Sales growth and investment in electric heating, heat pumps, digitalisation and heat networks headline another successful year for the German family business.
Viessmann has continued its path of consistent growth for the third consecutive year, reporting global sales of EUR 2.65 billion, an increase of 6.4 percent, in 2019. The business grew by 5 per cent in both 2017 and 2018.
Under the leadership of Prof. Dr. Martin Viessmann as Chairman and Max Viessmann as Co-CEO, the family business is progressing its strategic transformation from a traditional heating manufacturer to a provider of integrated solutions for living spaces. Viessmann develops seamless climate solutions to provide living spaces with the desired temperature, warm water, energy and good quality air.
“Based on our ability to act quickly, to make unbureaucratic decisions and to apply a long-term investment philosophy, Viessmann successfully continued the growth journey that we embarked upon four years ago. The foundation of our strategy is and remains profitable growth,” says Dr. Ulrich Hüllmann, Chief Financial Officer of the Viessmann Group.
In 2019, the Viessmann Group achieved double-digit percentage growth most notably in China, Eastern and Southeastern Europe and North America, but also in Finland, Sweden, the Netherlands and Austria.
In terms of products, the trend toward high-efficiency heat pumps continued in 2019 with a sales increase of approximately 24 percent. At the same time, fuel cell heating systems delivered positive performance with an increase of 25 percent.
Another growth highlight was the innovative “heat as a service” offering (renting instead of purchasing a heating system) with a dynamic growth rate of more than 100 percent.
Viessmann’s Refrigeration Solutions business recorded the highest growth increase of 15 percent last year.
In 2019, Viessmann Investment, a business area within the Viessmann Family Holding, successfully completed the following strategic acquisitions and investments:
- Etherma Elektrowärme GmbH, a supplier of electric panel heating systems, from Austria,
- Pewo Energietechnik GmbH, a leading solutions provider for local and district heating networks with headquarters in Germany,
- LämpöYkkönen Oy, a full-service provider of heat pumps, headquartered in Finland,
- Kospel S.A., a provider of power-based heating and hot water solutions with headquarters Poland, and
- Digital Energy Solutions GmbH & Co KG, a provider of holistic solutions for cross-sector energy management in the areas of electricity, heating and mobility with headquarters in Germany.
Viessmann intends to achieve continued dynamic growth, both organically, by providing innovative climate solutions and digital services in selected growth markets, as well as through targeted acquisitions.
“The combination of energy and building transition and digitalisation present our biggest opportunities in the company’s history. In view of climate change, we must all ask ourselves the question how much we want to do today for the generations of tomorrow. How do we create and maintain living spaces for our children and grandchildren? Climate protection is not a question of technological possibilities, but of sheer will, and for this we need courage – in society, in industry and in politics. With responsibility and courage we will continue to shape the future of our family business,” says Max Viessmann.
Image – Under the leadership of Prof. Dr. Martin Viessmann (right) as Chairman and Max Viessmann (left) as Co-CEO, the family business is progressing its strategic transformation from a traditional heating manufacturer to a provider of integrated solutions for living spaces.
About Viessmann Ltd.
Viessmann develops seamless and integrated climate solutions for the entire living space, providing people with the optimum room temperature, hot water and electricity, as well as good air quality. Through digital platforms and services, Viessmann connects products and systems, ensuring the most efficient energy sources are employed. Wherever technically possible, Viessmann promotes the use of renewable sources, in all other cases fossil fuels are used to maximum efficiency. Founded in 1917, the German family-owned company attaches particular importance to responsible and long-term action. The company vision: “Creating the living space for the generations of tomorrow” is the responsibility of the 12,000-strong Viessmann family worldwide.