28 Jul 2021



The 2020 consolidated financial statements of Immerfin, the Italian holding company that controls the firm from Brescello (RE), positions the group among the leaders in innovation aimed at sustainability and energy saving in home climate systems: turnover of Euro 283 million and over 1,000 employees worldwide, with exports accounting for 54% of its activities. Alfredo Amadei announces new investments aimed at saving energy and using alternative energy sources, such as biogas and hydrogen in hybrid systems. 2021 is expected to see a double-digit increase in turnover both in Italy and abroad.


Brescello, 28th July 2021 - Over the coming years, home climate systems, which for decades have consisted simply of boilers for heating and air conditioning for cooling, will undergo a genuine revolution based on renewable energy sources and the digitalisation of integrated systems capable of opening up new horizons. “We are living through and will continue to live through rapid changes and we are faced with so many opportunities, which Immergas is committed to grasping, as it has always done for almost 60 years, in order to provide the utmost comfort to houses the world over”, said Alfredo Amadei, Chairman of Immergas. “We have chosen to continue investing in innovation and Italian-made products, and we are ready to tackle new challenges. Our integrated hybrid systems (boiler, heat pump, increasingly digitalised smart systems for regulation and control) are at the heart of our future. The way forward is clear: The Hybrid Change - Chance. This is a big change and a great opportunity that the terrible pandemic year has only accelerated further. The new European and other climate regulations constitute a historic challenge for the entire thermotechnology sector. In the coming years, Immergas will become greener and more digital. Starting as early as 2022, our investment plan will push the group towards new frontiers, as outlined by the European Green New Deal, involving the use of biogas and hydrogen with solutions tailored to home climate control”.

The holding company's capital strength allowed it to survive 2020, which will be remembered as the year of the pandemic, reaching a production value of Euro 283 million, of which 54% was generated on foreign markets, in line with that achieved in 2019. The main profitability indicators were maintained at levels capable of sustaining the group’s investment plan and operational management: return on equity (ROE) was 9.16%, compared with 9.93% in 2019, while net profit amounted to Euro 28 million, compared with Euro 27.5 million in 2019.

“All the companies that form part of the Immerfin group”, Mr Amadei added, “have proven able to react to the difficulties of the first half of 2020 thanks to targeted commercial actions which, together with the launch of new products, have guided and incentivised the national and foreign sales force to achieve developmental objectives that will be even more evident this year and in 2022. The first half of 2021 went well both in Italy, thanks partly to incentives, and abroad, and we are expecting to close 2021 with double-digit growth in turnover, despite the global difficulties in procurement of raw materials and the pandemic-related risks still present”.

The Immergas brand has confirmed its position as the leader in Italy in the condensing-boiler and hybrid-system segment, whereas abroad, the home climate solutions market saw varying trends in 2020 depending on geographical area and geopolitical context.

“The Immerfin group”, Mr Amadei commented, “has guaranteed continued employment for over one thousand employees worldwide. We are continuing to build our vision around policies aimed at valuing our human resources, with a focus on training and maintaining a high level of operating safety. We have gradually reopened our headquarters in Brescello to training activities aimed at professionals in the thermotechnology sector, who continue to represent one of our strengths. Sales of gas boilers in the markets in which we are present and well-established through our network of commercial branches (14 in total) were more or less in line with the previous financial year. Specifically: volumes increased by 23% in Romania, 11% in the United Kingdom and Slovakia, 7% in Bulgaria, 5.5% in Hungary and 6% in Poland, and remained more or less unchanged in Italy and Greece. In the coming months we will bring all our international partners together in Milan to trace the post-pandemic roadmap and confirm our worldwide development plans, starting with the upgrading (doubling) of our plant in Iran, together with ongoing investment in all the group's other production facilities”.

Research and development will continue to be strategic, with a Brescello-based team dedicated to new technological challenges, in terms of both the application of biogas and hydrogen and the increasingly significant introduction of digital technologies during the design and production phases and in individual products and systems.

