Zehnder Group

Zehnder Group reports H1 2026 sales of €395m, up 3% (currency-adjusted +4%), beating the consensus expectation of 1% growth. Adjusted EBIT rose 15% to €37.7m, with the adjusted EBIT margin improving to 9.5%, about 9% above consensus estimates. The ventilation division grew 7% to €272m with a margin of 13.9%, while the radiator division fell to €123m and showed an almost break-even adjusted EBIT margin of 0.1%. Operating cash flow and free cash flow deteriorated significantly due to inventory build-up; the full-year guidance foresees sales of €770–790m and an adjusted EBIT margin of around 9.5%. » Mere på de.investing.com

Zehnder Group will switch to a divisional organizational structure as of 1 October 2026: Europe will be split into residential ventilation, radiators and newly commercial ventilation; North America, Asia, Clean Air Solutions and heat exchangers will remain unchanged. The group management will shrink from six to five members; Silvia Witschi will become a member of the group management as of 1 July 2026 and take over residential ventilation Europe, Jörg Metzger will take over radiators Europe. Dorien Terpstra and Johannes Bollmann will leave the company after handover, at the latest by the end of 2026. For 2026 Zehnder expects one-off costs of around EUR 10m; medium-term substantial efficiency gains are anticipated and the targets of approximately 5% annual revenue growth and an EBIT margin of 9–11% are reaffirmed. » Mere på de.investing.com

At the annual general meeting, Zehnder A approved a dividend of CHF 1.40 per share for 2025; a total of CHF 11.06 million will be distributed. The dividend per share thus rose by 40% versus the prior year, while the total distribution fell by 24.61%. The dividend yield for 2025 is 1.71% (previous year 2.21%), the stock is trading ex-dividend and the payout will be made shortly. FactSet analysts expect a dividend of 1.87 for 2026 (currency in the report: EUR) and an assumed yield of 2.46%. » Mere på finanzen.net