Carel sees sales rise 13.5%
ITALY: Controls and humidification company Carel has recorded a 13.5% increase in turnover in the year to December 31, 2016.
These latest results build on last year’s performance which showed a 12.8% increase on 2014.
Sales totalled €231m in 2015 with positive trends in all business areas. Export sales were driven by Europe and accounted for 80% of the Group total. Asian markets also performed well, registering an 8% increase.
“The focus of our innovation continues to be improved efficiency and sustainability in the air-conditioning and refrigeration sectors”, commented Francesco Nalini, Carel Group managing director.
“Our growth in 2016 is the result of the most innovative solutions in these areas, and shows how our R&D efforts are focused in the right direction. We have also seen very positive results from our systems designed for new refrigerants with a low environmental impact, especially natural refrigerants.
“In 2017 we intend to continue investing in all of these solutions, with even greater attention to connectivity, envisioning the added value we can offer our customers through machine learning algorithms”.
The growth in 2016 was accompanied by an increase in staff numbers, with 132 new employees bringing the total to 1222. This included a significant increase in employment at the new Carel manufacturing site in Croatia, inaugurated in 2016, from 18 to 76 people.
In 2016, 6.4% of sales were invested back into R&D, a 4.6% increase over 2015.
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