A total of 34 new products entered into production in 2020, including boilers, hybrid systems and heat pumps, with eight new boiler models for foreign markets and as many as 21 new hybrid/non-gas product codes.

“At the product level”, said Mr Amadei, “our decision in recent years to focus on integrated hybrid systems is proving to be an adequate strategy for tackling the new challenges imposed by the 2030 targets on emissions and energy efficiency, as well as the subsequent targets aimed at achieving energy neutrality by 2050. Proof that the investment in the new Research Centre, Laboratorium (inaugurated in 2018), and in new solutions orientated towards sustainability and energy saving is paying off can be found in the market data: in the top segment, with the highest technological content and where digitalisation is coming into force (hybrid systems), sales of all brands of the Immerfin group, and particularly of Immergas and Alpha Heating Innovation (which has been active in the United Kingdom for 20 years), were up considerably in 2020 (+22%). The beginning of 2021 saw confirmation of the signs of recovery that began in the second half of 2020, thanks in part to investments in business continuity, such as the tax breaks introduced by the Italian government (110% bonus and invoice discounting)”.

In this complex economic scenario, all of the Immerfin group’s companies recorded an increase in turnover in the first half of 2021, compared with both the previous year and the forecasts, both in Italy and abroad; however, the recovery of the home climate system sector as a whole is being hindered by the global shortage of raw materials, which is a genuine emergency that is affecting business continuity.

“Ours is a long-term horizon, looking 10-15 years ahead”, concluded Mr Amadei, adding  “the increases in turnover we have seen in the first half of 2021 are certainly the result of ongoing investment in hybrid systems that we have had in place for several years now. Our training programmes for installers do not merely cover the technical and technological aspects, but also deal with 360° consultancy for the end customer. In this role, Immergas wishes to continue to be, as in the past, a visible and concrete point of reference and a partner for designers, installers and the entire sales network, both in Italy and abroad. Furthermore, incentives have also had a positive influence In Italy, together with the active role played by Immergas in making the change sustainable”.



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27 May 2021



All over Europe, the new communication line “The hybrid Change/Chance” marks the start of the development plan that takes the group to its 60th year from foundation with the launch of new HVAC solutions increasingly geared to sustainability. The European Union Intellectual Property Office (EUIPO) has issued Immergas with the Certificate of Registration for exclusive use. The new green line of Immergas also encompasses the new Immerenergy website.


Brescello, 27th May 2021 - This 57th year is a very special one for Immergas, because 2021 will see the new investments for innovation and sustainability take concrete form.

“New products and new solutions” – explains Alfredo Amadei, Chairman – “that will give a sign of acceleration as we approach the 60-year milestone: years spent in the constant pursuit of innovation, which takes concrete form in the development of our new hybrid systems and in the recognition received from the European Union Intellectual Property Office (EUIPO), which issued Immergas with the Certificate of Registration for the slogan The Hybrid Change/Chance. In the HVAC sector, the use of the slogan will only be allowed if referred to Immergas products and systems. It is an important recognition which increases the recognizability of our company. It is a clear sign; a trademark that speaks about our way of seeing the transformation that we are experiencing, not only regarding the technology but also in terms of care for the environment”.

The work of our marketing team led to the formulation of a message that will be used in all Immergas communication lines.


EUIPO with its headquarters in Alicante, Spain, since 1994 is the EU Intellectual Property Office in charge of managing trademarks, drawings and models registered in the European Union. It also cooperates with the IP offices of EU member states and with international partners to offer equivalent registration services for trademarks, drawings and models worldwide.


“The Hybrid Change/Chance” – remarks Ettore Bergamaschi, Immergas Operational Marketing and Communication Director – “was chosen to give prominence to our company’s Green Approach philosophy: our way of tackling new projects with the objective of reducing consumption and harmful emissions right from the start, constantly improving the performance and therefore the efficiency of our HVAC systems”.

The Hybrid Change/Chance is the slogan that will stand next to Immergas brand in every communication all over Europe, highlighting its global reach.

