Viessmann Group announces record EUR 4 billion revenue and 19% growth
Allendorf, Germany – The Viessmann Group continued to grow in 2022, increasing its total revenue to EUR 4 billion, an increase of 19% over 2021’s turnover of EUR 3.4 billion. In its 105th anniversary year, the family company grew from 13,000 to 14,500 employees.
The positive results reflect the company’s strong strategy and resilience across its divisions, which include climate solutions (heating and cooling), refrigeration & clean rooms, investment, venture capital investment, real estate, and the Viessmann Foundation (social responsibility).
Prof. Dr. Martin Viessmann, Chairman of the Board of Directors of Viessmann Group, said: "2022 marked an important milestone in our company history, as we once again demonstrated what Viessmann stands for. In any challenge, we see an opportunity for positive change and growth. Today, Viessmann is very well positioned to make the best possible use of the once-in-a-century opportunities that lie ahead of us. We will continue to focus on accelerating the energy transition in the building sector, in order to make a measurable contribution in the fight against climate change."
Max Viessmann, CEO of the Viessmann Group: "In our 105th anniversary year, we have taken additional responsibility by facing the crises and challenges. As enablers of the independent energy transition, we were able to expand our renewable, green climate solutions and broaden our ecosystem of co-creators on a global level. In addition to the responsibility for our own family members, we have also extended our social responsibility for those who are suffering most from the terrible war in Ukraine. In an unprecedentedly challenging year, we have consistently followed our purpose – with everything we do: creating living spaces for generations to come."
The growth of Viessmann’s climate solutions division was accelerated in particular by the high demand for renewable technologies including heat pumps with natural refrigerants, biomass, solar thermal, electric storage, heat generators powered by green gases and liquid green fuels, as well as air purification solutions and digital services.
In May 2022, the family company announced its plans to invest EUR 1 billion in the expansion of green climate solutions. As a result, the company has expanded heat pump development capacity and almost doubled the number of employees in this area. Construction of a new heat pump site in Poland has started.
Last year, Viessmann launched a new generation of heat pumps, the Vitocal-150-A/-250-A, as well as the in-house developed VitoCharge battery storage unit* and a new Viessmann Invisible* compact packaging solution for heating and cooling technologies.
Thomas Heim, CEO of Viessmann Climate Solutions: "Viessmann supports European climate targets to reduce CO2 emissions by at least 55 percent by 2030. An important pillar to reach this goal will be the total number of installed heat pumps in the future. We are therefore proud to have made tangible, solid steps forward in 2022, continuing our own transformation.”
In addition to strong organic growth, Viessmann was able to expand its market position through strategic acquisitions and new partnerships with mid-sized companies, adding broader geographic coverage and new, complementary routes to market.
These include an investment in 0800-Repair, the service company in the UK, which specialises in the maintenance of heat pumps; a strategic partnership with Aqotec, a leading Austrian full-service provider of district heating solutions; and an investment in the Canadian indoor air specialist, Nu-Air.
Through its venture capital investment division, Viessmann is actively involved with more than 30 early-stage technology companies, facilitating knowledge-sharing between them. An example is PowerUs, a digital matching platform that enables installers to quickly find highly qualified electronics technicians and plant mechanics to address the acute shortage of skilled staff members.
In the particularly challenging year of 2022, the Viessmann family company once again demonstrated the extent to which social responsibility is a core part of its purpose to a) create living spaces and b) focus on generations to come:
Among initiatives promoting environmental protection and charitable causes in its home market of Germany, the company donated EUR 5 million to charities supporting Ukrainian people who urgently needed help and solidarity during winter. More than half of the money was given to aid projects that support children and families in and from Ukraine in their time of need, including donations to the three major organisations, Aktion Deutschland hilft, Unicef, and Save the Children.
* These products will be available in the UK in 2024.