Centrotec SE
XHAM:CEV
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Centrotec SE
CENTROTEC SE engages in the supply of heating and climate control technology for buildings. The company is headquartered in Brilon, Nordrhein-Westfalen and currently employs 3,239 full-time employees. The company specializes in air conditioning, heating and ventilation providing products and integrated system solutions. The company operates through three business segments: Climate Systems, Gas Flue Systems and Medical Technology & Engineering Plastics. Climate Systems combine solutions for a healthy living room climate, offering a range of heating, ventilation and cooling devices, characterized by energy efficiency, that can be combined with renewable energies. Gas Flue Systems product portfolio includes, among others, plastic and metal exhaust systems for all types of heating and connection options. Medical Technology & Engineering Plastics develops, manufactures and markets medical devices and special plastics for applications in the medical, pharmaceutical and food industries. The firm is active globally.
CENTROTEC SE engages in the supply of heating and climate control technology for buildings. The company is headquartered in Brilon, Nordrhein-Westfalen and currently employs 3,239 full-time employees. The company specializes in air conditioning, heating and ventilation providing products and integrated system solutions. The company operates through three business segments: Climate Systems, Gas Flue Systems and Medical Technology & Engineering Plastics. Climate Systems combine solutions for a healthy living room climate, offering a range of heating, ventilation and cooling devices, characterized by energy efficiency, that can be combined with renewable energies. Gas Flue Systems product portfolio includes, among others, plastic and metal exhaust systems for all types of heating and connection options. Medical Technology & Engineering Plastics develops, manufactures and markets medical devices and special plastics for applications in the medical, pharmaceutical and food industries. The firm is active globally.
Revenue Growth: Centrotec reported Q3 revenue of EUR 179.7 million, up 4.9% from EUR 171.4 million last year, driven by strong performance in Germany and the Netherlands.
Profitability: EBIT rose to EUR 15.8 million from EUR 14 million, supported by lower travel and promotional expenses, and positive market conditions in core regions.
COVID-19 Impact: The pandemic had a mixed effect—cost savings boosted earnings, but international sales dropped as many European markets performed poorly.
Strategic Acquisitions: The company completed the acquisition of PARI Group, including a photovoltaics manufacturer and real estate assets for EUR 43.3 million equity purchase price.
Guidance Raised: 2020 revenue guidance raised to EUR 690–710 million and EBIT to EUR 43–46 million, reflecting strong core market performance and air purifier sales.
Heat Pump Growth: Heat pump sales doubled, now accounting for less than 10% of business but overtaking oil-based heating in importance.
One-off Opportunities: Air purifier sales expected to contribute significantly in Q4 and early 2021, but seen as a temporary COVID-related boost.