“The concept of hybrid is at the centre” - adds Cristina Biazzi, Head of Immergas Communication Department - “this word has entered our daily language to describe the combination of traditional and modern technologies for the production and use of energy that will progressively get less dependent on fossil fuel. It is an essential step towards reducing to a minimum the environmental impact of the systems that make our home climate comfortable.  The technological step forward is the change that many professionals have sought and that we support with our appliances, in the belief that they will offer everyone a great chance. From the combination of these two important words, we created the slogan The Hybrid Change/Chance: by changing just one letter (G/C), “change” turns into “chance”. This is a sign of positivity that perfectly matches with Immergas approach, the company that for nearly 60 years has welcomed technological progress aiming at a constant improvement”.

Another important component of Immergas Green Line is the new Immerenergy website. It displays in a clear, direct way the two areas of activity: the smart, turn-key photovoltaic solutions both for residential and industrial applications, eligible for the 110% superbonus with the possibility for the users to request a quotation.


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26 Apr 2021



Un nuovo potenziamento del tetto fotovoltaico, la scelta di acquistare e utilizzare solo energia da fonti rinnovabili e l’illuminazione ambientale che è diventata total led a basso consumo, portano l’ASE (l’Analisi della Sostenibilità Energetica) condotta da RePower sullo stabilimento di Lentigione ai massimi livelli di efficienza.

Brescello 26 aprile 2021 – La transizione energetica in chiave ecologica, l’orientamento alla sostenibilità a 360°, alla Immergas è iniziata il 5 febbraio 1964 quando Romano Amadei, insieme a Gianni Biacchi e Giuseppe Carra, intuì che la metanizzazione della Pianura Padana lanciata dall’Eni guidata da un grande visionario, Enrico Mattei, avrebbe cambiato il mondo del riscaldamento domestico. E non si è mai fermata. L’ennesima conferma dei passi avanti nel “green approach” di Immergas arriva dalla innovativa “pagella energetica” per la principale unità produttiva Immergas a Lentigione di Brescello (Re), dove nascono le più avanzate soluzioni per il clima domestico. Il report 2021 evidenzia un risultato molto positivo: il rating ottenuto è 4 su un massimo di 5.

“E c’è tutto il nostro impegno per migliorare ancora sulla strada della sostenibilità che è la linea guida delle nostre scelte per lo sviluppo – commenta il Presidente di Immergas Alfredo Amadei – faremo ancora meglio nei prossimi anni. L’attestato di eccellenza ASE che renderemo evidente nella nostra comunicazione al mercato e ai fornitori si abbina al riconoscimento arrivato dall’Ufficio dell’Unione Europea per la Proprietà Intellettuale (EUIPO), che ha rilasciato a Immergas il Certificato di Registrazione per lo slogan “The Hybrid Change/Chance”. Nel settore del clima domestico potrà essere utilizzato solo in relazione ai prodotti e ai sistemi Immergas”.

L’ASE (l’Analisi della Sostenibilità Energetica) lanciata dal gruppo RePower è basata su 10 focus point e valuta nel complesso la qualità e la sostenibilità delle forniture energetiche, l’ottimizzazione dei consumi, la prevenzione e sicurezza dell’impiantistica, l’indice di risparmio dei sistemi di illuminazione, gli aggiornamenti impiantistici e le soluzioni per favorire la mobilità elettrica. Se l’indice (o punteggio) ottenuto è pari ad almeno 3 punti (su un totale di 5) all’azienda viene rilasciato un attestato di eccellenza. In Immergas “adeguarsi alle normative” non basta. “L'evoluzione di cui abbiamo bisogno – aggiunge Alfredo Amadei - richiede un modo di pensare all'ambiente e alle attività industriali più avanzato: una vera rivoluzione nell'organizzazione delle strutture produttive che si trasferirà nelle realtà abitative in tutto il mondo, dove Immergas ha installato oltre 7 milioni e mezzo di caldaie”. Sui tetti degli stabilimenti Immergas, ormai da dieci anni, dal 2011, lavora silenzioso, pulito ed efficiente un importante impianto fotovoltaico con oltre 4 mila pannelli. “Un nuovo ampliamento, appena completato - spiega Alfredo Amadei - ha raddoppiato la potenza complessiva disponibile (1,9 MW di potenza per un totale di 2.000.000 di kWh annui prodotti). Un forte contributo quotidiano alla limitazione di consumi e di emissione dei gas serra che è stato evidenziato dall’Analisi della Sostenibilità Energetica di RePower”.

