Swiss Zehnder Group further increases profitability

The Zehnder Group (SIX: ZEHN), a leading international provider of complete solutions for a healthy indoor climate, succeeded in the second half of 2020 in reducing the COVID-19-related decline in sales in the first half, and in further increasing operating profitability. The medium-term goal of an EBIT margin of 8 % announced in 2018 is thus within reach. The future course of business remains difficult to predict in view of the ongoing pandemic.

After the COVID-19-related decline in sales by 9 % in the first half of 2020, the Zehnder Group’s sales recovered steadily in the second half of the year. Demand in the key markets has remained high despite re-imposed restrictions in connection with the second wave of the coronavirus, and there have been no further significant interruptions in the manufacturing chain to date. For the year as a whole, the Zehnder Group expects sales in the region of EUR 613 to 618 million, which corresponds to a decrease of 4 to 5 %, and an operating result (EBIT) of EUR 49 to 51 million (previous year EUR 42.1 million). The medium-term goal of an EBIT margin of 8 % announced in 2018 is thus within reach.

The sales figures for 2020 will be published on 15 January 2021. The full end-of-year financial statement will follow on 24 February 2021. The further course of business remains subject to risks due to the uncertainties associated with the ongoing COVID-19 pandemic.

The Zehnder Group improves quality of life with comprehensive indoor climate solutions. The globally active company develops and manufactures its products in 17 plants, including 6 in China and North America. Its sales activities, spanning more than 70 countries, take place through local sales companies and representative offices.

Zehnder Group products and systems for heating and cooling, comfortable indoor ventilation and air cleaning are characterised by outstanding design and high energy efficiency. The Group is among the market and technology leaders in its business areas with brands such as Zehnder, Runtal, Acova, Bisque, Greenwood, Paul, Core, Enervent and Recair.

The Zehnder Group has had its headquarters in Gränichen (Switzerland) since 1895. It employs around 3300 people worldwide and achieved sales of EUR 644 million in 2019. The company is listed on the SIX Swiss Exchange (symbol ZEHN/number 27 653 461). The unlisted registered shares B are held by the Zehnder family and persons closely associated with them.