Switzerland's Zehnder 2025 sales up 8% on ventilation growth; confirms medium-term targets

Zehnder AG

26/02/2026 06:06

Overview

Swiss indoor climate solutions provider's 2025 sales rose 8%, driven by ventilation segment growth

Company's EBIT surged 348% to EUR 63.4 mln, net profit reached EUR 47.8 mln

Proposed dividend increase to CHF 1.40 per share, up from CHF 1.00

Outlook

Company expects slightly positive trend in construction activity for 2026

Zehnder sees demand for energy-efficient solutions growing despite macroeconomic challenges

Company confirms medium-term targets of 5% annual sales growth and 9-11% EBIT margin

Result Drivers

VENTILATION GROWTH - Ventilation segment sales rose 18% to EUR 501.7 mln, driven by new building regulations and market share gains

RADIATOR DECLINE - Radiator segment sales fell 8% to EUR 259.0 mln due to reduced renovation activity and economic uncertainty

EBIT INCREASE - EBIT rose 348% to EUR 63.4 mln, with improved profitability due to higher volumes and absence of prior one-off effects

Company press release: ID:nEQ4mqmwfa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
EUR 47.80 mln
FY EBIT
EUR 63.40 mln
FY EBIT Margin
8.30%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy"

Wall Street's median 12-month price target for Zehnder Group AG is CHF95.00, about 11.4% above its February 25 closing price of CHF85.30

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)