La colonnina per la ricarica dei veicoli elettrici installata davanti al Centro di Formazione Avanzata Domus Technica e la sostituzione dei vecchi sistemi di illuminazione lungo le linee produttive e negli uffici con Led a basso consumo e alta efficienza, sono altrettanti segnali verdi, che Immergas lancia unitamente ai programmi di educazione al consumo responsabile dell’energia. “Prima di tutto in azienda ma anche in tutti i nostri contatti – aggiunge Alfredo Amadei – compresi quelli con le scuole, che finita la pandemia torneranno ad essere al centro del programma Energie per la Scuola che ha già informato oltre 6.000 alunni in circa 40 scuole in 7 regioni.

“Accelerare è possibile – conclude Alfredo Amadei – siamo in campo sulle nuove fonti rinnovabili dal 2010, con la nostra divisione Immerenergy, e siamo pronti per entrare nell’era digitale.

I nostri lavori in corso si concretizzano mese dopo mese. La scelta di Immergas è quindi lontana dalla moda del momento, dal mordi e fuggi per ottenere qualche vantaggio di breve periodo. È un impegno costante fatto di investimenti e di una visione d’impresa orientata alla lunga durata, alla creazione di valore nel tempo”.

Nella green line di Immergas si inserisce a pieno titolo il nuovo portale internet di Immerenergy.

Il nuovo portale immerenergy.it, visualizza in modo chiaro e immediato le due aree di attività, le soluzioni intelligenti e “chiavi in mano” basate sul fotovoltaico, sia per le residenze che per le attività industriali che rientrano nel superbonus 110% e consente di richiedere direttamente un preventivo.

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27 Nov 2020



Our strong investment in research and development, started with the creation of Laboratorium, brings to the market an innovative system to control home climate while saving energy. The Chairman Alfredo Amadei: “We already have a new investment plan for advanced technological products and solutions, starting in 2020 through to 2028.”


Brescello, 27 November 2020 - Immergas looks to the future, enters the digital age and after one year of research and experimenting performed in our Laboratorium (Research and Development Centre opened in 2018), launches “Smartech Plus”, an innovative smart chronothermostat designed to control home climate directly from a smartphone. “We completed work on the new Smartech Plus during the lockdown months”, says Immergas Chairman Alfredo Amadei, “so we are starting to give substance to our decision to invest in new home climate technology geared to sustainability and energy saving. Our entry into the digital world is only a first step. Innovation means breaking with the past, it is a challenge, it is also our way of responding to the new European Union regulations aimed at reducing the impact of climate control systems. The acceleration is strong, but our roadmap and our vision are clear. We already have a new investment plan for advanced technological products and solutions, starting in 2020 through to 2028.”

Smartech Plus was conceived and will evolve thanks also to our collaboration with the University of Pisa (Department of Energy, Systems, Territory and Construction Engineering, Director Umberto Desideri and Scientific Director  Daniele Testi), who are developing the algorithm that will enable Smartech Plus to acquire data on desired home climate from the temperature adjustments made by the user, but also thanks to Amazon’s AWS cloud computing for security policies. The product is fully “made in Italy”, designed and produced by the Immergas team: “Special attention was devoted to style”, explains Ettore Bergamaschi, Operational Marketing and Communication Director, “it is powered by two small batteries (like the ones used in TV remote controls) therefore it can be moved around the house easily, simply set on a piece of furniture, a bookshelf or fixed to a wall. Currently available in white, with other colour variants coming in the future. Smartech Plus was designed by Dirk Schumann (of Schumanndesign), who has been responsible for the style of Immergas boilers for many years”.

The new chronothermostat is wireless and combines many Bluetooth-operated functions (directly from the display, easy-to-read thanks to the application of e-ink technology). When connected to Wi-Fi, many other features are added through the application for IOS and Android smartphones, including: adjustment control while away from home, acquisition of local weather data, geolocalization of one or more users via enabled cell phones to determine absence of people in the home and voice command through virtual assistants Alexa and Google Home. The new Smartech Plus will also show any boiler operation errors on the application and on the display and allows control of more than one home, such as a holiday home, with just a click from the access menu.

One of the development lines concerns the activation of an Internet portal which will make it possible for both users and Authorized Service Centres to interact with the chronothermostat.

The new chronothermostat will follow the development of Immergas from boilers to hybrid and no-gas systems, to control not only domestic hot water and heating as at present, but also heat pumps and other devices. It can be used in new installations as well as to enhance the functionalities of existing systems, with substantial advantages in terms of energy saving: “With correct use of home temperature control (according to external temperature) and of programming functions”, specifies Cristian Zambrelli, Immergas Technological Innovation Director “you can save over 10% on consumption of the controlled system. This is a significant advantage in terms also of its contribution to the reduction of pollutants”.  Compatibility stands out among its main competitive pluses: “Optimal use of existing functionalities and of those that will be implemented, ensures compatibility with Immergas boilers produced from 2005 onwards (and for some functions with previous ones too), as well as for many non-Immergas boilers with similar technology”.

Smartech Plus positions itself in the top range of innovative products. Purchase, delivery and installation is through the Immergas Service Centre that follows the end user (almost 600 service centres spread across Italy). “We chose to present it on the new www.casa.immergas.com portal and on social media (soon with a video too)”, concludes Ettore Bergamaschi, “because it is expressly geared to end users and it contains a lot of information on Immergas systems. With just one click, you can find out all the details needed for purchase and installation, with information also on the new incentives introduced by the Government”.

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27 Oct 2020



The 2019 consolidated financial statements report revenues of 285 million euros. Alfredo Amadei, chairman of Immergas, announces new steps for the development of foreign markets and moves the focus onto R&D and innovation as a way of facing the great changes which the HVAC sector will experience in the coming years. Over 1,000 people employed worldwide in the four plants in Brescello (Italy), Slovakia, China and Iran and in the company’s sales branches. The 2020 forecast confirms profit margins that will support the group’s development plans for the coming years.


Brescello 27 October 2020 – “In Immergas, “Hybrid Change” means directing technological evolution towards more efficient innovative solutions with low environmental impact. We see change as an opportunity”. Alfredo Amadei, chairman of Immergas,  one of the worldwide leaders in the HVAC field, has set his sights on the evolution of the most innovative technologies to plan the process that will lead the Immerfin group, founded in Brescello (Italy), to new growth opportunities: “We will close the year 2020“, explains Alfredo Amadei, “with sales and service revenues only slightly below those of the previous year, with international sales accounting for approximately 55%. This is a slight drop from the previous year, thanks to the decision to diversify our production facilities (in Slovakia, China and Iran in addition to Italy). The lockdown and the below par performance of markets that were affected by the health emergency in the first semester, have been compensated by a marked recovery in the second part of the year, particularly in Italy and Eastern Europe; therefore, we predict that by the end of 2020 profitability will be on the same level as 2019, despite the decrease in boilers sold which will be proportional to the decrease in revenues at year end. This performance will allow us to accelerate our investment in research and development to maintain high competitiveness in a rapidly changing market. This will involve positioning Immergas and the other group brands (such as Alpha Heating Innovation in the United Kingdom market for 20 years) in the high-end segment and reinforcing the decision to be suppliers of highly innovative systems for total home comfort, rather than simple boiler manufacturers. The area in which our Company plans to be active is that of new low-impact technologies, promoted by the European Green Deal, and of the new challenges in the field of renewable energies. The group's Innovation and Research departments, which can be counted among the company’s main assets, have been working on sustainability-related projects for several years. On this front, we are not excluding international partnerships, we are ready to join efforts with universities and open to innovative ideas that may arrive from start-ups and talents engaged in environmental sustainability projects”.

The first semester of 2020 closed with positive results for the Immerfin group, in line with pre-COVID 19 projections and in some respects better, while in Italy a decline was inevitable and in 2021 we will be able to ascertain the actual effects of the incentive programmes set up by the Italian government.

“What lies ahead”, says Alfredo Amadei, “is rapid technological change. If the transition from traditional boilers seemed slow (around ten years), the switch to hybrid systems will be much quicker, while the new frontier for our industry consists in systems using “green gas” and hydrogen (similarly to what is happening in the automotive sector). A new competitive and technological scenario is emerging, with new large-sized players entering the HVAC sector with strong investments. The challenge that Immergas wants to take up is always the same: playing a key role in this new market”.

Immerfin Annual report 2019 - In 2019, the Immerfin group that controls Immergas, leading brand for condensing boilers in Italy, reported a significant increase in revenues: 285 million, up from 270 in 2018 and Roe close to 10%. Total sales volumes stood at around 400,000 units worldwide, bringing the total number of boilers installed well over 7,000,000. In 2019, the volumes reported by the group increased by 6% in Italy, 22% in the United Kingdom and Spain, 12% in Czech Republic, 16% in Romania, 23% in Poland, 17% in Hungary, 15% in Bulgaria and 130% in Greece. In Italy, Immergas confirmed its long-standing leadership in the boiler sector, and in 2019, positive performances were also achieved in non-EU markets: Russia (+20%), Ukraine (+4%) and China (+5%). Despite the difficult predicament of the Chinese market, sales by Immergas Beijing were up, partly thanks to the new Changzhou plant opened in autumn: their production of units especially designed for this major market offers new growth perspectives.

The internationalization of Immerfin, under the direction of  chairman Romano Amadei, included far-sighted investments in Slovakia, in the Poprad plant (now employing 121 people), which even in the Covid-19 times is proving its high strategic value: “In the first six months of 2020”, comments Alfredo Amadei, “the Slovak production facility has fully met market demands and allowed us to reach a production of 150,000 boilers. In China, the process of starting the new plant was obviously slowed down by the pandemic (the effect of which will also be reflected in this year’s results), but from 2021 we will be ready to take up every opportunity. We have a similar scenario in Quazvin (Iran), where the new phase of our manufacturing start-up is ready to go into full production”.

In Italy, the COVID 19 pandemic has produced effects that are only partly quantifiable and definitely more substantial than in the countries where Immerfin is present.

“Our industrial model”, adds Alfredo Amadei, “is based on the quality of our products and on renewal of our range, but it also relies on direct contact with system designers, installers and dealers. The year 2020 imposed significant changes both during and after the lockdown period. No exhibition (MCE Expocomfort in Milan), no factory visits and no on-site meetings. This changed scenario has forced us to devise alternative solutions to physical interactions.

Immergas will still keep investing not only on the technological front, but also on Caius Club partners (over 20,000 installers and system designers) and services, ensuring maximum support to professionals, in the form of consultancy and advanced training, which has been a characteristic trait of the first 56 years of our company’s history”.

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The 2020 consolidated financial statements of Immerfin, the Italian holding company that controls the firm from Brescello (RE), positions the group among the leaders in innovation aimed at sustainability and energy saving in home climate systems: turnover of Euro 283 million and over 1,000 employees worldwide, with exports accounting for 54% of its activities. 


The financial statements of the Immerfin group report a consolidated turnover of € 311.1 million, 70% of which was generated in foreign markets. The massive investments made in Italy (the new Laboratorium research centre) and the ones under way in China (production plant) open new growth perspectives.


The new production facility set up in Changzhou will be officially opened before the end of this year. The first boiler geared to the Chinese market has already been produced.