Financial Report – Consolidated financial statements

Overview of companies

PwC Schweiz PwC Switzerland

As at 31 December 2024, the consolidation scope of Zehnder Group comprised the following companies.

Unless otherwise stated, the capital stock is shown in the relevant local currency.

Activity

Capital stock

Capital share in %

Consolidated

Austria

Vienna

Zehnder Österreich GmbH

S

5,000

100

Fully

Belgium

Mechelen

Zehnder Group Belgium nv/sa

S

800,010

100

Fully

Canada

London

Airia Brands Inc.

S/P

27,162,000

100

Fully

Vancouver

Core Energy Recovery Solutions Inc.

S/P

18,766,213

100

Fully

China

Dachang

Dachang Zehnder Indoor Climate Co., Ltd.

P

200,000,000

73

Fully

Beijing

Zehnder (China) Indoor Climate Co., Ltd.

S

228,250,000

73

Fully

Pinghu

Nather Ventilation System Co., Ltd.

S/P

60,000,000

76

Fully

Pinghu

Zhejiang Nather Water Treatment Technology Co., Ltd.

S

5,000,000

39

Fully

Shanghai

Shanghai Nather Air Technology Co., Ltd.

O

3,200,000

76

Fully

Shanghai

Zehnder Group Enterprise Management (Shanghai) Co., Ltd.

O

2,516,000

100

Fully

Xi’An City

Xi’An Nather HVAC Equipment Co., Ltd.

S

1,000,000

15

At equity

Zhongshan

Zhongshan Fortuneway Environmental Technology Co., Ltd.

S/P

11,111,000

51

Fully

Czech Republic

Prague

Zehnder Group Czech Republic s.r.o.

S

200,000

100

Fully

Estonia

Tallinn

Zehnder Baltics OÜ

S

2,556

100

Fully

Finland

Porvoo

Enervent Zehnder OY

S/P

250,000

100

Fully

France

Évry

Zehnder Group France

S

6,261,866

100

Fully

Évry

Zehnder Group Participations SAS

O

22,744,000

100

Fully

Mâcon

Zehnder Caladair International SAS

S/P

1,000,000

100

Fully

Mâcon

Calihce SCI

O

2,000

100

Fully

Modane

Filtech France SARL

S/P

128,000

100

Fully

Modane

ELP SCI

S/P

2,000

100

Fully

Saint-Quentin

HET Transport & Logistique SAS

O

687,000

100

Fully

Vaux-Andigny

Zehnder Group Vaux Andigny SAS

P

4,200,000

100

Fully

Germany

Lahr

Zehnder Group Deutschland GmbH

S

2,000,000

100

Fully

Lahr

Zehnder GmbH

P

25,000,000

100

Fully

Lahr

Zehnder Group Deutschland Holding GmbH

O

2,100,000

100

Fully

Lahr

Zehnder Group Grundstücksverwaltungs-GmbH

O

1,100,000

100

Fully

Lahr

Zehnder Logistik GmbH

O

250,000

100

Fully

Reinsdorf

Core Energy Recovery Solutions GmbH

S

25,000

100

Fully

Reinsdorf

Core Production Germany GmbH

P

2,100,000

100

Fully

Hungary

Budapest

Zehnder Hungary Kft.

S

3,000,000

100

Fully

Italy

Campogalliano

Zehnder Group Italia S.r.l.

S

80,000

100

Fully

Netherlands

Zwolle

Zehnder Group Zwolle B.V.

P

908,000

100

Fully

Zwolle

Zehnder Group Nederland B.V.

S

18,000

100

Fully

Udenhout

Filtech Nederland B.V.

S/P

5,000

100

Fully

Waalwijk

Core Production Waalwijk B.V.

S/P

114,000

100

Fully

Norway

Bekkestua

Exvent AS

S

300,000

100

Fully

Poland

Bolesławiec

Zehnder Group Bolesławiec Sp. z o.o.

P

51,280,000

100

Fully

Wrocław

Zehnder Polska Sp. z o.o.

S

4,000,000

100

Fully

Spain

Barcelona

Industrias Gonal Hispania, S.L.U.

S/P

540,900

100

Fully

Barcelona

Metair 2010, S.L.U.

S/P

114,771

100

Fully

Barcelona

Siber Zone, S.L.U.

S/P

103,005

100

Fully

Sabadell

Zehnder Group Iberica Indoor Climate, S.A.U.

S

300,500

100

Fully

Barcelona

Zehnder Spain Holding, S.L.U.

O

3,453,000

100

Fully

Madrid

Zerfas Europe, S.L.U.

O

2,969,800

100

Fully

Sweden

Motala

Zehnder Group Nordic AB

S

6,400,000

100

Fully

Motala

Zehnder Group Motala AB

P

120,000

100

Fully

Switzerland

Gränichen

Zehnder Group AG

O

562,410

Fully

Gränichen

Zehnder Group Produktion Gränichen AG

P

2,900,000

100

Fully

Gränichen

Zehnder Group International Ltd

O

1,000,000

100

Fully

Gränichen

Zehnder Group Schweiz AG

S

500,000

100

Fully

Gränichen

Zehnder Group Swiss Property AG

O

2,000,000

100

Fully

Rancate

Filtech Swiss SA

S

100,000

100

Fully

Türkiye

Manisa

Hotpan Isitma Sistemleri Pazarlama ve Ticaret Aş

S

50,004

100

Fully

Manisa

Sanpan Isitma Sistemleri Sanayi ve Ticaret Aş

S/P

104,481,674

100

Fully

UK

Camberley

Zehnder Group UK Ltd

S/P

3,500,002

100

Fully

Camberley

Zehnder Group UK Holdings Ltd

O

20,000,000

100

Fully

USA

Buffalo NY

Hydro-Air Components, Inc. (Zehnder Rittling)

S/P

55,950

100

Fully

Buffalo NY

Zehnder Clean Air Solutions NA, LLC

S

n/a

100

Fully

Hampton NH

Zehnder America, Inc.

S

10

100

Fully

Ward Hill MA

Runtal North America, Inc.

S/P

193,522

100

Fully

Ward Hill MA

Zehnder Corporate Americas, Inc.

O

1,000

100

Fully

Ward Hill MA

Zehnder Group US Holdings, Inc.

O

30

100

Fully

P: production; S: sales; O: other functions

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