STIEBEL ELTRON exceeds one billion turnover as demand for heat pump grows

STIEBEL ELTRON has reached a milestone in its company history as its annual turnover exceeded one billion euros after just eleven months. 

In the past 5 years STIEBEL ELTRON has more than doubled its turnover, seeing record-breaking increases consecutively for each year since 2017. 

From €550 million in 2018, turnover climbed to €594 million euros in 2019 and €700 million euros in 2020. Last year, it was €830 million euros, and now the billion has been reached.

The most recent milestone is an indication of a strong market and shows continuous and growing demand for heat pumps, STIEBEL ELTRON  Managing Director Mark McManus said.

To meet this demand, STIEBEL ELTRON is committed to seeing trained installers become industry leaders by providing them with a package post-training which ensures that high-quality, technical support is available to them at all times. 

Dr. Kai Schiefelbein, Managing Director of STIEBEL ELTRON, said: “This is a great success that everyone in the company can be proud of. The increase is of course largely due to the enormous growth in heat pump sales, but all the other product groups also played their part in the success."

 "Of course, we are currently benefiting greatly from the global political situation with our portfolio, and yet it is just as much a truth that far-sighted decisions in the past, especially the consistent adherence to the environmentally friendly heating system heat pump and thus the focus on renewable energies, as well as investments in technology and production were and are the basis for this success."