Business model

Our identity

THERMADOR GROUPE brings together companies that distribute equipment and accessories for the circulation of fluids in construction, public works and industry, as well as large tools for the general public and professionals. Our customers are wholesalers of heating and sanitary equipment, pumps, valves and fittings, industrial supplies, public works companies, industrialists and all those involved in DIY. Our suppliers are the manufacturers of these products throughout the world.


Our group has built its growth on respect for its teams, shareholders, customers, suppliers, other stakeholders and the environment. Our values are trust, transparency and simplicity in human relations.

Since the foundation of Thermador in 1968, our teams have been at the centre of our values.


Our values

Each employee, whatever his or her function, can exchange with his or her peers in inter-subsidiary working groups. This is the case in the field of management, where the sharing of good practices is a very effective method of encouraging each individual to progress and of ensuring overall cohesion.
We fully accept that there is no group HRD. Our vision is that the director of each subsidiary, in close collaboration with the administrative department and the local manager, must assume full responsibility for their human resources. Thus, the administrative departments of the subsidiaries are responsible for several areas of activity, including human resources, IT, accounting and taxation. Human resources are the area to which they devote most of their time, in order to ensure that our employees have the right working conditions. Thermador Groupe provides support in legal and payroll matters.

It all starts with recruitment, a difficult art that we practise with humility and simplicity. In the end, we find that collegial decisions are the safest. Throughout the individual career paths, we strive to allow each person to develop his or her talents, according to his or her merits and abilities. We cultivate the virtues of exemplarity, transparency, respect and a fair share of the proceeds of our work.

"The future value of the group is in the hands of its leaders and its teams. We are therefore working hard to grow our human resources."

To give purpose to the missions of each person.

We attach importance to seniority in our teams. Preserving the motivation of our employees is therefore essential, as our employees stay in our subsidiaries for an average of 9.7 years. This involves thinking about the tasks entrusted to them, their development and the meaning given to each person’s contribution.

The choice of proximity with our employees.

Our management teams are clearly responsible for the quality of the human climate in the companies and we encourage care, friendliness, simplicity and serenity.
Our short structure, limited to four hierarchical levels, favours proximity between the managers and all the employees. However, this proximity is no longer sufficient today to collect all the ideas, remarks, suggestions and dissatisfactions of the women and men who work in each of our subsidiaries. Since 2017, we have submitted our ‘quality-of-life-at-work’ survey to our. employees every three years. They have clearly taken to this new form of expression, as 93% of them responded in 2021. These surveys are the subject of action plans in the subsidiaries in order to address the remarks made via this anonymous questionnaire.

We believe we have a committed, competent, efficient and generally loyal staff.

When departure seems inevitable, we strive to remain fair, dignified and maintain good relations with those who are leaving us.

The importance of exemplarity and transparency.

All of this allows us and imposes on us a high degree of requirement in all positions, for the greatest benefit of all. Transparency of salaries in our subsidiaries is an effective means of preserving equal pay regardless of gender, religious conviction, political opinion, social or ethnic origin, sexual orientation or identity, disability, family status, nationality, surname or physical appearance.

With the acquisition of 10 companies and two businesses since 2015, our challenge is to open up to other business cultures while gradually spreading our core values. These values must endure and constitute the cement of the group.



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

Thermador Groupe is a player in the distribution. 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.

Our activities contributing to 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 professions are presented from page 6 and 7.
- Our vision, strategy and current challenges are outlined in the Chairman’s statement on pages 10 and 11 of this document.
- Our governance is described from page 28 to 41.



Equity: €319m.
- Diluted shareholding with 8,704 shareholders
of which 40.4% are private shareholders.
- Cash: €16 million.
- Debt: €46.6m.
- 972 suppliers of finished products.
- 32,081 customer-partners.
- Product inventories: €190.4m.
Real estate:
- Market value: €86.3 million.
Our teams comprise:
- 753 employees (excluding DPI).
Real estate:
- 119,843 m2
of storage space.
- 66,892 products in stock.
- 20 transport partners.
- 4 design offices in our subsidiaries.
- Our teams cover more than 20 languages.
Information system:
- Number of data produced: 766.
- 1 communications agency with 14 experts
in digital marketing, graphic design,
production and video.
- Electricity: 2,378,488 kWh and gas:
3,755,296 kWh
- Fuel.
Renewable resources:
- Cardboard and wood.
Non-renewable resources:
- Stretch film.



- Turnover: €553,859K, up 12% to constant
scope (13.8% overall).
- Net income: €58,899k
Sharing the value created:
- Payroll: €58,084K.
- Profit sharing: 97% of our employees receive
variable components in their pay.
- Purchases of goods and services: €361,014k.
- Shareholders: dividends paid every year
since 1988 without ever having decreased.
- Tax burden: €20,148k
- Donations and sponsorship €103,457
- 85.5% of our suppliers are signatories to our
purchasing charter.
- Long-term supplier relationships: 22% of our
purchases are made from suppliers who have
been partners for more than 40 years.
Employee loyalty and satisfaction:
Staff turnover rate: 16.67%.
- Average length of service: 9.7 years.
- Quality-of-life-at-work survey: 93%
of employees responded (last survey).
Health of our teams:
- Work-related accident frequency rate: 8.91.
- Percentage of employees trained: 81%.
- Number of training hours: 12,754.
- 41.5% of women in management positions.
Job creation:
- Number of jobs created in France in 2022: 38.
- Tonnage received: 48,657.
- Tonnage shipped: 45,943.
- 3 subsidiaries training organisations deliver
courses to our customers.
- 6 subsidiaries representing 34%
of our turnover are ISO 9001-certified.
- 18 catalogues created.
- 32 videos produced.
- 200 building and industrial products
modelled in 3D.
- 92% of electricity consumed on a green
- Reduction in total electricity consumption:
- Reduction in total gas consumption: 8%.
- Reduction in total water consumption: 24%.
Waste and emissions:
- 95.7% of waste recycled or reclaimed.
- WEEE contribution for product recycling:
- Total CO2 emissions (Scope 1, 2, 3): +4.4%


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


2022 Universal Registration Document