Annual Report 2023

Management ReportCorporate GovernanceCompensation ReportFinancial Report   

Management Report 

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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.

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PDF Header: [Key Figures]

PDF Publication Title: [Zehnder Group Annual Report 2023]

Key figures 

 

 

2023

2022

%

Sales

EUR million

762.1

812.5

–6.2

EBITDA 1

EUR million

84.8

95.3

–11.0

 

% of sales

11.1

11.7

 

EBIT

EUR million

60.2

71.4

–15.7

 

% of sales

7.9

8.8

 

Net profit 2

EUR million

44.6

56.7

–21.3

 

% of sales

5.9

7.0

 

Cash flow from operating activities

EUR million

87.8

59.3

48.1

 

% of sales

11.5

7.3

 

Investments in property, plant and equipment & intangible assets

EUR million

23.1

27.1

–14.7

Depreciation & amortisation

EUR million

–24.6

–23.9

2.9

Total assets

EUR million

516.8

532.8

–3.0

Non-current assets

EUR million

226.4

228.6

–1.0

Net liquidity/(net debt) 1

EUR million

70.8

45.4

55.8

Shareholders’ equity 2

EUR million

347.3

340.8

1.9

 

% of total assets

67.2

64.0

 

ROCE 1

%

17.1

18.9

 

Number of employees

Ø full-time equivalents

3,772

3,827

–1.4

Market closing price registered share A

CHF

53.50

55.80

–4.1

Net profit per registered share A 3

EUR

3.84

4.84

–20.6

Shareholders’ equity per registered share A 3

EUR

29.55

28.20

4.8

Dividend per registered share A 4

CHF

1.30

1.80

–27.8

Payout ratio

%

35

37

 

1 See Alternative performance measures in the consolidated financial statements in the Financial Report

2 Including minority interests

3 Excluding minority interests

4 For 2023 as proposed by the Board of Directors

PDF Header: [Company Profile and Locations]

Company profile

Zehnder Group provides worldwide 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 financial year of 2023, Zehnder Group had about 3,500 employees and achieved sales of EUR 762.1 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.

Locations

PDF Header: [Further Information for Investors]

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 2024

11.4.2024

Ex-dividend date

15.4.2024

Dividend payout

17.4.2024

Six-month Report 2024

26.7.2024

End of business year

31.12.2024

Sales for 2024

17.1.2025

Annual Report 2024 and Media/Analyst Conference 2025

26.2.2025

Annual General Meeting 2025

3.4.2025

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.

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