Ziehl-Abegg closed 2024 with revenues of €893 million (approx. USD 967 million), a year-on-year decline of about 7 percent from €955 million in 2023. The downturn was most severe in Germany, where revenues fell by more than 20 percent. Other European markets also underperformed. However, growth in North and South America, along with a slight increase in Asia, partially offset the losses.
Incoming orders picked up significantly at the end of the year, driven by rising demand for high-efficiency fans in data centers, particularly in the U.S. and Asia. “Growth in the Americas and Asia unfortunately wasn’t enough to offset the downturn in Europe,” said CEO Joachim Ley.
The air technology division continued to dominate the company’s revenue, contributing 90 percent, while drive technology accounted for the remaining 10 percent.
Despite the weak economic performance, Ziehl-Abegg expanded its workforce globally. The total number of employees rose from 5,000 to 5,300, mainly outside of Germany. Domestic staffing remained stable at 2,800. In Germany alone, more than 200 temporary workers were added in early 2025.
Cost control remained a focus as the company pursued significant investments. In August, Ziehl-Abegg opened its largest-ever facility in the U.S., with a capital expenditure of €100 million (approx. USD 108 million). Earlier in the year, a new plant began operations in Vietnam. Another plant in Poland, completed at the end of 2023 to support the heat pump market, has not yet met expectations. “Long transport routes drive up costs and make little sense ecologically,” noted Ley.
Looking ahead, the company is optimistic. With strong demand from the data center sector and a growing focus on energy-efficient cooling technologies, Ziehl-Abegg expects solid growth in 2025. While it does not publish profit figures, the company acknowledged that 2024 was economically disappointing.
“The company is globally positioned for growth – we’ve done our homework,” said Ley.