Transformation into an indoor climate specialist is proving effective
The Zehnder Group, which operates in the indoor climate sector, increased its turnover to €760.7 million in the 2025 financial year – an increase of 8 per cent over the previous year. The ventilation segment in particular recorded strong demand, while turnover in the radiator segment continued to decline.
According to a statement, the Zehnder Group increased its turnover by 8 per cent to €760.7 million in the 2025 financial year. The ventilation segment in particular recorded strong demand, while turnover in the radiator segment continued to decline. The Group’s EBIT (earnings before interest and taxes) grew by 348 per cent to €63.4 million. In the previous year, one-off effects amounting to €35.9 million as a result of targeted portfolio adjustments and production relocations had weighed on earnings. Net profit in 2025 was €47.8 million, following a net loss of €2.4 million in the previous year. Operating cash flow also improved significantly to €80.0 million.
The ventilation segment was a particular growth driver. Its sales rose by 18 per cent to €501.7 million in 2025. The acquisition of Siber in 2024 contributed around 5 per cent to growth in the segment. The ventilation segment’s share of total sales thus increased to 66 per cent, up from 60 per cent in the previous year. In regional terms, sales in the EMEA region (Europe, Middle East, Africa) rose by 23 per cent to €403.3 million, and in North America by 7 per cent to €76.1 million. In Asia-Pacific, however, sales fell by 10 per cent to €22.3 million.
The radiator segment, on the other hand, recorded an 8 per cent decline in sales to €259.0 million. Its share of total sales fell from 40 to 34 per cent. The main reasons for this were weaker renovation activity in Europe and a trend towards cheaper radiator models.
Zehnder expects demand for energy-efficient indoor climate solutions to continue to grow in the current financial year. Following its accelerated transformation from a radiator manufacturer to a leading provider of indoor climate solutions, the company intends to consistently exploit opportunities in the ventilation market, according to the announcement. In the medium term, Zehnder expects average annual sales growth of around 5 per cent and an EBIT margin before one-off effects of 9 to 11 per cent.