The 2024 financial statements of the Immerfin Group confirm the position of the holding company, controlled by the Amadei and Carra families, among the key players in innovation in home climate systems focused on sustainability and energy savings.
«In the year of the sixtieth anniversary of its foundation (1964) and just shy of 10 million boilers sold worldwide, Immergas has maintained its positions, improving in some markets that will prove crucial in the coming years,» said Alfredo Amadei, Chairman of the Immerfin Group. «The increase in sales volumes has made it possible to maintain a high level of investments that, year after year, have allowed us to anticipate market trends, with bold choices such as the Hybrid Change (hybrid systems), which today represent a decisive step forward in the delicate transition towards more innovative and more sustainable home climate systems.»
The consolidated financial statements of the Immerfin Group – which in addition to the parent company Immergas includes the manufacturing companies Immergas Europe in Poprad (Slovakia), Immergas Heating Equipment Changzhou in China, King Heating Products in Canada, and the worldwide network of commercial and service subsidiaries – reported a turnover of 373.9 million euros.
The main profitability indicators remained at levels that supported the investment plan and the Group’s management: EBITDA (gross operating margin) of 49.3 million euros and a consolidated net profit of 38.7 million euros.
«Our benchmark is the solid commercial organization that Immergas has built over sixty years of development - Amadei added - allowing us to weather the less favourable phases of the domestic climate market. Despite a double-digit decline in the market, the gas boiler sales of the Immerfin Group showed a positive trend, remaining in line with the volumes recorded in the previous financial year and marking a significant increase in market shares. This result was achieved despite the European regulatory framework, increasingly focused on limiting the sale of fossil-powered appliances. As a consequence, there has been a significant drop in demand in the main markets for gas boilers, coupled with a decline in the market for hydronic heat pumps used for heating and air conditioning, due to the reduction of incentive mechanisms.»
The number of Group’s employees continues to be more than one thousand, with over 600 people at the main hub in Lentigione di Brescello (Reggio Emilia). The other manufacturing units, currently undergoing further development, are located in China (about 50 employees) and in Slovakia (about 150 employees).
The investment plan launched by the Immerfin Group to remain highly competitive involves investments in manufacturing sites in Italy and abroad, together with the consolidation of its network of commercial companies. In 2024, the extent of the consolidation of the Immerfin Group changed following the increase to 80% of its share in Immersat, a Portuguese company with its headquarters in the Braga district.
2025 is shaping up to be a year of significant changes in the global economic landscape: the Eurozone is showing complex dynamics, China is experiencing a slight improvement, while trade tensions and the tariffs imposed by the United States represent a factor of global instability.
«In this evolving scenario - Amadei concluded - at the end of the first semester the main companies of the Group recorded a slight increase in revenue, supported by the positive contribution of sales in foreign markets, with particular reference to Eastern Europe, an area where, after years of gradual reduction, concrete signs of a recovery in demand are beginning to emerge.»
