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

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 UK Managing Director Mark McManus said. 


With heat pumps becoming increasingly popular as a renewable energy source, STIEBEL ELTRON’s UK branch recently unveiled a new training centre and showroom to accommodate the next generation of heat pump installers.


Based at its headquarters in Bromborough Wirral, the UK branch invested £350,000 into the new 280m2 training area which can accommodate up to 16 professionals-to-be at any given time.


Fitted with the latest STIEBEL ELTRON equipment, the company hopes the investment will spark a rise in installers as the UK transitions towards renewable heating solutions. 


In the UK, the company has seen a rise in demand for heat pumps, with the manufacturer reporting a 70 percent increase in heat pump sales, when compared to last year.


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. 


With the STIEBEL ELTRON Group reaching a turnover of more than one billion for 2022, Mark McManus believes 2023 will be a year which sees further records broken.


Mark McManus, Managing Director, STIEBEL ELTRON UK said: “As demand for heat pumps continues to accelerate, STIEBEL ELTRON is going to go from strength to strength. 2023 is set to be a very exciting year for all branches of the company. 


“It isn’t just about meeting demand for heat pumps, it’s about ensuring that we provide the best installers, who have the expertise and training to ensure that every project they embark on is a success. That is why we have invested in our new training centre and the support package which will ensure installers are well equipped. 


“A huge congratulations to everyone who work tirelessly day-in day-out at STIEBEL ELTRON to ensure they make the business a success. This milestone is a fine example of their superb work.”


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."