Protherm

What Protherm does

Protherm is a Slovak residential heating and hot water equipment manufacturer, operating as a brand within the German Vaillant Group (Vaillant Group Slovakia, s.r.o., Skalica) since 2001. Founded in 1991 and headquartered in Skalica, the company designs, manufactures, and distributes a complete residential heating portfolio: gas condensing boilers (Tiger Condens, Gepard Condens, Panther Condens, Medveď Condens, Lev Heliotwin), non-condensing gas boilers, monoblock and split air-to-water heat pumps (GeniaAir Mono/Split/Classic with R290 refrigerant), electric boilers (Ray series), solar thermal systems (HelioSet drainback technology), gas instantaneous water heaters (Panda series), hot water storage tanks, and smart regulators (MiPro Sense, MiSet, MiGo Link IoT gateway, eBUS protocol). Manufacturing is centralized at the Skalica facility (Jurkovičova 45), which produced over 710,000 heating units in 2020 for the Protherm, Vaillant, and Saunier Duval brands, supported by an in-house laboratory, climate-chamber test centre, training academy (since 2015), and a visitor centre.

The business model is primarily hardware sales of heating equipment, distributed through an authorized installer and service partner network in Slovakia and via direct e-commerce (protherm-online.sk) bundled with installation and a 5-year warranty. Additional revenue is generated through extended warranty programs, online service books, and consumables/accessories (tanks, flue pipes, regulators). Pricing is quote-based through partners; the e-commerce channel offers discounted unit pricing online. End customers are residential homeowners (single-family houses and apartments) replacing or installing heating systems, served by SMB plumbing/heating contractors who constitute the B2B channel; a smaller non-primary segment includes building developers for multi-unit installations. The company exports to 24+ countries (Germany, Belgium, Turkey, Italy, Ukraine, UK and others) primarily under Vaillant Group distribution, and operates a centralized East Hub logistics centre relocated to Senica in 2023.

Customer-facing technology differentiators include the patented Isodyn integrated 42L hot water storage system (now in its third generation with usage-pattern learning), FlameFit automatic combustion adjustment, the HelioSet drainback solar system, R290 natural refrigerant heat pumps with Flexible Space placement, and a connected product stack via MiGo Link / EEBUS enabling remote control, energy monitoring, and integration with home energy management systems. The company is privately held inside Vaillant GmbH with no independent capital structure.

Name

Protherm

Legal name

Vaillant Group Slovakia, s.r.o.

Website

https://protherm.sk

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Protherm is a Slovak residential heating and hot water equipment manufacturer, operating within the Vaillant Group, producing condensing boilers, R290 air-to-water heat pumps, electric boilers, solar thermal systems and smart controls at its Skalica facility, distributed via an authorized installer network and direct e-commerce to homeowners across Slovakia and 24+ export markets.

Ownership category

akta.pro rank

Product category

Residential Heating Equipment

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Power Boiler and Heat Exchanger Manufacturing (332410), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Wholesale-Hardware & Plumbing & Heating Equipment & Supplies (5070)

akta.pro primary industry

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

Keywords

• Gas condensing boilers
• Air-to-water heat pumps
• Heating equipment manufacturing
• Residential HVAC systems
• Solar thermal solutions

Headquarters

HQ city

Skalica

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Heating Equipment Sales: Protherm generates the majority of its revenue from the sale of heating equipment including condensing gas boilers, non-condensing boilers, heat pumps, electric boilers, solar thermal systems, and accessories. Products are sold through an authorized partner network of installers and an online e-commerce platform.
2. Extended Warranty and Service: Protherm offers extended warranty programs (up to 5 years) and online service books for its products, creating recurring service revenue and customer lock-in.
3. Water Storage Tanks and Accessories: Sales of complementary products including hot water storage tanks (FE120BM, VEQ75), flue pipes, connection kits, and control regulators generate additional hardware revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Protherm manufactures and sells a comprehensive portfolio of residential and commercial heating and hot water equipment, including gas condensing and non-condensing boilers, air-to-water heat pumps, electric boilers, solar thermal systems, gas instantaneous water heaters, hot water storage tanks, and smart control regulators. The company operates from a production facility in Skalica, Slovakia, producing over 700,000 units annually for the Protherm, Vaillant, and Saunier Duval brands, sold primarily through a network of authorized installation partners and an e-commerce platform.

Product overview

Protherm is a heating and hot water technology manufacturer offering a comprehensive portfolio of gas condensing and non-condensing boilers (Tiger Condens, Gepard Condens, Panther Condens, Medveď Condens, Lev Heliotwin), air-to-water heat pumps (GeniaAir Classic, GeniaAir Split, GeniaAir Mono with R290/R410a refrigerants), electric boilers (Ray series), solar thermal systems (HelioSet drainback technology), gas instantaneous water heaters (Panda series), hot water storage tanks (FE and VEQ series), and smart control systems (MiPro Sense, MiSet, MiGo Link). Products are sold primarily in Slovakia as part of the Vaillant Group, manufactured at the Skalica facility producing over 700,000 units annually. The portfolio includes complete heating solutions from standalone products to integrated systems with smart connectivity via eBUS protocol and MiGo Link app integration.

