Annual Report 2021
Management ReportCorporate GovernanceCompensation ReportFinancial ReportManagement Report
Dear shareholders,
Looking back on an eventful but once again largely successful year, the Zehnder Group demonstrated flexibility and resilience throughout 2021. We enjoyed a strong first half of the year with large order volumes as we dealt with pent-up demand. As the year progressed, we faced ever greater challenges presented by sharply rising raw material and component prices and a gradual decline in the availability of electronic components. Developments like these slowed our growth considerably. Nevertheless, we are pleased to be able to present a solid result for the year as a whole.
Key figures
|
|
|
2021 |
2020 |
% |
|
Sales |
EUR million |
697.1 |
617.7 |
12.9 |
|
EBITDA 1 |
EUR million |
92.1 |
74.8 |
23.1 |
|
|
% of sales |
13.2 |
12.1 |
|
|
EBIT |
EUR million |
69.1 |
50.5 |
36.8 |
|
|
% of sales |
9.9 |
8.2 |
|
|
Net profit 2 |
EUR million |
60.3 |
39.9 |
51.2 |
|
|
% of sales |
8.6 |
6.5 |
|
|
Cash flow from operating activities |
EUR million |
79.9 |
95.3 |
–16.2 |
|
|
% of sales |
11.5 |
15.4 |
|
|
Investments in property, plant and equipment & intangible assets |
EUR million |
21.9 |
16.7 |
30.9 |
|
Depreciation & amortisation |
EUR million |
–22.9 |
–24.3 |
–5.4 |
|
Total assets |
EUR million |
552.6 |
498.6 |
10.8 |
|
Non-current assets |
EUR million |
207.9 |
198.9 |
4.5 |
|
Net liquidity/(net debt) 1 |
EUR million |
123.2 |
96.4 |
27.8 |
|
Shareholders’ equity 2 |
EUR million |
362.4 |
326.9 |
10.9 |
|
|
% of total assets |
65.6 |
65.6 |
|
|
ROCE 1 |
% |
22.6 |
17.0 |
|
|
Number of employees |
Ø full-time equivalents |
3,554 |
3,340 |
6.4 |
|
Market closing price registered share A |
CHF |
93.10 |
59.10 |
57.5 |
|
Net profit per registered share A 3 |
EUR |
5.13 |
3.34 |
53.8 |
|
Shareholders’ equity per registered share A 3 |
EUR |
29.58 |
26.77 |
10.5 |
|
Dividend per registered share A 4 |
CHF |
1.80 |
1.25 |
44.0 |
|
Payout ratio |
% |
33 |
35 |
|
1 See Alternative performance measures in the consolidated financial statements in the Financial Report.
2 Including minority interests
3 Excluding minority interests
4 For 2021 as proposed by the Board of Directors
Company profile
The Zehnder Group improves quality of life with comprehensive indoor climate solutions. The globally active company develops and manufactures its products in 18 plants, including 3 in China and 3 in North America. Its sales activities, spanning more than 70 countries, take place through local sales companies and representative offices.
Zehnder Group products and systems for heating and cooling, comfortable indoor ventilation and air cleaning are characterised by outstanding design and high energy efficiency. The Group is among the market and technology leaders in its business areas with brands such as Zehnder, Acova and Core.
The Zehnder Group has had its headquarters in Gränichen (CH) since 1895. It employs around 3,500 people worldwide and achieved sales of EUR 697 million in 2021. The company is listed on the SIX Swiss Exchange (symbol ZEHN/number 27 653 461). The unlisted registered shares B are held by the Zehnder family and persons closely associated with them.
Locations
Further information for investors
Contact
Zehnder Group AG
Investor Relations
Moortalstrasse 1
5722 Gränichen (CH)
Phone +41 62 855 1521
investor-relations@zehndergroup.com
www.zehndergroup.com
Registered shares A
|
Valor number |
27 653 461 |
|
SIX |
ZEHN |
|
Bloomberg |
ZEHN SW |
|
Reuters |
ZEHN S |
Registered shares B (unlisted)
|
Valor number |
13 312 654 |
Registered shares A
|
Annual General Meeting 2022 |
7.4.2022 |
|
Ex-dividend date |
11.4.2022 |
|
Dividend payout |
13.4.2022 |
|
Six-month Report 2022 |
27.7.2022 |
|
End of business year |
31.12.2022 |
|
Sales for 2022 |
20.1.2023 |
|
Annual Report 2022 and Media/Analyst Conference 2023 |
1.3.2023 |
|
Annual General Meeting 2023 |
23.3.2023 |
News and reports, as well as this Annual Report, are available in German and English. The German version is binding.
News is published under www.zehndergroup.com/en/news.
Reports and presentations are published under www.zehndergroup.com/en/investor-relations/reports-and-presentations.