The story
Founded by Francesco Merloni in 1975, in Fabriano.1
Private company
Ariston
Logo: Ariston Holding, Public domain, via Wikimedia Commons3
Italian thermal comfort manufacturing company
Ariston Holding N.V. (formerly known as Merloni TermoSanitari S.p.A., Ariston Thermo S.p.A. and Ariston Thermo Holding S.p.A.), known simply as Ariston, is an Italian multinational operating in the thermal comfort sector, active in the production of solutions for space and water heating, burners and components. Founded in 1975 through the split of Industrie Merloni into several companies, it is headquartered in Fabriano, the Merloni family's traditional home.2 From Wikipedia, CC BY-SA 4.0
Last updated Oct 16, 2026.
Overview
- Tickeron Italian Stock Exchange1
- Industryhome appliance industry1
- HeadquartersAmsterdam1
- Founded inFabriano1
- Websitewww.aristongroup.com
- Legal formpublic company1
- Listed onItalian Stock Exchange (ARIS)1
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Ariston Holding N.V. (formerly known as Merloni TermoSanitari S.p.A., Ariston Thermo S.p.A. and Ariston Thermo Holding S.p.A.), known simply as Ariston, is an Italian multinational operating in the thermal comfort sector, active in the production of solutions for space and water heating, burners and components.2
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $927.7M | $510.6M |
| Cost of sales | -$414.5M | -$314.8M |
| Depreciation and depletion | -$52.9M | -$34.1M |
| Social contributions | -$27.4M | -$14.4M |
| Income from mining operations | $432.8M | $147.3M |
| General and administrative costs | -$21.3M | -$18.3M |
| Loss from investments in associates | $0 | -$2.9M |
| Share-based compensation | -$42.1M | -$5.3M |
| Other expenses | -$10.0M | -$3.4M |
| Income from operations | $359.4M | $117.4M |
| Loss on financial instruments | -$76.8M | -$16.2M |
| Loss on disposal of Juby Project | -$3.2M | $0 |
| Loss on termination of Soto Norte Project Precious Metals Purchase Agreement | -$5.0M | $0 |
| Finance income | $12.6M | $6.9M |
| Finance costs | -$40.7M | -$41.0M |
| Foreign exchange gain (loss) | -$39.2M | $12.1M |
| Income before income tax | $207.1M | $79.3M |
| Current | -$136.7M | -$53.6M |
| Deferred | $9.0M | -$2.5M |
| Net income | $79.4M | $23.3M |
| Owners of the Company | $78.3M | $24.6M |
| Non-controlling interest | $1.0M | -$1.3M |
| Earnings per share attributable to owners of the Company basic (in USD per share) | $0.42 | $0.16 |
| Weighted average number of outstanding common shares basic (in shares) | 188.6M shares | 157.7M shares |
| Earnings per share attributable to owners of the Company diluted (in USD per share) | $0.41 | $0.14 |
| Weighted average number of outstanding common shares diluted (in shares) | 191.3M shares | 158.7M shares |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $391.9M | $252.5M | $194.6M |
| Gold in trust | $1.9M | $1.7M | |
| Trade and other receivables | $76.8M | $47.2M | |
| Inventories | $56.2M | $45.7M | |
| Other current assets | $9.8M | $3.6M | |
| Total current assets | $536.7M | $350.8M | |
| Cash in trust | $3.5M | $3.1M | |
| Mining interests, plant and equipment | $1.9B | $1.6B | $943.5M |
| Other financial assets | $28.0M | $12.6M | |
| Other long-term assets | $159.0K | $215.0K | |
| Total assets | $2.5B | $2.0B | |
| Accounts payable and accrued liabilities | $154.7M | $76.2M | |
| Income tax payable | $77.3M | $18.3M | |
| Current portion of long-term debt | $53.7M | $22.1M | |
| Warrant liabilities | $0 | $8.9M | |
| Current portion of deferred revenue | $8.6M | $4.4M | |
| Current portion of provisions | $7.6M | $3.0M | |
| Current portion of lease obligations | $2.6M | $1.6M | |
| Total current liabilities | $304.5M | $134.5M | |
| Long-term debt | $465.8M | $494.1M | |
| Deferred revenue | $192.2M | $194.0M | |