Differentiator

Problem solved

Functional benefit

Brands

• Protherm: Primary brand for heating and hot water solutions including condensing boilers, heat pumps, electric boilers, solar systems, and control technology
• Protherm Production
• Protherm Pro

Products and services

• Tiger Condens Wall-hung gas condensing boiler with integrated hot water storage tanks (21L or 42L) using patented Isodyn technology, FlameFit automatic combustion adjustment, energy class A (A+ with MiPro Sense regulator), and Isodyn3 intelligent learning for hot water preparation optimization.
• Gepard Condens MKO
• Panther Condens
• Medveď Condens KKS
• Lev Heliotwin 20 KKZ150
• Gepard 18/24 MOV
• GeniaAir Classic
• GeniaAir Split
• GeniaAir Mono
• Ray Electric Boiler
• HelioSet FES2 250 BM
• Panda IOG
• Panda PTP 27
• Ray + VEQ75 + Thermolink P Package
• Ray + FE120BM + Thermolink P Package

Quantifiable outcome

• Up to 70% energy savings on hot water preparation with solar systems
• +6 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Vaillant GroupcoreStrategic or Co-development PartnerProtherm is a brand of the Vaillant Group, one of Europe's leading heating technology companies. Vaillant Group provides global R&D capabilities, brand heritage (150+ years), manufacturing infrastructure, and international distribution networks. Protherm products are manufactured at the Vaillant Group's Skalica facility alongside Vaillant and Saunier Duval brands. The group provides strategic direction, technology platforms, and cross-brand synergies.
• Vaillant Group Slovakia, s.r.o.coreOthersVaillant Group Slovakia, s.r.o. is the legal entity operating Protherm in Slovakia, registered at Pplk. Pľjušťa 45, 909 01 Skalica (IČO: 35765712). It manages the Protherm brand, customer service, and partner network in Slovakia.
• Protherm Production s.r.o.coreOthersProtherm Production s.r.o. is the manufacturing subsidiary operating the Skalica production facility, which manufactures more than 700,000 heating units annually for Vaillant, Protherm, and Saunier Duval brands.
• EuroTRADING s.r.o.minorOthersEuroTRADING s.r.o. provides the Data Protection Officer (DPO) function for Vaillant Group Slovakia in compliance with GDPR Article 37, contactable at [email protected].
• Authorized Installation and Service PartnerscoreChannel Partner/ Reseller/ DistributorA nationwide network of certified plumbers, heating engineers, and service technicians who sell, install, and maintain Protherm products. Partners are supported through the Protherm Pro portal, training programmes, technical documentation, spare parts access, and extended warranty programmes. The network ensures professional installation and after-sales service for end customers.
• Green Households (Zelená domácnosťam)coreGTM or Marketing PartnerPartnership with the Slovak state subsidy programme 'Zelená domácnosťam' (Green Households) enabling residential customers to receive subsidies of up to €5,500 for purchasing and installing GeniaAir heat pumps. Protherm offers a double subsidy scheme where installation partners apply the subsidy as a discount on the product price. Applies to GeniaAir air-to-water heat pumps purchased and installed between February 15 and June 30, 2026.

Scale indicators7 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• Daikin Europe: Daikin is the global leader in heat-pump technology with a strong Altherma range of air-to-water heat pumps; as the heat-pump category becomes Protherm's growth engine via GeniaAir, Daikin is the principal scale competitor driving pricing, efficiency benchmarks, and installer mindshare across Europe including CEE markets.
• Bosch Thermotechnology: Bosch Thermotechnology (Worcester, Nefit, Junkers brands) manufactures gas condensing boilers, heat pumps, and hybrid heating systems for residential European markets, directly competing with Protherm's boiler and heat-pump lines through overlapping installer channels and similar product positioning.
• Viessmann: Viessmann is a German family-owned manufacturer of condensing boilers, heat pumps, and solar thermal systems with deep European installer relationships, operating as a directly comparable premium residential heating OEM to Protherm across condensing boilers, air-to-water heat pumps, and renewables.
• Ariston Group: Ariston Group (including Chaffoteaux, Elco, ATAG) manufactures wall-hung condensing boilers, heat pumps, and hybrid systems for residential heating, with strong CEE distribution — closely overlapping with Protherm's product portfolio and channel strategy.
• BDR Thermea Group: BDR Thermea (parent of Baxi, De Dietrich, Remeha, Brötje) is one of Europe's largest residential heating manufacturers, offering gas boilers, heat pumps, and hybrid systems via competing installer networks — a direct peer in product range, distribution model, and CEE/Western European footprint.
• Immergas: Immergas is an Italian family-owned condensing boiler and heat-pump manufacturer with direct sales through certified installer networks across Southern and Eastern Europe, competing head-to-head with Protherm's boiler portfolio in CZE, SVK and surrounding CEE markets.

Emerging players

• Daikin Altherma / Mitsubishi Electric Hydronics & IT Cooling: Mitsubishi Electric's Ecodan air-to-source heat-pump line competes with Protherm's GeniaAir series in the mid-to-high-heat-pump residential segment, particularly as European subsidies accelerate adoption; both firms rely on installer/integrator channels for residential deployment.

Broad incumbents

• Junkers (Bosch) / Buderus: Buderus (Bosch subsidiary) is a leading European supplier of heating systems — boilers, heat pumps, solar — with established CEE presence, competing directly with Protherm's Skalica-manufactured product mix in both gas and heat-pump segments.
• Vaillant (Germany): Vaillant is Protherm's parent company and also a competing premium residential heating brand in Western Europe; while Protherm markets the same technology under its own brand, Vaillant's broader portfolio (heat pumps, hybrids, commercial) and global reach make it a benchmark incumbent whose strategy directly shapes Protherm's product roadmap.

Regional players

• Fondital: Fondital is an Italian manufacturer of aluminium and cast-iron condensing boilers, radiators, and heat pumps selling primarily in Southern and Eastern Europe; it is a regional competitor with comparable wall-hung condensing products and overlapping CEE channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCVj4-2-YAtPS1eV9r0SCirA
• Facebookfacebook.com/ProthermSK

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Protherm