Viessmann Group Announces Its Plan To Invest 1 Billion Euros In Its Heat Pumps & Green Climate Solutions Portfolio

The Viessmann Group announced that it will invest 1 billion Euros in 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, thereby also strengthening Europe’s geopolitical energy independence.

Prof. Dr. Martin Viessmann, the 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 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 important, for generations to come.”

Speed and pragmatism to fight climate change

Max Viessmann, the Chief Executive Officer (CEO) of Viessmann Group, said “Unprecedented geopolitical developments need unprecedented replies. We all need more speed and pragmatism, in order to fight climate change and to re-think energy generation and use of tomorrow, in order to strengthen Europe’s geopolitical independence.”

Max Viessmann adds, “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.”

Strong Growth in 2021

The Viessmann Group’s total revenue in 2021 reached a new record high of 3.4 billion Euros

The latest business development of the Viessmann Group underlines the strong product-market-fit in its green climate solutions. Despite negative effects from the COVID-19 pandemic and challenged global supply chains, the family business successfully managed to grow significantly in another year of crisis.

The Viessmann Group’s total revenue in 2021 reached a new record high of 3.4 billion Euros (previous year: 2.8 billion Euros). The significant growth rate of +21 percent was especially driven by an increasing demand for premium heat pumps, which jumped +41 percent.

Dr. Ulrich Hüllmann, the Chief Financial Officer (CFO) of the Viessmann Group, said “Our outstanding financial performance underlines our commitment to profitable growth and our strategic target picture for 2025. The course we have taken since, keeps paying off – despite multiple global challenges.”

Viessmann family with responsibility and solidarity in crisis

In light of the brutal attacks from Russia in Ukraine, which started on 24 February 2022, and despite negative effects on the Eastern European business, the global Viessmann family keeps showing strong solidarity.

Within a few weeks only, the company organized transportations, accommodations, medicines, material donations and new jobs for Ukrainian people seeking refuge in the Viessmann facilities in Poland, Rumania, Hungary, Slovakia and Germany. Additionally, all family members across the globe collected donations, which were doubled by the Viessmann Family Foundation, reaching a total over 1.2 million Euros, dedicated to support social and charity organizations.

Frauke von Polier, the 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.”

Climate Solutions

The Viessmann Group’s overall growth in 2021 was primarily driven by its largest business area - Climate Solutions

The Viessmann 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 in enabling the company’s large installation partner base was the launch of Viessmann’s ONE BASE, a new integrated platform, which includes all climate solutions out of one hand: from heat pumps with new natural refrigerants, district heating, solar thermal heating, home battery storages, biomass solutions, green gases and fuels, to ventilation solutions, and digital & value-added services.

Viessmann’s integrated solutions offering

Thomas Heim, the Deputy CEO, Chief Sales and Chief Marketing Officer of Viessmann Climate Solutions, said “Today, we are ideally positioned to capture further growth and market share through our integrated solutions offering. Going forward, we will continue to embark this journey in close alignment with our installation and service partners as well as our users. Because, in the end, we can only succeed if we all move into ONE direction.”

Dr. Markus Klausner, the Chief Technology Officer (CTO) of Viessmann Climate Solutions, said “Viessmann ONE BASE enables green climate solutions, seamlessly connecting all required solution components. The new investments in R&D and manufacturing underline our commitment to become the leading global, premium climate solutions company.”

Refrigeration Solutions

The Refrigeration Solutions business area also contributed positively to the Group’s strong development in 2021, especially by the smart combination of refrigeration, climate and building automation solutions as well as installation & after sales services. The business area was able to use more synergies and expand its business, especially in food retail, indoor farming and health care applications.

Creating future-proof solutions has always been part of Viessmann’s DNA"

An important innovation is the amplification of intelligent cooling solutions based on a heat pump, at the heart of the system, to both generate the needed refrigeration capacity, as well as the needed climatization power for the building, thereby eliminating the need for additional, separate climate or heating units.

Frank Winters, the Chief Executive Officer (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.”

Viessmann Investment

Alongside its organic growth, the Viessmann Group also successfully managed to grow by recent acquisitions, extending its family business-oriented partnerships in electric heating, district heating, after sales services & building automation.

By becoming a shareholder in the leading heating, ventilation and air conditioning service company Value Added Engineering, Viessmann established its presence on the Australian continent. With the acquisition of Pacifica Home Services, a global installation/service platform with a focus on heat pumps, Viessmann strengthened its presence in the United Kingdom.

Extended district heating activities in Poland

Additionally, the family company also extended its district heating activities in Poland, by acquiring Elektrotermex. Moreover, Viessmann joined forces with the leading climate company - Priva in the Netherlands, entering the smart horticulture and building automation sector.

Timo Tauber, the Managing Director of Viessmann Investment, said “The question of whether companies will or won’t be successful in the future lies in their willingness to co-create. Only through co-creation, we will be able to jointly tackle the climate challenges ahead of us. And only with the right partners and the right cultural fit. As a family company, we have the privilege and honor to closely work with many other leading family companies all across the globe in order to jointly grow beyond ourselves.”

Sustainability Strategy: SBTi certification confirms commitment

The company also remains fully committed to its industry-leading sustainability commitment

In addition to Viessmann’s plans to heavily invest into the expansion of its heat pump portfolio and green energy solutions, the company also remains fully committed to its industry-leading sustainability commitment.

Recently, the family business received official approval and confirmation from the renowned Science Based Targets Initiative (SBTi) for its published goals to reduce the carbon footprint for its own operations and its entire value chain.

Implementation of the sustainability and climate strategy

The SBTi certification confirms that the implementation of the sustainability and climate strategy are contributing positively to the overall goal of limiting global warming to 1.5 °C, according to the Paris Agreement.

Alix Chambris, the Vice President Global Public Affairs and Sustainability at Viessmann Group, 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 todays’ geopolitical context.”