Business model

Our business model: activities that place us at the heart of the ecological transition

Thermador Groupe is a federation of specialist distribution companies. Our subsidiaries are the interface between manufacturers and wholesalers, DIY stores, factories, swimming pool professionals, e-merchants and marketplaces. Equipping buildings, public works and industry, particularly for heating, domestic hot water, ventilation, rainwater harvesting, wastewater treatment, drinking water supply, methanisation and energy transport, our activities place us at the heart of the ecological transition.

As distributors, our subsidiaries have a key role to play in selecting sustainable products, developing eco-design with their partners and upgrading their water and energy saving product ranges. The services we provide to our customers also help to extend the product life cycle.

Information on our contributions can be found herewith, in section Our solutions contributing to ecological transition.

✣ Our businesses are presented in chapter 1.3 (Universal Registration Document).
✣ Our vision, strategy and current challenges are outlined in the Chairman’s statement on page 1 of chapter 1.5.
✣ Our governance is described in chapter 2 of the URD.

Rainwater harvesting by Jetly and Aello using Globus



✣ Equity: €359 million.
✣ Diluted shareholding with 10,063 shareholders of which 41.1% are private shareholders.
✣ Cash: €35.2 million.
✣ Debt: €38.7 million.

✣ + 789 partner factories.

✣ 28,716 customer-partners.
✣ Product inventories: €191.7 million.

Real estate:
✣ Market value: €86.3 million.


Our teams formed of women and men:
✣ 777 employees (excluding DPI).


Real estate:
✣ 126,711 m2 of storage space for products and workshops.

✣ 66,636 products in stock.

✣ 17 transport partners.

✣ 4 design offices in our subsidiaries.
✣ Our teams cover more than 20 languages.
✣ A significant proportion of the products we sell carry more than 50 registered trademarks.

Information system:
✣ 1 information systems team made up of 17 experts.
✣ 1 communications agency with 14 experts in digital marketing, graphic design, production and video.


✣ Electricity: 2,156,733 kWh and gas: 2,607,937 kWh
✣ Fuel.

Renewable resources:
✣ Cardboard and wood.

Non-renewable resources:
✣ Stretch film.




✣ Turnover: €580.95m down 1.8%, to constant scope (+4.9% overall).
✣ Net income: €58.3m.

Sharing the value created:
✣ Payroll: €45,155k.
✣ Profit sharing: 96% of our employees receive variable components in their pay.
✣ Purchases of goods and services: €374.4m.
Shareholders: dividends paid every year since 1988 without ever having decreased. On February 1, 2024, €100 invested 10 years earlier was worth €360.72. This is equivalent to an average gross annual return of 13.7% (cf: p. 56).
✣ Tax burden: €21.4m.
Donations and sponsorship €91.2k.

✣ 92.8% of our suppliers are signatories to our Responsible Purchasing Charter.
✣ Long-term supplier relationships: 40 years of partnership for 21% of our suppliers.


Employee loyalty and satisfaction:
✣ Staff turnover rate: 15.7%.
✣ Average length of service: 9.6 years.
✣ Quality-of-life-at-work survey: 93% of employees responded (last survey).

Health of our teams:
✣ Work-related accident frequency rate: 12.71.

✣ Percentage of employees trained: 96.4%.
✣ Number of training hours: 14,677.

✣ 42.9% of women in management positions.

Job creation:
✣ Number of jobs created in France in 2023: 29.


✣ Tonnage received: 40,924 tons of products.
✣ Tonnage shipped: 41,413 tons of products.

✣ 3 subsidiaries which are training organisations deliver courses to our customers.
✣ 8 subsidiaries representing 65.09% of our turnover are ISO 9001-certified.
✣ 15 catalogues created.
✣ 48 videos produced.
✣ More than 500 building and industrial products modelled in 3D.


✣ 99% of electricity consumed on a green contract.
✣ Reduction in total electricity consumption: 9%.
✣ Reduction in total gas consumption: 31%.
✣ Reduction in total water consumption: 11%.

Waste and emissions:
✣ 99.4% of waste recycled or reclaimed.
✣ WEEE contribution for product recycling: €425k.
✣ Total CO2 emissions (Scope 1, 2, 3): 241 ktCO2e.

Les données en évolution sont indiquées par rapport à l’année précédente.


We visit our production sites ourselves, and check that our suppliers’ employees are well treated.


The future value of the group is in the hands of the management and their people in each of the subsidiaries


Training hours

Years' service


2023 Universal Registration Document