Ariston Thermo, an Italian producer of heating systems and related products, says it has sold more than 150,000 heaters and 600,000 boilers since its entry to the Hungarian market in 1998, according to a press release sent to the Budapest Business Journal.
Gábor Pavek, recently appointed CEO of Ariston Thermo Hungária Kft., said the growing number of construction projects in Hungary is having a positive effect on the market, after a temporary halt in growth in 2016 due to new regulations. The growth of the condensation market is expected to continue at a rate of 10% annually until 2020, he added.
Pavek revealed that renovation projects taking place in the country are also an important factor in the high number of sales, as customers tend to replace old heaters and boilers with newer models during the process.
“With modern products, we don’t have to worry about carbon monoxide poisoning, and on today’s booming market, we can increase property values in all regions of the country,” he said.
Ariston Thermo, based in Milan, Italy, can look back on a successful period globally as well. The press release states that the companyʼs total income was EUR 1.57 billion with net profits in the region of EUR 83 million in 2017.