Carel achieves double-digit growth in Q3

ITALY: Refrigeration and heating controls manufacturer Carel has reported double-digit growth in Q3.

Compared to the same quarter last year, sales in the three months to September 30, 2025, grew 11.4% to €157.5m compared to the third quarter of 2024. The increase was 14% at constant exchange rates.
 
Carel Group CEO Francesco Nalini described its above expected result as “a milestone of great pride”, with the company recording its second consecutive quarter of double-digit organic revenue growth. 

“This is a collective achievement, supported by the contribution of all geographical areas and both of the main segments in which we operate.

“The HVAC segment once again proved particularly dynamic, with growth at constant exchange rates exceeding 14%, driven by outstanding performance in the data centre sector and by strong demand in strategic areas such as the commercial segment and heat pumps. 

“Refrigeration also delivered a very positive performance, showing double-digit growth and rapidly recovering from the temporary slowdown of the previous quarter.”