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Carel sees Q1 sales rise 19.5%

Francesco Nalini: favourable performance in all areas

ITALY: Carel reports consolidated revenues of €80.10m, up 19.5% compared to the first quarter of 2018.

The consolidated net result of €8.9m, was an increase of 8.4% compared to the first quarter of 2018.

Francesco Nalini, Group CEO, attributed the increase to the company’s capacity to exploit “important cross-selling and up-selling options” made possible by the continuous innovation of its product platforms, together with the contributions of the two companies it acquired at the end of 2018 – Hygromatik and Recuperator.

Carel says it saw favourable performance in all geographical areas (EMEA, Asia Pacific, North America and South America) and in all segments (HVAC and refrigeration).

Related stories:

Carel buys humidifier company HygroMatik3 December 2018
ITALY: Controls and humidifier company Carel has completed its second acquisition in 10 days with the purchase of German humidifier manufacturer HygroMatik GmbH. Read more…

Carel buys Italian heat exchanger firm26 November 2018
ITALY: Refrigeration controls and humidification company Carel has acquired the entire share capital of Recuperator SpA, an Italian manufacturer of air-to-air heat exchangers. Read more…

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