19 November 2025
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Italian controls specialist CAREL has reported consolidated revenues of €157.5 million for the third quarter of 2025, up 11.4% compared to the third quarter of last year and up 14% at constant exchange rates.
Francesco Nalini, Chief Executive Officer of CAREL Group, said: "For the second consecutive quarter, we recorded double-digit organic revenue growth (+14%), slightly above our forecasts, demonstrating the strength and cohesion of the entire organisation. This is a collective achievement, supported by the contribution of all geographical areas and both of the main segments in which we operate: HVAC and refrigeration.
"The HVAC segment once again proved particularly dynamic, with growth at constant exchange rates exceeding 14%, driven by outstanding performance in the data centre sector and by strong demand in strategic areas such as the commercial segment and heat pumps. Refrigeration also delivered a very positive performance, showing double-digit growth and rapidly recovering from the temporary slowdown of the previous quarter. The strong rebound observed in Europe confirms the robustness of our competitive position and the effectiveness of the strategy undertaken.''
