Ariston Holding NV
MIL:ARIS
Ariston Holding NV
Nestled in the heart of Italy’s storied industrial landscape, Ariston Holding NV has carved a reputation as a global leader in providing heating and water heating solutions. Emerging from the industrious legacy of its founding family, Ariston combines traditional values with innovative technology to address modern energy needs. The company operates in more than 150 countries, fueled by its commitment to energy efficiency and sustainable solutions. Its product portfolio spans boilers, heat pumps, and water heaters, blending comfort with sustainability. Through a network of research and development centers, Ariston consistently pushes the envelope in developing technologies that lower energy consumption, reduce carbon footprints, and comply with increasingly stringent environmental standards.
The monetary engine of Ariston Holding NV is driven by a multifaceted approach. Revenue streams are anchored in both consumer and professional markets, targeting residential, commercial, and industrial clients. By offering a broad range of premium products and focusing on after-sales service, Ariston ensures customer loyalty and repeat business. The strategic emphasis on energy-efficient systems aligns with global trends towards sustainability, opening up additional opportunities through governmental energy incentives in various countries. Furthermore, its commitment to expanding geographic reach and investing in local partnerships strengthens its global footprint, ensuring a steady growth trajectory and continued relevance in the competitive heating and water solutions market.
Nestled in the heart of Italy’s storied industrial landscape, Ariston Holding NV has carved a reputation as a global leader in providing heating and water heating solutions. Emerging from the industrious legacy of its founding family, Ariston combines traditional values with innovative technology to address modern energy needs. The company operates in more than 150 countries, fueled by its commitment to energy efficiency and sustainable solutions. Its product portfolio spans boilers, heat pumps, and water heaters, blending comfort with sustainability. Through a network of research and development centers, Ariston consistently pushes the envelope in developing technologies that lower energy consumption, reduce carbon footprints, and comply with increasingly stringent environmental standards.
The monetary engine of Ariston Holding NV is driven by a multifaceted approach. Revenue streams are anchored in both consumer and professional markets, targeting residential, commercial, and industrial clients. By offering a broad range of premium products and focusing on after-sales service, Ariston ensures customer loyalty and repeat business. The strategic emphasis on energy-efficient systems aligns with global trends towards sustainability, opening up additional opportunities through governmental energy incentives in various countries. Furthermore, its commitment to expanding geographic reach and investing in local partnerships strengthens its global footprint, ensuring a steady growth trajectory and continued relevance in the competitive heating and water solutions market.
Revenue Growth: Ariston returned to organic revenue growth in Q1, with a 2.4% like-for-like increase and reported revenue up 2.1% to EUR 648 million, marking a turning point after four quarters of declines.
Margin Improvement: Adjusted EBIT rose 26.3% year-on-year to EUR 35 million, with a 100 basis point margin expansion to 5.4%, driven by efficiency measures.
Cash Flow: Free cash flow improved significantly, with outflows nearly halved to minus EUR 17 million from minus EUR 51 million the prior year, thanks to better working capital management.
Market Trends: Heat pump volumes in Germany (Ariston's largest market) grew 30% while fossil-fuel boilers fell 40-50%. Water heating remained resilient, and the company outperformed in renewables.
Guidance Confirmed: Full-year guidance is unchanged: organic revenue growth of 0% to 3% and adjusted EBIT margin above 7%. No significant price pressure or changes in market pricing dynamics noted.
Russian Subsidiary: The Russian business has returned to Ariston's management and will be reconsolidated from Q2, but is expected to contribute only gradually in 2025.
CapEx & M&A: CapEx to remain at 5–6% of revenue, with ongoing investment in product development and consideration of M&A opportunities.
