Creditreform Rating reaffirms Zeppelin Group’s BBB+ Rating with stable outlook

• Prior-year credit rating reaffirmed
• Integration of PEPP Group strengthens international presence and creates potential for synergies
• Further improvement in key financial metrics expected over the medium term

Creditreform Rating AG has once again assigned Zeppelin GmbH an overall rating of BBB+ with a stable outlook as part of an independent corporate issuer rating. This reaffirms the rating assigned by Creditreform in the previous year.

Creditreform particularly recognizes the positive business performance of the Zeppelin Group. In fiscal year 2025, revenue increased by 16.2 percent to EUR 4.44 billion. EBT also improved, rising from EUR 107.7 million in the previous year to EUR 135.2 million. The rating agency also views positively the integration of PEPP Group B.V., acquired in 2025, which has strengthened the Zeppelin Group’s international presence and diversification and created potential for synergies and economies of scale.

“Creditreform’s reaffirmation of our BBB+ rating with a stable outlook is a positive signal. At the same time, we are aware that financing the PEPP acquisition initially has an impact on our financial position. We are therefore focusing on leveraging the potential offered by the acquisition, continuing to advance our operating performance, and improving our financial structure step by step. In doing so, we will continue to strengthen the foundation for sustainable growth and pursue our proven approach of stability-oriented growth”, says Christian Dummler, Managing Director and CFO of the Zeppelin Group.

Creditreform expects Zeppelin’s financial position to improve further over the medium term. In particular, higher profitability, stronger operating cash flow and an improved equity ratio are expected to contribute to this development. The rating agency also identifies the company’s established market position, its long-standing partnership with Caterpillar and its diversified portfolio of products and services as additional strengths.

Creditreform Rating AG is one of Europe’s leading rating agencies and part of the globally active Creditreform Group, one of the largest providers of business information in Europe. The full report by Creditreform Rating AG is available here.

The certificate from Creditreform Rating AG can be downloaded here.

About the Zeppelin Group

The Zeppelin Group is a global sales and service provider with extensive industry expertise in the fields of construction, drive and energy. The company’s success is built on its established brands Zeppelin Cat, Zeppelin Rental, and Zeppelin Power Systems as well as its plant engineering division, Zeppelin Systems. Zeppelin supports its customers with a comprehensive portfolio of services – ranging from consulting, engineering and sales to rental and project solutions as well as service, maintenance and digital solutions. With over 12,000 employees in 29 countries, Zeppelin is a highperforming, globally positioned group. In the 2025 fiscal year, Zeppelin generated revenue of 4.4 billion euros. The holding company is Zeppelin GmbH, with its legal domicile in Friedrichshafen; the corporate headquarters are located in Garching near Munich. The Zeppelin Group is owned by the Zeppelin Foundation. For more information, please visit zeppelin.com.

Zeppelin GmbH
Graf-Zeppelin-Platz 1
85748 Garching near Munich
Germany