Solid sales and EBIT again in the first half of 2023 in a challenging environment

Zehnder Group AG / Key word(s): Half Year Results Solid sales and EBIT again in the first half of 2023 in a challenging environment 28-Jul-2023 / 06:59 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Group sales increased by 2% to EUR 407.0 million; for the first time, Zehnder Group achieved 60% of total sales in the ventilation segment Organic sales growth of 21% to EUR 62.9 million in North America Operating result (EBIT) rose by a slight 2% to EUR 37.5 million, which corresponds to an EBIT margin at previous year’s level of 9.2% EBIT margin of 14.7% in ventilation and 0.9% in radiators Cash flow from operating activities increased to EUR 22.3 million (+93%)

Graenichen (CH), 28 July 2023: The Zehnder Group (SIX: ZEHN), a leading international provider of complete solutions for a comfortable, energy-efficient and healthy indoor climate, increased its sales by 2% to EUR 407.0 million in the first half of 2023 (organically –1%[1]). Acquisitions from the previous year contributed 3% to sales growth. Foreign exchange effects had a slightly negative impact of around –1% on consolidated sales. For the first time in its history, Zehnder Group achieved 60% of total sales in the ventilation segment. Accordingly, the share of sales in the radiator segment was 40%.

Sales in the ventilation segment increased by 12% (of which 7% was organic) to EUR 245.4 million in the first half of 2023. The most recent acquisitions contributed 6% to sales growth, while currency effects had a slightly negative impact of –1%. The enhanced component availability led to improved delivery capability, particularly in residential ventilation. Consequently, production volumes of ventilation units were increased, and the backlog of orders accumulated due to a lack of components was largely reduced.