πŸ› Stock pick: Thermador Group

Thermador Group 🚰

Thermador Group owns, controls, groups together, and drives companies distributing:

  • materials and accessories for fluid circulation in buildings and industry,
  • large tooling for the retail and pro markets.

Why did I choose to invest in Thermador Group?

  • Steady growth πŸ“ˆ: +18.5% YoY Turnover in 2019 and +7.2% in 2020 (+2.6% at constant scope).
  • Comfy margins: Consolidated net profit represents 8% of the consolidated turnover.
  • Great after-sales service which is key πŸ”‘ to keep happy clients
  • A ton of potential gain in operational efficiency through digitalization. This is a new priority for the group.
  • Management forecast growth in the next decade.
  • The share of e-commerce in the company’s products is between 0 and 15%. There is a lot of room for improvement (ie for growth) and Thermador Group is aware of this as it is shifting focus toward e-commerce πŸ–₯ to boost online sales. All the commercial subsidiaries’ websites will be totally revamped over the coming years.
  • Thermador Group also is known for having an aggressive - yet consistent - external growth πŸ’° (8 acquisitions in the last 2 years), buying distribution companies that work in a way that is compatible with their model and their market.
  • The company is aware of its own weaknesses and relentlessly works on them. For example, they tend to be less dependant on the new-building house market πŸ— which is a medium-term threat to their revenues as this market is stagnating and is likely to decline.
  • Thermador Group communicates and invests a lot in its extra-financial performance. Companies that have the luxury to focus on this and which do are companies you want to be part of.

What is my position?

I bought shares at a unit price of 67,737€ on the last day of 2020. Currently, the share value is 72€, I’m up 6,29% and holding waiting for more growth and juicy dividends (dividend yield is around 3%).


The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

Paul-Mehdy M'Rabet

Paul-Mehdy M'Rabet

I help CIO and CDO from global manufacturers and industrial leaders to design ambitious roadmap their teams can actually deliver and I love it! I write about #ai, #data and #finance.