23.03.2012

Zehnder Group 2011 Sales in excess of EUR 500 million for the first time – High operating margin maintained – Market share increased further in radiators and ventilation business

Gränichen/Switzerland, 23 March 2012 – Zehnder Group, which operates internationally in the indoor climate sector (radiators and ventilation), reported an 8% increase in sales for the 2011 business year to EUR 515 million. On an organic basis and adjusted for currency effects, sales revenues likewise rose by 8%. Growth in the ventilation business (+19%) was once again higher than in the radiator segment (+4%), with ventilation accounting for 32% of Group sales (2010: 30%).

At EUR 51.1 million or just under 10% of sales, operating EBIT was slightly higher than in 2010. Net income increased by 7% to EUR 41.1 million. The continued high level of profitability is due to a number of product innovations as well as to a strategic initiative launched three years ago.

The board of directors is proposing to the general meeting of shareholders a par value reduction of CHF 1.20 per bearer share and a dividend of CHF 0.20 The Group executive committee is anticipating a slight increase in revenues for the radiator business in 2012 and another clear rise in sales for the ventilation segment. The operating profit margin is expected to be up slightly on the prior-year level.