Navigating change, building momentum

Market review

Navigating change, building momentum

A look at the market forces shaping our industry and how Hager responded in 2025.

The market for building electrification is large, growing, and undergoing a fundamental shift. The energy transition, tightening renovation requirements, and the electrification of heating and mobility are creating sustained demand for intelligent electrical solutions. Commercial construction has been particularly strong, increasingly outpacing the residential segment across Europe.

Hager operates at the centre of this market and the room to grow is significant.

2025: pressure and progress

The year brought real headwinds. Residential construction remained subdued. Declining energy prices slowed investment in energy management. Competition intensified on all fronts.

Yet Hager made measurable progress on the things that matter most to customers. More than half of all product transactions are now processed electronically. Make-to-order lead times have been reduced from seven days to two. Verified environmental data is available for over 80% of our product range. And our EcoVadis Platinum rating, achieved for the second consecutive year, has become a tangible factor in winning business.

The second half of 2025 saw a clear shift. The electrification segment moved from contraction to growth. Our project business won larger contracts, including the complete electrical system for the Meinau Stadium in Strasbourg. In energy management, the team renewed the entire EV charging portfolio in under twelve months and signed a five-year AC charging partnership with TotalEnergies, using our newly launched Witty charging stations.

Looking ahead

Growth in 2026 will be driven by volume. For our customers and partners, that means a continued focus on the quality, availability, and integration of the solutions they rely on every day. The structural demand is there. The capabilities are in place. Our ambition is to grow faster than the market we serve.

Three questions for

Michael Flieger,
Chief Financial Officer

Hager has begun the transition from transformation to growth in 2026. What does that shift require?

Discipline. We spent two years rebuilding our operational foundations and improving profitability. That work is paying off. Now it is time to scale the business. We need to convert the momentum from the second half of 2025 into consistent, profitable volume growth across every market.

What would a successful 2026 look like for Hager – not in numbers, but in terms of what you would see and feel in the market?

Customers choosing us for projects they wouldn’t have considered us for two years ago. Panel builders coming back because delivery works. Specifiers putting us into their plans because they trust the system, not just the component. And internally – teams seeing how their operational improvements connect to the growth we’re delivering. That’s when you know the transformation has landed.

What market development are you watching most closely?

Energy management. The turnaround in 2025 proved we can build a competitive offer at speed. Now we must turn it into a successful business and reclaim our market share – internationally, profitably, and in a way that reinforces our core business. Every energy management solution we sell drives demand for protection devices, distribution systems, and cable management. If that multiplier effect takes hold across markets, it changes the growth profile of the entire company.

Hager Annual & Sustainability Report 2025/26 – undefined Letter of the Chairman – undefined Letter from the Chief Executive Officer – undefined Introduction – undefined Our brand promise – undefined The Return to Blue – undefined Operational Excellence – undefined Introduction – undefined The switch to circular – undefined Powering performance, locally – undefined From Charging to Participating – undefined Hager at a Glance – undefined Introduction – undefined Navigating change, building momentum – undefined Tomorrow Won't Wait – undefined Sustainability Report – undefined Introduction: advancing sustainable growth and stakeholder value – undefined Performing and transforming with care – undefined General Disclosures – undefined Materiality Assessment – undefined E3: An integrated sustainability framework – undefined Environment: protecting the climate and natural resources – undefined Better buildings. Better tomorrows: electrifying the transition ahead – undefined Climate change and energy – undefined The roof that pays for itself – undefined Beyond the last mile: the routes to zero – undefined When buildings learn to think – undefined Managing substances of concern in our products – undefined Our focus on resource use and circularity – undefined Managing additional environmental topics – undefined Social: fostering wellbeing and strengthening communities – undefined Care is the Hager way: why people matter to better buildings – undefined Our people and culture – undefined The talent equation – undefined Product safety for consumers and end users – undefined Growing skills, growing business – undefined Governance: building trust through integrity and responsibility – undefined Ethics: acting with integrity – undefined From fishing nets to circuit breakers – undefined Content Index – undefined Contact / Imprint – undefined