Viessmann has continued its path of consistent growth for the third consecutive year, reporting global sales of EUR 2.65 billion, an increase of 6.4 percent, in 2019. The business grew by 5 percent in both 2017 and 2018.
Seamless climate solutions
Under the leadership of Prof. Dr. Martin Viessmann as Chairman and Max Viessmann as Co-CEO, the family business is progressing its strategic transformation from a traditional heating manufacturer to a provider of integrated solutions for living spaces.
Viessmann develops seamless climate solutions to provide living spaces with the desired temperature, warm water, energy, and good quality air.
“Based on our ability to act quickly, to make unbureaucratic decisions, and to apply a long-term investment philosophy, Viessmann successfully continued the growth journey that we embarked upon four years ago. The foundation of our strategy is and remains profitable growth,” says Dr. Ulrich Hüllmann, Chief Financial Officer of the Viessmann Group.
Increasing efficiency
In 2019, the Viessmann Group achieved double-digit percentage growth most notably in China, Eastern, and Southeastern Europe and North America, but also in Finland, Sweden, the Netherlands, and Austria.
In terms of products, the trend toward high-efficiency heat pumps continued in 2019 with a sales increase of approximately 24 percent. At the same time, fuel cell heating systems delivered a positive performance with an increase of 25 percent.
“Heat as a service” offering
Viessmann’s Refrigeration Solutions business recorded the highest growth increase of 15 percent last year
Another growth highlight was the innovative “heat as a service” offering (renting instead of purchasing a heating system) with a dynamic growth rate of more than 100 percent.
Viessmann’s Refrigeration Solutions business recorded the highest growth increase of 15 percent last year.
In 2019, Viessmann Investment, a business area within the Viessmann Family Holding, completed the following strategic acquisitions and investments:
- Etherma Elektrowärme GmbH, a supplier of electric panel heating systems, from Austria,
- Pewo Energietechnik GmbH, a leading solutions provider for local and district heating networks with headquarters in Germany,
- LämpöYkkönen Oy, a full-service provider of heat pumps, headquartered in Finland,
- Kospel S.A., a provider of power-based heating and hot water solutions with headquarters in Poland, and
- Digital Energy Solutions GmbH & Co KG, a provider of holistic solutions for cross-sector energy management in the areas of electricity, heating, and mobility with headquarters in Germany.
Innovative services
Viessmann intends to achieve continued dynamic growth, both organically, by providing innovative climate solutions and digital services in selected growth markets, as well as through targeted acquisitions.
“The combination of energy and building transition and digitalization present our biggest opportunities in the company’s history. Given climate change, we must all ask ourselves the question of how much we want to do today for the generations of tomorrow. How do we create and maintain living spaces for our children and grandchildren? Climate protection is not a question of technological possibilities, but sheer will, and for this, we need courage – in society, in industry, and politics. With responsibility and courage we will continue to shape the future of our family business,” says Max Viessmann.