Carel half-year revenue up 29%

ITALY: Refrigeration controls manufacturer Carel has recorded revenues of €261.3m in the first six months to June 30, a 29% increase compared to the same period last year.

This was the sixth consecutive quarter that Carel recorded double-digit percentage organic revenue growth.

Consolidated EBITDA was €56.1m, a 27.2% increase on the first six months of 2021.

Responding to the results, Carel Group CEO Francesco Nalini said that the global macroeconomic environment was seen as “challenging” for the foreseeable future.

“In addition to the shortage phenomenon, which has been accompanied by a significant and generalised increase in costs, there are signs of an economic slowdown that could be exacerbated by the restrictive monetary policies implemented by the Federal Reserve and the European Central Bank,” he said.