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The year 2024 posed major challenges, but the outlook is bright: By the end of the year, Ziehl-Abegg recorded a noticeable uptick in incoming orders. A key driver behind this momentum is the construction of new data centers – most notably in the U.S., but also in Asia. This positive development is also reflected in staffing: Since the start of the year, more than 200 temporary workers have been added in Germany alone.
Ziehl-Abegg reported revenues of €893 million for 2024, a drop of roughly 7 percent compared to the previous year (€955 million in 2023). The downturn was particularly pronounced in Germany, where revenues declined by over 20 percent. Other European markets also fell short of expectations. In contrast, business in the Americas (North and South America) saw strong growth, and Asia posted a modest increase. “Growth in the Americas and Asia unfortunately wasn’t enough to offset the downturn in Europe,” says CEO Joachim Ley. The air technology division once again generated the lion’s share of revenue (90 percent), while drive technology contributed 10 percent.
Despite market headwinds, Ziehl-Abegg stayed committed to its long-term strategy of developing and manufacturing locally. There were no layoffs; reduced capacity was managed through temporary staffing and short-time work. In total, the company’s headcount increased from 5,000 to 5,300 employees. This growth occurred outside Germany, while staffing levels at the company’s three German locations remained steady at 2,800.
Investing in the Future – With an Eye on Costs
In addition to shifting market dynamics, 2024 was also marked by major investments. In August, Ziehl-Abegg opened a new plant in the U.S. – the largest single investment in company history at €100 million. Earlier in the year, a new production facility began operations in Vietnam. Back in late 2023, another plant was completed in Poland, initially intended to meet growing demand for heat pump fans – a boom that has yet to materialize. “Long transport routes drive up costs and make little sense ecologically,” CEO Ley explains. These investments underscore Ziehl-Abegg’s long-term growth strategy, but they also call for strict cost discipline – despite strong order books.
Outlook: Growth Drivers for 2025
Demand for energy-efficient solutions in data centers is booming. Operators in the U.S. and Asia are increasingly turning to Ziehl-Abegg’s high-performance fans to boost energy efficiency in their facilities. This trend is fueling optimism for 2025.
As is tradition, Ziehl-Abegg does not publish profit figures – but one thing is clear: 2024 was economically unsatisfactory. That makes the strong start to 2025 all the more important. “The company is globally positioned for growth – we’ve done our homework,” emphasizes CEO Ley.
