08 August 2023
Italian controls and humidification specialist Carel reported a 26.4% increase in revenues to €330.3 million for the first half of this year, compared to the first six months of 2022.
Carel Group CEO Francesco Nalini said: “It is with great pride that I emphasise not only that the quarter just ended represents the 10th consecutive quarter in which the group has recorded double-digit percentage organic revenue growth, but that the revenues achieved as at 30 June are substantially comparable to those of the entire year 2020 (in turn up on the previous year), thus representing a doubling of turnover in just three years.
"The consistency of said performances, achieved in the presence of often diverse scenarios characterised by sudden changes, confirms the resilience of the company's business model, based on a continuous process of internationalisation and expansion into adjacent market niches, also thanks to the 11 M&A transactions carried out since its listing. And in fact, if we include the contribution from the newly acquired companies, revenue growth to 30 June exceeded 26%.''