CAREL Industries reported consolidated revenues of €370.1 million for the first half of 2026, up 20.9% compared with the same period in 2025. At constant exchange rates, revenue growth was 23.0%.
Growth was recorded across the Group’s HVAC and Refrigeration businesses. CAREL linked the performance to trends including energy efficiency, natural refrigerants and the development of high-value technology solutions.
During the first half, CAREL also continued its external growth strategy by signing the acquisition of Cotes. The transaction is intended to strengthen the Group’s expertise in humidity control and expand its portfolio for HVAC, refrigeration and industrial applications.
“The second quarter of 2026 was the best in CAREL’s history, with revenues approaching €200 million and growth exceeding 25% compared with the same period last year,” said Francesco Nalini, Group Chief Executive Officer. “This outstanding performance is even more significant when viewed against the economic and geopolitical backdrop in which it was achieved, and it confirms the Group’s ability to translate the key structural trends shaping its end markets into tangible growth opportunities.”