Zehnder Group achieved solid sales and EBIT again in the first half of 2023; adjusted outlook for the 2023 financial year - Seite 2

Outlook for the full year 2023

Due to the current economic situation, the Zehnder Group expects that high levels of inflation and rising interest rates will continue to affect the number of planning permits granted for new buildings and renovation projects for customers. It is currently difficult to gauge when the new building and renovation business will recover. Against this background, the Zehnder Group continues to expect a challenging market development and currently does not expect any significant sales growth in the second half of 2023. Consequently, Zehnder Group expects sales for the full year 2023 between EUR 780 million and
EUR 820 million (previous outlook 2023: further sales growth for 2023), and an EBIT margin of around 8% of sales (previous outlook 2023: EBIT margin comparable to that of 2022).

In the long term, growth prospects remain positive, particularly in the ventilation segment. New building regulations for better insulated buildings, the increasing demand for energy-saving and efficient climate control solutions, and the desire for healthy indoor air quality, together with the still low penetration rates in various countries, are fueling growth – especially in the ventilation segment. Therefore, the medium-term targets of average annual sales growth of 5% and an EBIT margin of 9% to 11% remain unchanged.

The complete six-month report 2023 will be published on 28 July 2023 and will be found on our website under the following link: 
www.zehndergroup.com/de/investor-relations/berichte-und-praesentationen

Next dates to note

Six-month Report 2023	28 July 2023
Sales announcement 2023	19 January 2024
Annual Report 2023 and Media/Analyst Conference 2024	28 February 2024
Annual General Meeting 2024	11 April 2024
Six-month Report 2024	26 July 2024

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