133 0 Kommentare Zehnder Group records a decline in sales in an increasingly challenging market environment - Seite 2

The EMEA region (Europe, Middle East and Africa) accounted for EUR 336.2 million (previous year: EUR 349.4 million) of ventilation sales. Positive growth rates were achieved primarily in the Netherlands, UK, in France, and Switzerland. EUR 69.1 million (previous year: EUR 59.4 million) of ventilation sales came from the North American region. Supported by the first-time consolidation of the full-year sales of the Canadian company Airia, the ventilation share of sales in North America rose from 57% to 60%, once again contributing to the further expansion of the business. The Asia-Pacific region generated lower sales of EUR 35.8 million (previous year: EUR 41.6 million).

Continued decline in sales in the radiator segment

The radiator segment generated sales of EUR 321.0 million in the reporting year. This corresponded to around 42% of the Group's total sales. Revenue fell by 11% (organically -11%). Price increases had only a minor positive impact on segment sales. Due to a combination of increased costs, an uncertain legislative environment, and a difficult economic situation in the renovation business, the radiator segment recorded similar sales in the second half of the year as in the first half.

EUR 268.2 million (previous year: EUR 310.1 million) of sales came from the EMEA region. Important markets such as France, the UK, Germany, and Italy recorded significant declines in sales. The loss of sales in Russia following the discontinuation of business activities there in 2022 also contributed to lower overall segment sales. Contrary to the general trend, Switzerland recorded sales growth due to its strong market position, and the North American region also generated slightly higher sales of EUR 45.5 million (previous year: EUR 44.3 million). The Asia-Pacific region contributed EUR 7.2 million (previous year: EUR 7.8 million) to total sales in the radiator segment.

Details on the 2023 sales by regions and segments (unaudited) can be found in the annex. The full annual financial statements for 2023 will be published on 28 February 2024 and will be found on our website at the following link: