Stiebel Eltron has reached a milestone in its company history as its annual turnover exceeded €1bn after just 11 months.
In the past five years Stiebel Eltron has more than doubled its turnover, seeing increases consecutively for each year since 2017, according to a statement.
From €550m in 2018, turnover climbed to €594m in 2019 and €700m in 2020. Last year, it was €830m, and now the billion mark has been reached.
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 280 sqm training area which can accommodate up to 16 professionals-to-be at any given time.
Mark McManus, managing director of 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.”