Carel, refrigeration controls and humidification company, has witnessed growth in sales in 2019 by registering a 16.8 per cent increase to €327.4m. Further, the company reported the growth of 5.1 per cent with revenues of €292.3m.
The company noted the consolidated EBITDA of €63.1m that was up 34.4 per cent as compared to 2018. Group CEO Francesco Nalini described the results as being even more significant in light of the unfavourable macroeconomic scenario characterised by the slowdown in the European economy and trade tensions between the US and China. He described the performance as particularly positive and reflected the company’s continuous implementation of multiyear strategic guidelines.
Carel has acquired Hygromatik and Recuperator in 2018. The company has planned to complete its expansion of production capacity in two years with investments of approximately €20m. The integration of Hygromatik and Recuperator allowed Carel to achieve a cumulative growth in revenues of around 10 per cent as compared to the previous year and the signing of the first multi-year contracts for the supply of digital services to important international supermarket chains.
