Q3 2021 Carel Industries SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Carel first nine months 2021 results conference call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Francesco Nalini, CEO of Carel. Please go ahead, sir.
Thank you. Good afternoon, everybody, and thanks for joining our call for the presentation of the nine month 2021 results. I'm moving straight to page 2 with the main financial highlights. So as expected in this quarter, tensions on the global supply chain, in particular for electronic components, intensified.
In spite of this we managed to achieve in the quarter -- so June to September, a very good growth of 15% on a like-for-like basis over a third quarter of last year that was already pretty positive because we had a growth of almost 8%. And this is thanks to the actions and investments that the Group has been taking to increase its resiliency.
This led to a growth in the nine months of 25.1%. If we exclude
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