Carel reports record-breaking revenue

Results reported up to June 30, 2026, for the first six months of the year showed consolidated revenues of €370.1 million (approximately AUD$603.7 million). That is an increase of 20.9% compared to the same period in 2025.

Both the HVAC and the Refrigeration businesses areas contributed to the bonanza, which company leadership attribute to the strength of its business model and its capability to respond to key trends including energy efficiency, natural refrigerants and the development of high-value technology solutions.

“The second quarter of 2026 was the best in CAREL’s history,” Nalini says.

“This outstanding performance is even more significant when viewed against the economic and geopolitical backdrop in which it was achieved, and it confirms the Group’s ability to translate the key structural trends shaping its end markets into tangible growth opportunities.”

The company has also been implementing an external growth strategy involving relevant high value-added acquisitions. In July it acquired 100% of the share capital of Cotes, a specialist provider of desiccant dehumidification solutions.

Headquartered in Denmark, Cotes has been operating since 1986, specialising in design, development, production and commercialisation of desiccant dehumidifiers for industrial applications including wind energy, pharmaceuticals, electronics, food, refrigerated warehouses and battery production.

Nalini says the acquisition “represents another step in our strategy to strengthen our presence in highly specialised segments of climate control and energy-efficient solutions.”

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