The Viessmann Group is to invest EUR 1 billion over the next three years to extend its heat pump and green climate solutions portfolio.
The investments are targeted to expand the family company’s manufacturing footprint and R&D labs. They will also help to strengthen Europe’s geopolitical energy independence.
Growth due to demand for heat pumps
Despite the negative effects of the pandemic and challenged global supply chains, the total revenue of the Viessmann family business reached a new record high of EUR 3.4 billion in 2021 (previous year: EUR 2.8 billion).
The significant growth rate of +21 percent was driven predominantly by increasing demand for premium heat pumps, sales of which jumped +41 percent.
Energy efficiency
Our historic investment decision comes at a time where we build the right foundation for the next 105 years"
Prof. Dr. Martin Viessmann, Chairman of the Board of Directors of Viessmann Group, said, “For more than 105 years, our company has been a family for positive change with a clear focus on energy efficiency and the development of new technologies such as the first heat pump generation in the the the 1979.”
“Our historic investment decision comes at a time where we build the right foundation for the next 105 years for us and, even more importantly, for generations to come.”
Increased investments
Max Viessmann, CEO of Viessmann Group, said, “Unprecedented geopolitical developments need unprecedented decisions. We all need more speed and pragmatism to fight climate change and to re-think energy generation and use for tomorrow, to strengthen Europe’s geopolitical independence.”
“Consequently, we are now accelerating our growth with dedicated investments in heat pumps and green climate solutions. At Viessmann, all 13,000 family members are relentlessly committed to co-creating living spaces for generations to come.”
Viessmann’s ONE BASE
Viessmann’s ONE BASE networks Viessmann’s products and systems and connects them with digital services
The group’s overall growth in 2021 was primarily driven by its largest business area, Climate Solutions, where the shift towards integrated climate solutions continued to pay off.
A significant milestone, designed to support and grow the company’s installer partner base, is the launch of Viessmann’s ONE BASE, a new integrated software platform, which networks Viessmann’s products and systems and connects them with digital services, including all heating products, home battery storage, green gases and fuels, ventilation solutions and digital & value-added services.
Increased acquisitions
In addition to organic growth, the Viessmann Group also successfully managed to grow via acquisition in 2021, extending its family business-oriented partnerships in electric heating, district heating, after-sales services, and building automation.
Viessmann became a shareholder in the leading heating, ventilation, and air conditioning service company Value Added Engineering in Australia; acquired Pacifica Home Services, an installation/service platform with a focus on heat pumps in the UK; acquired Elektrotermex, a district heating specialist in Poland; and joined forces with the climate company Priva in the Netherlands, entering the smart horticulture and building automation sector.
Sustainability Strategy: SBTi certification
SBTi certification confirms the implementation of the sustainability and climate strategy
Viessmann is fully committed to its climate strategy, recently receiving official approval and confirmation from the renowned Science Based Targets Initiative (SBTi) for its published goals to reduce the carbon footprint for its operations and its entire value chain.
The SBTi certification confirms that the implementation of the sustainability and climate strategy is contributing positively to the overall goal of limiting global warming to 1.5 °C, according to the Paris Agreement.
‘LEAP to net-zero’ strategy
Alix Chambris, Vice President of Global Public Affairs and Sustainability, said, “Aligning our strategy with climate science is an expression of our strong responsibility and commitment.”
“With our ‘LEAP to net-zero’ strategy, we empower our global family and partners to drive positive change together. Climate action has never been more relevant in today's geopolitical context.”
Response to war in Ukraine
In light of the Russian invasion of Ukraine, and despite negative effects on its Eastern European business, the global Viessmann family has demonstrated sustained and strong solidarity.
Within just a few weeks, the company organized transportation, accommodation, medicine, material donations, and new jobs in Viessmann facilities for Ukrainian people seeking refuge in Poland, Romania, Hungary, Slovakia, and Germany.
Competitive advantage
Viessmann members collected donations, which were doubled by Viessmann Family Foundation to total over EUR 1.2 million
Additionally, Viessmann family members across the globe collected donations, which were doubled by the Viessmann Family Foundation to total over EUR 1.2 million, for social and charity organizations.
Frauke von Polier, Chief People Officer of Viessmann Climate Solutions, said, “The great solidarity and team orientation we have witnessed in the last years, and especially in the last few weeks are simply overwhelming. This sense of responsibility signifies our strong culture ultimately the greatest competitive advantage in a dynamically changing world.”
Refrigeration Solutions
Viessmann’s Refrigeration Solutions business also contributed positively to the Group’s strong growth in 2021. The refrigeration, climate, and building automation solutions areas have been combined, as have installation and after-sales services.
Increased synergies, especially in food retail, indoor farming, and health care, helped the expansion of the business.
Cooling solutions
An important innovation has been the amplification of intelligent cooling solutions based on a heat pump at the heart of the system. This generates both the required refrigeration capacity and climatization power for the building, thereby eliminating the need for additional, separate climate or heating units.
Frank Winters, CEO of Viessmann Refrigeration Solutions, said, “Creating future-proof solutions has always been part of Viessmann’s DNA. By bringing together industry-leading cooling solutions with best-in-class heating and building automation, we have taken a major step towards more energy efficiency and a new level of sustainability for our customers.”
