollution, rising energy costs, and legal requirements are driving demand for economically attractive, energy-efficient, and reliable system solutions
• Focus on expanding market leadership in Europe and geographical expansion in North America through value-generating acquisitions, expanding the service business on the growing base of installed equipment, and intensifying cooperation with the installation industry in Europe and expanding sales in the USA
• Expanding the range of innovative products for the renovation and multi-family housing market is intended to accelerate future growth and broaden its base, making it less dependent on the construction cycle, together with the growing service business
• High-end radiators are part of the integrated indoor climate business, but the share of the above-average profitable ventilation business in total sales, currently at 66 percent, will continue to rise

• Group sales rose by 11% to EUR 382.8 million in the first half of 2025
• Strong sales increase in the ventilation segment of 24% (organically +15%¹) to EUR 254.1 million; ventilation sales rose to 66% (previous year: 59%) of total sales
• Operating result (EBIT) was EUR 32.7 million (+45%); EBIT margin of 8.5%; no one-off effects in the first half of 2025
• Net profit increased by 229% to EUR 23.5 million
• Cash flow from operating activities grew by 60% to EUR 22.9 million
• Guidance for the 2025 financial year: sales of between EUR 740 and EUR 770 million and an adjusted EBIT margin approximately on the level of the first six months

• Signing of a letter of intent to sell Airthings' business segment assets to Zehnder
• Targeted strengthening of Zehnder's growing Clean Air Solutions service division with innovative solutions for indoor air quality monitoring
• Asset Purchase Agreement planned, pending customary due diligence

Strong growth in ventilation segment confirms focus strategy