Corporate | 12 November 2025 06:59


Zehnder Group Capital Markets Day Promising future prospects for Zehnder’s ventilation business

Gränichen (CH), 12 November 2025: Zehnder Group (SIX: ZEHN), a leading international provider of complete solutions for a comfortable, energy-efficient and healthy indoor climate, is holding its Capital Markets Day today to provide information on market developments in the ventilation systems sector, its strategy for strengthening its leading position in Europe and further expanding its presence and market share in the USA, as well as its latest innovative products and systems. “As one of the world's leading companies in innovative ventilation, heating, and cooling solutions, we want to and can benefit disproportionately from the emerging market growth,” says CEO Matthias Huenerwadel. “We have a clear strategy, technologically, economically, and ecologically convincing and recognized solutions and products, as well as the corresponding financial resources.”

Comprehensive indoor climate solutions are poised for a surge in demand

Zehnder Group recognized the changes in indoor climate control and ventilation early on and, in 2001, initiated a strategic shift from a radiator company to a global provider of ventilation systems by acquiring a ventilation company. Zehnder now generates two-thirds of its sales in the ventilation business and is one of the world's leading companies in this industry. Technological leadership, customer focus, and operational excellence were and remain crucial to this development. “What also sets us apart from the competition is our ability to develop indoor climate solutions that go beyond mechanical ventilation and include key comfort and safety factors such as proper circulation, temperature, and humidity, as well as noiselessness and low pollutant concentrations,” says CEO Matthias Huenerwadel.

Due to climate change, increasing air pollution, rising energy costs and the associated stricter building regulations, as well as higher demands for indoor comfort, the industry is facing a surge in demand as new construction activity picks up. While the share of radiators is steadily declining due to the widespread use of underfloor heating, that of ventilation systems is continuously increasing. In the coming years, growth of 4–6% is expected in the completion of houses and apartments in Europe, which will have a positive impact on demand for ventilation systems in residential areas. In North America, Zehnder is already the market leader in Canada and is growing in specific states in the US.

Clear strategy for growth above market development

Zehnder intends to benefit disproportionately from this market growth. Zehnder is therefore pursuing a clear strategy for the ventilation segment based on the principles of technological leadership, customer proximity, and operational excellence:

  • In Europe, market leadership is to be extended through targeted geographic expansion and an increased focus on the renovation market and the multi-family houses. In North America, growth is to be accelerated with a clear focus on the US market. The strategy centers on strengthening and expanding sales in key US states through a step-by-step approach that prioritizes regions with the highest growth potential. This expansion is guided by regional building regulations, climatic requirements, and the economic strength of the selected regions.
  • Growth in the defined regions is to continue to be driven by selective, value-generating acquisitions of technologically leading companies that are well established in their regions. Zehnder Group has extensive experience in this area, having acquired and successfully integrated more than a dozen companies since its change in strategy .
  • The service business, which includes the maintenance of installed systems, the regular replacement of consumable parts such as filters, the availability of spare parts, and the digital monitoring of systems, will continue to be expanded with priority. This above-average profitable business is expected to grow disproportionately in the coming years due to the continuously increasing installed base.
  • Zehnder aims to further strengthen its sales channels by intensifying collaboration with installation professionals and through direct sales, thereby increasing customer loyalty. The Zehnder Academy, a competence and training center currently being established at the company’s headquarters in Gränichen (CH), plays a central role in implementing this strategy.

Confirmation of guidance

Zehnder Group continues to pursue a disciplined capital allocation strategy and maintains its profit-oriented dividend policy with a payout ratio of 30–50% of net income. As confirmed during the presentation of the 2025 half-year results, Zehnder expects an average annual revenue growth of 5% and an operating profit margin (EBIT) between 9 and 11% in the medium term. The company remains confident in its ability to create long-term value for its shareholders through innovation, efficiency, and a clear strategic focus.

Next dates to note

Sales for 2025 16 January 2026
Integrated Annual Report 2025 and Media/Analyst Conference 2026 26 February 2026
Annual General Meeting 2026 19 March 2026
Six-month Report 2026 30 July 2026

Contact

René Grieder
Member of the Group Executive Committee, CFO
Zehnder Group AG, 5722 Gränichen (Switzerland)
T +41 62 855 15 21, rene.grieder@zehndergroup.com

Alexander Kamb
Head of Investor Relations & Communications
Zehnder Group AG, 5722 Gränichen (CH)
T +41 62 855 15 36, alexander.kamb@zehndergroup.com

This media release is published in German and English. The German version is binding. For further information about the Zehnder Group, please visit www.zehndergroup.com .

Company profile

Zehnder Group provides world-leading solutions for a comfortable, energy-efficient and healthy indoor climate. The products and services of the Group include heating, cooling, indoor ventilation and air cleaning. The Group develops and manufactures its products at its own factories in Europe, China, and North America. In the 2024 financial year, the Zehnder Group had about 3500 employees and achieved sales of EUR 706 million. The company is listed on the SIX Swiss Exchange (symbol: ZEHN, number: 27 653 461). The unlisted registered shares B are held by Graneco AG, which is controlled by the Zehnder families.

Cautionary note regarding forward-looking statements

This release may contain certain forward-looking statements relating to Zehnder Group’s future business, development, and economic performance. Such statements may be subject to a number of risks, uncertainties and other important factors, such as but not limited to force majeure, competitive pressures, legislative and regulatory developments, global, macroeconomic and political trends, Zehnder Group’s ability to attract and retain the employees that are necessary to generate revenues and to manage its businesses, fluctuations in currency exchange rates and general financial market conditions, changes in accounting standards or policies, delay or inability in obtaining approvals from authorities, technical developments, litigation or adverse publicity and news coverage, each of which could cause actual development and results to differ materially from the statements made in this release. Zehnder Group assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise.