A heat pump OEM with >20% growth ambitions
Energy Save is a Swedish heat pump manufacturer (~75% residential, ~25% commercial) that uses in-house R&D and outsourced production to secure a cost-effective and scalable organisation. The company has historically grown sales by ~30% (FY'17/18-'23/24e), and has shown an ability to generate profits with ~33% gross margins (14% EBIT margin FY'22/23). Energy Save aims to outgrow the market, which it expects to grow by 20% p.a. '22-'30e (ABGSCe ~10% CAGR), and deliver a 15% margin.