A simplified mathematical model has been used-to compute the performance of an absorption heat pump-transformer (HPT). This two-stage apparatus, which consists of a heat transformer driven by low-temperature cooling water and of a heat pump driven by high-temperature steam, has been compared with a simpler absorption heat pump. Different indices of performance show that the HPT may give a better performance at a competitive cost. In particular, the upgraded heat load can be produced at a markedly higher temperature. The main drawback of the HPT consists of the smaller values of the ratio between upgraded and recovered heat loads.