Carel Industries SpA
F:CIG

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Carel Industries SpA Logo
Carel Industries SpA
F:CIG
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Price: 37.137 EUR -3.46% Market Closed
Market Cap: 3.7B EUR

Carel Industries SpA
Investor Relations

Carel Industries SpA has crafted a niche for itself in the intricate world of climate control and humidification technologies. Born from a deep-seated commitment to innovation, the company operates at the crossroads of energy efficiency and the burgeoning demand for sustainable solutions. Headquartered in Italy, Carel has grown from a small manufacturer to a significant player on the global stage, supplying sophisticated systems that regulate various environmental parameters within buildings and industrial processes. Their advanced solutions include temperature controls for heating, ventilation, air-conditioning, and refrigeration (HVAC/R) systems, as well as specialized electronic components and systems for humidification. Each product is designed to integrate seamlessly into existing infrastructures, showcasing Carel’s ingenuity in combining cutting-edge technology with practical application.

At the heart of Carel Industries’ business model is a relentless pursuit of energy conservation and ecological balance, driving both their innovative processes and revenue streams. Through a robust network of sales and technical support teams across numerous countries, the company not only distributes its products worldwide but also ensures they are implemented effectively, enhancing customer satisfaction and fostering long-term relationships. The sale and service of these systems form the backbone of their revenue. Meanwhile, their commitment to research and development holds them in good stead, as they continuously refine and expand their product line to meet the ever-evolving demands of modern infrastructure. In essence, Carel’s profitability thrives on their ability to blend technical proficiency with ecological consciousness, positioning them as leaders in a market increasingly oriented towards sustainability.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Revenue Growth: Carel reported 14% organic revenue growth in Q3, exceeding expectations. Year-to-date revenue reached EUR 463.7 million, up 7.1% from last year.

Profitability: EBITDA margin improved to the highest level in 7 quarters, reaching about 21% in Q3, with adjusted EBITDA at 19.8% of sales for the 9 months.

Cash Generation: Strong operating performance led to net debt reduction to EUR 14.8 million from EUR 50.2 million at 2024 year-end, with free cash flow for 9 months at EUR 63.5 million, more than triple last year.

Regional & Sector Performance: Growth was broad-based, with North America up 30% organically in Q3 and double-digit organic growth in most regions and sectors, especially in HVAC and data centers.

Guidance: Management expects Q4 revenue to be broadly in line with Q3, indicating continued growth, but notes seasonality and potential December volatility.

Margins Outlook: Q4 is expected to follow historical seasonality, with profitability lower than the rest of the year, reversing last year's exceptional margin.

Key Financials
Revenue
EUR 463.7 million
Organic Revenue Growth (Q3)
14%
Adjusted EBITDA
EUR 91.9 million
Adjusted EBITDA Margin
19.8%
Reported EBITDA Margin (Q3)
Approx. 21%
Net Profit
EUR 42.3 million
Free Cash Flow (9 months)
EUR 63.5 million
Net Debt
EUR 14.8 million
CapEx
EUR 15.3 million
Tax Rate
23.1%
Dividend Paid (June 2025)
EUR 18.6 million
Net Operating Cash Flow (9 months)
Double the same period last year
Earnings Call Recording
Other Earnings Calls

Management

Mr. Francesco Nalini
CEO & Director
No Bio Available
Mr. Luigi Nalini
Executive Deputy Chairperson
No Bio Available
Ms. Carlotta Rossi Luciani
Executive Director
No Bio Available
Mr. Nicola Biondo
Chief Financial Officer
No Bio Available

Contacts

Address
PADOVA
Brugine
Via dell'Industria, 11
Contacts
+390499716611.0
www.carel.com