German HVAC giant Vaillant Group saw modest revenue growth of around 2 per cent in 2008 from €2,388 billion in 2007 to €2,438 billion. Operating profit before interest and tax rose 14 per cent from €175 million in 2007 to €199 million in 2008.
Announcing the results at Ish, Vaillant Group managing director Ralf-Otto Limbach said the company’s focus on energy efficient systems and a comprehensive service offer had helped it in an “extremely difficult environment”.
The manufacturer highlighted increased sales of renewable equipment as particularly encouraging, with sales growth of 55 per cent in heat pumps and 60 per cent in solar thermal installations reported.
The Vaillant Group also announced expansion achieved in the USA and Asia, as well as a deal with Honda to develop gas-fired heat-power installations for the European market.