Carel reports 2025 growth figures
Carel has posted 9.4% revenue growth in the first half of 2025, driven by strong HVAC demand and regional recoveries in Europe, APAC, and North America.

The company’s board of directors has released its consolidated results for the first half of 2025, reporting revenues of €158.8 million – a 9.4% increase compared to the same period in 2024, and 11.3% at constant exchange rates. Consolidated EBITDA reached €58.3 million, up 9.5% year on year, representing 19% of revenues.
Carel CEO Francesco Nalini says the second quarter results are “a particular source of pride” and reflect “the solidity of our operating model” despite a challenging macroeconomic environment.
The company says growth in the HVAC segment, especially in commercial air conditioning, has been a key driver. The residential sector, particularly heat pumps in the EMEA region, have also shown signs of improvement.
Check out Carel’s profile on HVAC&R Search.
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