News

One-off effects due to the accelerated transformation into an innovative system specialist and service provider will impact the results for the 2024 financial year – but positive momentum in the second half of the year

• Group sales decreased by 7% to EUR 705.8 million
• Operating result (EBIT) totaled EUR 14.1 million (–76%), corresponding to an EBIT margin of 2.0% and a net loss of EUR –2.4 million
• One-off costs for strategic measures to sustainably optimise profitability and impairments amounted to EUR 35.9 million
• Adjusted EBIT¹ before one-off effects of EUR 50.1 million (–21% compared to previous year), corresponding to an EBIT margin of 7.1%
• Cash flow from operating activities of EUR 60.6 million (–31% compared to previous year)
• Proposal of a dividend of CHF 1.00 per registered share A (previous year: 1.30 CHF)
• Implementation of important measures according to plan like the acquisition of Siber, production optimisations in China and Switzerland, and the expansion of the Gränichen site into a centre of excellence for indoor climate solutions
• For the first time, ventilation segment with a 60% share of total sales in reporting year
• Confirmation of medium-term targets of average annual sales growth of 5% and an EBIT margin of 9–11%

• Zehnder Group sales fell by 7% to EUR 705.8 million in 2024. Geopolitical and economic uncertainty as well as high construction costs led to a decline in construction and renovation activities
• Sales in the ventilation segment decreased by 4% to EUR 424.2 million, influenced by the decrease in new residential construction. The Siber acquisition contributed positively, adding 4% to ventilation sales
• In the radiator segment, sales fell by 12% to EUR 281.6 million, primarily due to the decline in renovation activities

• Future consolidation of radiator production for flat tube radiators at the plant in France
• Conversion of the production site in Graenichen (CH) by building an international competence centre for the growing service and maintenance business and for information, training and professional development purposes
• Plans to reduce up to 50 production jobs in Graenichen, partially offset by the expansion of the service and maintenance business
• One-off costs of EUR 20.0-25.0 million for measures to expand the market position, repurposing of the Graenichen site, further restructuring measures, and impairments to consequently pursue the transformation to a climate system provider

• Appointment of President North America to spearhead the continued growth of Zehnder's North American business

• Group sales fell by 15% to EUR 344.7 million in the first half of 2024; ventilation and radiator segments both recorded lower sales
• Operating result (EBIT) of EUR 12.5 million, corresponded to an EBIT margin of 3.6%
• The divestment of the Climate Ceilings Solutions business resulted in a one-off loss of EUR 8.1 million; selective organisational adjustments led to one-off costs of around EUR 2.0 million
• EBIT before one-off effects¹ stood at EUR 22.6 million; the EBIT margin before one-off effects¹ of 6.6% stabilised at the level of the second half of 2023
• Cash flow from operating activities decreased to EUR 14.3 million (–36%)