CENTROTEC SE: Year-end rally leads to increase of annual forecast 2020
This strong year-end rally is possibly the consequence of pre-emptive attempts to secure benefits of the reduced VAT-rates in Germany along with turnover of the new air-purifiers. In addition, the tightened restrictions on social distancing during the second wave of the Corona-pandemic have led to a significant reduction of travel and hospitality expenses in the period before Christmas.
CENTROTEC SE enjoys a presence in around 50 different countries through subsidiaries and sales partners. The principal group companies are Wolf, Brink Climate Systems and Ned Air in the Climate Systems segment, specialising in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, CHP units and home ventilation systems with heat recovery, as well as Ubbink and Centrotherm in the Gas Flue Systems segment, with their focus on gas flue and air piping systems. CENTROTEC is consequently Europe's only listed full-service provider of heating and climate control technology, solar thermal systems and energy-saving solutions for buildings.