Achievements 2020

BDR Thermea Group took strides forward on sustainability in 2020, investing heavily in developing a broad range of technologies to decarbonise space and water heating – in line with our mission to bring a zero-carbon future closer, through smart heating technology.


BDR Thermea Group Annual Report 2020

Looking back on an unprecedented year

Over the past three years, we have tripled our investments in heat pumps and hybrids, and we launched more than 20 new heat pump product lines in 2020.

Building on our pioneering development and trial of the world’s first high efficiency 100% hydrogen boiler in 2019, we have extended this to multiple pilots in UK, France and the Netherlands. We last year became a member of the European Clean Hydrogen Alliance, to further promote the use of this climate-neutral energy carrier.

We worked to reduce our carbon impact as a company, cutting our footprint by 16% in 2020 - in part thanks to our shift to green electricity in Germany. Last June, we started operating a state-of-the-art new plant with a near-zero carbon footprint in China, the world’s largest boiler market. The factory has multiple sustainable features, including FSC-certified wood and many renewable or re-used materials such as old concrete and brick, smart sunshades, photovoltaic solar panels and a geothermal heat pump for both heating and cooling.

“The COVID-19 pandemic accelerated change as never before, fuelling megatrends that are key in our industry, such as the energy transition and digitalisation,” says CEO Bertrand Schmitt. “Our customers are becoming increasingly aware of their carbon footprint and demanding new solutions that fulfil their need for space and water heating devices that dramatically reduce the impact on the environment.”


"Our customers are becoming increasingly aware of their carbon footprint and demanding new solutions that fulfil their need for space and water heating devices that dramatically reduce the impact on the environment"

Bertrand Schmitt | CEO BDR Thermea Group


Reflecting on business in 2020

BDR Thermea Group realised net sales of €1.785 billion in 2020, with revenue largely recovering in the second half of this unprecedented pandemic-hit year from a second-quarter sales decline caused by lockdown effects.

We delivered 1.35 million residential boilers to customers worldwide in 2020 – a similar level to 2019. Our heat pump business grew by double digits, supported by market growth, local performance and the new product line launches.  Air conditioner sales grew in Turkey and southern Europe at a similar rate. Service income increased by 4% compared to 2019.

With digitalisation continuing to transform how we work and live, we expanded our offering in smart thermal comfort solutions. These included our Baxi Heating subscription-based boiler service in the UK, a new remote maintenance offering for the Elga Ace heat pump in the Netherlands, and the introduction of a smart commissioning wizard for many of our heat pump.


Supporting health in the pandemic 

COVID-19 created a public health crisis of unprecedented proportions and made clear how important BDR Thermea products are for fundamental hygiene. We worked flat out to continue keeping homes, hospitals and businesses supplied with heating, hot water and maintenance services all through the lockdown periods.

We offered important ad hoc support as needed. For example, our Baxi Heating business in the UK urgently changed its manufacturing schedule to prioritise production of hot water heaters for hospital isolation units. Our plants in the UK and Spain switched their use of 3D printers from making prototype boiler components to frames for protective face masks. Baxi Spain & Portugal participated in the production of assisted respirators and other sanitary materials.

“I’m extremely proud of how everyone at BDR Thermea Group – all countries, departments and teams around the world – worked together to navigate the challenges of 2020,” says Bertrand.



Strong start to 2021

The current year began strongly, with robust sales in the first months of 2021 across almost all our markets, and especially in Eastern and Western Europe. 

The energy transition is set to accelerate in Europe, driven by the expectation that the EU and national governments will link economic stimulus measures to carbon reduction targets. Residential housing markets are expected to grow, in new-build and renovation, as hybrid working models remain even after lockdown measures are eased. We anticipate the main heating markets outside Western Europe where BDR Thermea is active - Russia, Turkey and China - will grow in terms of traditional heating systems.

 “We expect to take advantage of our growing portfolio in products and services to satisfy changing customer needs, and look with confidence to market developments in 2021 and beyond,” says Bertrand. “There is a huge opportunity, especially in the dynamic heat pump market and connected services, to improve the energy performance of space and water heating.”