The CAREL Board of Directors has approved the consolidated results as of 30 June 2025, with consolidated revenues, in the second quarter, of €158,8 million, +9,4% compared to the second quarter of 2024 and +11,3% at constant exchange rates.
Consolidated EBITDA amounted to Euro 58.3 million, up 9.5% compared to the first six months of 2024, representing 19% of revenues.
Commercial air conditioning
Francesco Nalini, Chief Executive Officer of the Group, stated: “The results achieved in the second quarter of 2025 are a particular source of pride. This milestone confirms the solidity of our operating model and the Group’s ability to deliver value even in a complex macroeconomic environment.”
“The performance of the period reflects a combination of different elements. From a sectoral perspective, we have witnessed a marked recovery in the HVAC segment, particularly driven by demand in commercial air conditioning and visible signs of improvement in the residential sector (heat pumps) in the EMEA area.”
“From a geographical standpoint, in addition to the consolidation of the recovery in Europe, there is a clear, strong recovery in the APAC region, where our ability to seize growth opportunities played a crucial role.”
Positive trend
“Furthermore, the positive trend continues in North America, driven by strong demand related to the data center sector and the acceleration, also in this region, of commercial air conditioning,” continued Francesco Nalini.
“Looking ahead, there remains a significant level of uncertainty, mainly linked to the developments in the geopolitical scenario.”
“Nevertheless, the flexibility provided by our global production structure, based on the ‘local for local’ philosophy, and the constant investment in innovation and technological development allow us to confidently face future challenges and swiftly seize the opportunities that will emerge in the coming quarters.”
