Ariston Group: Despite the crash in the German heating market: Italian group does not regret billion gamble
The Ariston Group has made its largest acquisition in Germany. This has not yet paid off. Despite a decline in profits and stock market frustration, Group CEO Merloni is sticking to his course.
Paolo Merloni, the Italian entrepreneur behind the Ariston Group, expresses satisfaction with the new German heating law. He remarks, "Finally, the phase of uncertainty that weighed on the industry across Europe has come to an end." His company is among the world's largest manufacturers of climate technology, heating, and hot water systems.
The German market, with its substantial revenue potential, has become vital for the business. Just over four years ago, the group sealed its largest deal in history, paying a billion euros and shares in company assets for the German Centrotec Climate Systems (CCS). CCS includes brands such as the heat pump manufacturer Wolf or the room ventilator producer Brink.
Currently, Germany accounts for nearly 20% of the group's largest market. The German climate policy significantly influences the success of the Italian company, with the heating law introduced by former Economy Minister Robert Habeck playing a role, focused on renewable energies and heat pumps. Merloni later regrets, "You cannot transform an entire country to heat pumps in just three years."
The logistics, production, and training of employees by heating providers were insufficient to cope with the change.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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