CAREL reports double-digit revenue growth in the third quarter of 2025

BRUGINE, Italy, November 18 2025: CAREL said its Board of Directors has approved the consolidated results as of September 30 2025. Making the announcement through a Press Release, CAREL said the consolidated revenues in the third quarter amounted to EUR 157.5 million, an increase of 11.4% compared to the same period in 2024 and up 14% at constant exchange rates.

Francesco Nalini, CEO, CAREL said: “The results achieved in the third quarter of 2025 represent a milestone of great pride for the entire Group, confirming the solidity and resilience of our business model, as well as CAREL’s ability to continue creating value in a complex global context. For the second consecutive quarter, we recorded double-digit organic revenue growth (+14%), slightly above our forecasts, demonstrating the strength and cohesion of the entire organisation. This is a collective achievement, supported by the contribution of all geographical areas and both of the main segments in which we operate: HVAC and Refrigeration.”

Nalini said the HVAC segment showed growth with constant exchange rates exceeding 14%, which he attributed to outstanding performance in the data centre sector and strong demand in strategic areas such as the commercial segment and heat pumps. He added that the refrigeration segment also delivered a positive performance, showing double-digit growth and rapidly recovering from the temporary slowdown of the previous quarter. The company said the rebound observed in Europe confirms the robustness of its competitive position and the effectiveness of the strategy undertaken.

Nalini said: “The results have been extremely positive but, as is always the case for CAREL, they do not represent an end point but rather a new starting point. We will continue to pursue continuous improvement with the determination and enthusiasm of the women and men who work at CAREL, ready to face with confidence the business and geopolitical challenges that the future holds.”