CAREL: continuing growth in 2021

The CAREL Industries Board of Directors has approved the consolidated results as of 31 December 2021, with consolidated revenues of € 420.4 million, an increase of 26.8% compared to 2020 (+21.9% excluding the contribution deriving from the inclusion of CFM and Enginia).

Francesco Nalini, Group Chief Executive Officer, commented: “The year 2021 was characterised by different and contrasting phenomena. On one hand, the spread of the vaccine against COVID-19 prevented new closures of industrial and manufacturing plants and fuelled a strong recovery of the world economy. On the other, the shortage of raw materials, especially electronic materials, has halted global growth, which has also been put under pressure by the rise in inflation. This complex and sometimes contradictory context makes the results achieved by the Group, which derive first and foremost from the ongoing implementation of CAREL’s strategies of diversification, internationalisation and production mirroring, even more significant. These business strategies are indeed increasingly permeated by ESG elements, as we expressed in our first multi-year sustainability plan to 2024, published in December. Sustainability, however, is not only prospective but also current. Examining, in fact, the main company KPIs from 2021 through the lens of the “European Taxonomy”, it emerges that 60.4% of revenues analysed as well as 49.5% of total investments were green-focused, i.e. they are not only eligible for but also perfectly aligned with the regulations. Sustainability, efficiency and resilience, combined with the enthusiasm that the women and men of CAREL have always shown, will therefore be the main elements to face future challenges”.