| Provisions | $27.2M | $28.8M | |
| Deferred income taxes | $54.6M | $55.0M | $60.4M |
| Lease obligations | $3.5M | $2.7M | |
| Other long-term liabilities | $13.2M | $2.2M | |
| Total liabilities | $1.1B | $911.4M | |
| Share capital | $1.2B | $935.9M | |
| Share purchase warrants | $4.5M | $4.5M | |
| Contributed surplus | $416.9M | $209.5M | |
| Accumulated other comprehensive loss | -$31.8M | -$160.4M | |
| Deficit | -$112.5M | -$190.9M | |
| Equity attributable to owners of the Company | $1.4B | $798.6M | |
| Non-controlling interest | $0 | $284.5M | |
| Total equity | $1.4B | $1.1B | $624.7M |
| Total liabilities and equity | $2.5B | $2.0B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | $79.4M | $23.3M |
| Depreciation and depletion | $54.1M | $34.1M |
| Loss from investments in associates | $0 | $2.9M |
| Share-based compensation | $42.1M | $5.3M |
| Finance costs | $40.7M | $41.0M |
| Loss on financial instruments | $76.8M | $16.2M |
| Loss on disposal of Juby Project | $3.2M | $0 |
| Amortization of deferred revenue and cumulative catch-up | -$6.3M | -$3.9M |
| Unrealized foreign exchange loss (gain) | $31.7M | -$14.9M |
| Income tax expense | $127.7M | $56.0M |
| Loss on termination of Soto Norte Project Precious Metals Purchase Agreement | $5.0M | $0 |
| Other | $1.0M | $645.0K |
| Payment of Deferred Share Units and Performance Share Units | -$2.2M | -$2.2M |
| Termination of Soto Norte Project Precious Metals Purchase Agreement | -$10.0M | $0 |
| Precious metal stream deposit received | $0 | $40.0M |
| Changes in non-cash operating working capital items | $12.1M | -$18.7M |
| Operating cash flows before taxes | $455.3M | $179.6M |
| Income taxes paid | -$82.3M | -$38.4M |
| Net cash provided by operating activities | $373.0M | $141.2M |
| Additions to mining interests, plant and equipment | -$243.9M | -$181.4M |
| Contributions to investment in associates | $0 | -$2.6M |
| Cash proceeds from sale of Juby Project | $13.1M | $0 |
| Purchase of marketable securities | -$1.4M | $0 |
| Increase in cash acquired with Soto Norte Acquisition | $0 | $5.3M |
| Acquisition costs and project funding | $0 | -$6.1M |
| Capitalized interest paid (net) | -$25.0M | -$13.8M |
| Net cash used in investing activities | -$257.2M | -$198.8M |
| Acquisition of 49% interest in Soto Norte Project | -$50.0M | $0 |
| Net proceeds from Senior Notes 2029 | $0 | $441.3M |
| Payment of lease obligations | -$2.8M | -$2.5M |
| Interest paid | -$36.0M | -$26.5M |
| Increase in gold in trust account | -$234.0K | $0 |
| Repayment of convertible debenture | $0 | -$1.3M |
| Proceeds from exercise of stock options and warrants, net of issuance costs | $126.1M | $30.2M |
| Net cash provided by financing activities | $21.0M | $121.3M |
| Impact of foreign exchange rate changes on cash and equivalents | $2.6M | -$5.8M |
| Increase in cash and cash equivalents | $139.3M | $57.9M |
Leadership
Who has led Ariston, and when. Pick a name to see everywhere that person has worked.
- FounderFrancesco Merloni1
Products and brands
- air conditioner
- heating equipment
- home appliance
Listed on Wikidata.1
Acquisitions
- Succeeded Industrie Merloni1
Timeline
Links
- Websitewww.mtsgroup.com1
- Websitewww.ariston.com1
- Facebookwww.facebook.com/Ariston.Brand.Global1
- Instagramwww.instagram.com/aristonofficial1
- YouTubewww.youtube.com/channel/UCUanU8SY2aKxuXGr5hAsW0Q1
- LinkedInwww.linkedin.com/company/ariston1
- WikipediaAriston Group
- WikidataQ1059709
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataAriston on Wikidata
- 2WikipediaAriston on Wikipedia
- 3Wikimedia CommonsAriston logo by Ariston Holding, Public domain
- 4SEC EDGARAriston 10-K for fiscal 2025
- 5Wikimedia CommonsAriston photo by Nuorese 95, CC BY-SA 4.0
- 6SEC EDGARAriston 10-K for fiscal 2022
- 7SEC EDGARAriston 10-K for fiscal 2023