Switzerland · Delayed Price · Currency is CHF Zehnder Group AG Earnings Call Transcripts
Fiscal Year 2025
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Record ventilation sales and strong service growth drove an 8% revenue increase and a return to profitability, while radiator sales declined amid market pressure. Cash flow and margins improved, enabling higher dividends and full loan repayment.
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Ventilation now drives 66% of sales, with strong growth in Europe and North America, supported by regulatory trends, innovation, and service expansion. Financials show double-digit growth and improved margins, with a focus on bolt-on acquisitions and digital services for sustained value creation.
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Ventilation sales surged 24% year-over-year, driving group sales up 11% and EBITDA up 45%, while the radiator segment continued to decline. Cost-saving measures and production consolidation are set to support margins in H2, with full-year sales expected between €740–770 million.
Fiscal Year 2024
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2024 saw a 7% sales decline and a net loss due to restructuring, but ventilation and service segments showed resilience, with growth in the second half and strong cash flow. Outlook for 2025 is cautious, focusing on growth in select markets and continued transformation.
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Sales declined 15% year-over-year due to a severe market slump, with EBIT margin before one-offs at 6.6%. Strategic investments and cost reductions continued, while the Siber acquisition and divestment of climate ceiling solutions marked key portfolio moves.