Viessmann: The latest figures, news and market research on Viessmann

Turnover: 3.8 billion EUR (2021)

Country: Germany

One of Europe's leading manufacturers of boilers and air conditioning and heating systems
Family-owned Viessmann with 13,000 employees in 74 countries
Develops and produces integrated climate and energy solutions for people and companies
22 production subsidiaries in 22 countries
68 distribution subsidiaries in 31 countries
56% of sales outside Germany

Viesmann: "We need transatlantic partnerships more than ever" 22/05/2023

Group's core business (85% of sales) sold to Carrier
After the merger of the climate solution division with Carrier, the Viessmann Group will still generate sales of around one billion euros and employ almost 4,000 people
Viessmann becomes Carrier's largest individual shareholder with over 7% of the capital.
Agreement excludes all redundancies for three years and guarantees the maintenance of the main sites for at least five years.
Global competitors 200 to 300 times larger than Viessmann.
Energy-intensive German industry weakened by the energy crisis.
Competitive disadvantage between electricity prices for industry in France and Germany.

Viessmann sells its heat pump business to its main competitor 28/04/2023

Viessmann sells 85% of its "climate solutions" division to Carrier Global for 12 billion euros.
Viessmann generates sales of 4 billion euros.
The European heat pump market is expected to triple by 2027, from 5 to 15 billion euros.
The two companies combined will generate total sales of over $17 billion, with around 45,000 employees.
Carrier takes control of a network of 25,000 installers in 25 countries.
Berlin aims to install 500,000 heat pumps a year
10,500 employees work in the Viessmann Climate Solutions division.

Viessmann acquired by Carrier 25/04/2023

Heat pumps account for 85% of Viessmann's sales.
Viessmann's valuation under the Carrier deal would be $13 billion, including debt.
In 2022, Carrier's sales were $20.4 billion, 60% of which were generated in the United States.
Viessmann achieved sales of 3.4 billion euros in 2021, 56% of which outside Germany.
The number of heat pumps (air-to-air) in the United States jumped by 40% between 2019 and 2022, with 4.3 million units delivered.
The Inflation Reduction Act (IRA) provides a tax credit to US households of up to $2,000, to cover 30% of the acquisition cost of heat pumps until the end of 2032.

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