Zehnder Group Reports Strong Growth in Ventilation Segment

Zehnder Group AG announced a significant increase in sales for the first half of 2025, driven by the ventilation segment. The Group's sales rose by 11% to EUR 382.8 million, with the ventilation segment alone reporting a 24% rise to EUR 254.1 million. This segment now represents 66% of the total sales. The operating result (EBIT) increased by 45% to EUR 32.7 million, translating to an EBIT margin of 8.5%.

Net profit grew by 229% to EUR 23.5 million. Cash flow from operating activities climbed 60% to EUR 22.9 million, attributed to higher operating profits. The radiator segment faced an 8% decline, impacted by shifts towards lower-priced models and reduced demand in key regions like Germany and the UK. In contrast, the North American market saw increased demand for decorative radiators.

The company forecasts sales between EUR 740 million and EUR 770 million for 2025, maintaining an adjusted EBIT margin similar to the first half. Regional variations in residential construction and potential impacts from US tariffs suggest cautious optimism for the remainder of the year.