Switzerland's Zehnder H1 sales rise 3% on ventilation unit strength
Switzerland's Zehnder H1 sales rise 3% on ventilation unit strength
Overview
Switzerland indoor climate solutions firm's H1 sales rose 3% to EUR 394.9 mln
Adjusted EBIT grew 15% to EUR 37.7 mln, helped by ventilation segment gains
Company sees FY 2026 sales EUR 770-790 mln, adjusted EBIT margin steady at H1 level
Outlook
Zehnder sees 2026 sales between EUR 770 mln and EUR 790 mln
Company expects 2026 adjusted EBIT margin roughly at first-half level of 9.5%
Zehnder anticipates EUR 10 mln in one-off costs from divisional reorganization in 2026
Result Drivers
VENTILATION SEGMENT GROWTH - Sales in ventilation rose 7%, driven by gains across residential ventilation, Clean Air Solutions, and heat exchangers
NORTH AMERICA EXPANSION - Ventilation sales in North America rose 12%, helped by market share gains, sales network expansion, and growth strategy execution
RADIATOR SEGMENT PRESSURE - Radiator sales fell 5% amid price pressure and shift to lower-priced models; cost-reduction measures are starting to show results but profitability remains under pressure
Company press release: ID:nEQ3R7Szwa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Sales |
| EUR 394.90 mln |
|
H1 Net Income |
| EUR 23.90 mln |
|
H1 EBIT |
| EUR 32.20 mln |
|
H1 EBIT Margin |
| 8.20% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "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 CHF84.00, about 32.3% above its July 29 closing price of CHF63.50
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
July 28 - Carrier raises annual earnings forecast on air conditioning demand
July 29 - Ireland's Johnson Controls Q3 sales beat on data center demand; raises outlook
July 30 - Switzerland's Bucher H1 sales and profit fall on weak demand, restructuring costs
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.)