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Visual21 Nov 2025
Data center suppliers
Indel B (INDB) investor relations material
Indel B Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 TU earnings summary23 Oct, 2025
Executive summary
Consolidated sales revenues for the first nine months of 2025 reached €156.8 million, nearly flat year-over-year at current exchange rates, with product sales at €154.9 million, down 0.2% from 2024.
The group maintains a diversified business structure with subsidiaries across Europe, the Americas, and other regions.
Double-digit growth in Leisure and Cooling Appliances sectors, with positive Hospitality performance and Automotive showing signs of stabilization after earlier declines.
Financial highlights
Product sales revenues were €154.9 million, down 0.2% from €155.2 million in 2024.
Total consolidated sales revenues were €156.8 million, compared to €157.5 million in 2024.
Organic sales declined by 2.4%, M&A contributed 2.8%, and FX translation had a -0.6% impact.
Other revenues declined 15.2% to €2.0 million, mainly from transport cost recovery and mold cost re-invoicing.
Segment performance
OEM channel sales declined from 50% to 46% of total sales, while Aftermarket increased from 35% to 39%.
Automotive revenues declined 5.4% to €95.3 million, with the rate of decline easing, indicating stabilization.
Leisure revenues grew 18.8% to €19.4 million, driven by the Marine acquisition; on a like-for-like basis, Leisure would have declined 5.6%.
Cooling Appliances saw 22.7% growth to €8.6 million, supported by a 60% increase in milk fridge orders.
Europe (excluding Italy) increased its share from 53% to 55% of total sales, while Italy's share decreased from 29% to 27%.
Leisure market organic growth rate?
Automotive market decline easing trend?
Autoclima air conditioning sales by channel?
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Frequently asked questions
Indel B S.p.A. is an Italian company that designs, manufactures, and sells refrigeration and air-conditioning systems globally. Its product portfolio includes mobile refrigerators and air coolers for vehicles such as trucks, buses, and special vehicles like ambulances and recreational vehicles. The company also provides minibars, safes, and other technological accessories for the hospitality industry, including hotels and cruise ships. Additionally, Indel B produces built-in and transportable refrigeration units for marine applications and cooling appliances for the wine industry. The company is headquartered in Sant'Agata Feltria, Italy, and its shares are listed on the Borsa Italiana.
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