Zehnder Group Reports 7% Decline in 2024 Sales

Zehnder Group, a leader in energy-efficient indoor climate solutions, reported a 7% drop in sales to EUR 705.8 million for 2024. The decline is attributed to geopolitical and economic uncertainties alongside high construction costs, resulting in decreased construction and renovation activities.

Sales in the ventilation segment decreased by 4% to EUR 424.2 million, with new residential construction declines affecting performance. The acquisition of Siber in Spain mitigated some impact by adding 4% to ventilation sales. However, the radiator segment saw a sharper decline of 12% to EUR 281.6 million, impacted by reduced renovation activities.

The EMEA region experienced a 2% reduction in ventilation sales, with Germany and Belgium seeing the most significant downturns. Conversely, North America saw a 3% increase, attributed to strength in the industrial air cleaning segment.