This Research Note examines Viessmann climate and refrigeration solutions business based on their 2021 financial results, press releases, acquisitions, and divestments. Founded in 1917, Viessmann is a leading global provider of sustainable climate (heating, cooling, water and air quality) and renewable energy solutions. The family-owned company is based in Allendorf, Germany with over 13,000 employees worldwide. The company is represented by 120 sales branches and 22 production facilities around the world.   Despite adverse effects from the COVID pandemic and challenged global supply chains, the family business successfully grew in another year of crisis. The group’s total revenue in 2021 reached a new record high of EUR 3.4 billion (the previous year: EUR 2.8 billion). The significant growth rate of +21% was driven by increasing demand for premium heat pumps which jumped by +41%. More than 54% of revenues are derived outside Germany. Together with their 2021 financial results, Viessmann group announced on 2nd May 2022 that it would invest […]