Earnings Release • Jan 20, 2025
Earnings Release
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Ad hoc announcement pursuant to Art. 53 LR
Belimo Holding AG / Key word(s): Sales Result
Double-Digit Organic Growth Validates Belimo's Long-Term Strategy
20-Jan-2025 / 06:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
The Belimo Group achieved strong results, consistently executing its growth strategy and leveraging opportunities in data centers and the renovation market. In 2024, net sales grew 13.1% in local currencies and 9.9% in Swiss francs to CHF 943.9 million.
The Americas market region achieved net sales growth of 19.8% in local currencies. This success builds on an extraordinary sequence of years during which Belimo Americas gained significant market share and solidified its reputation as a key partner in high-end, demanding applications — not only in its traditional business but also among leading chip designers and their network of partners and associated industries. By contributing to the design and commercialization of next-generation data center cooling solutions with our innovative mission-critical components, Belimo has further strengthened its market position not only in the region, but globally. The Americas market region has now become Belimo’s largest in terms of absolute revenue contribution, reaffirming its role as a key driver of the company’s overall performance.
The EMEA market region achieved solid net sales growth of 5.9% in local currencies. This performance, however, remained influenced by a generally subdued market environment, particularly in new commercial construction and in Germany.
The Asia Pacific market region reported an increase in net sales of 14.6% in local currencies, with revenue momentum increasing sequentially into the second half of the year. This growth was driven by double-digit net sales increases in Belimo India and China, with the latter achieving strong results despite the ongoing challenges in the country's construction sector.
Net Sales by Market Region
| in CHF 1’000 | 2024 | 2023 | ||||||
| Net sales | % 2) | Growth in CHF | Growth in local currencies |
Net sales | % 2) | Growth in CHF | Growth in local currencies |
|
| EMEA | 389'731 | 41% | 3.7% | 5.9% | 375'920 | 44% | 2.2% | 6.4% |
| Americas | 433'976 | 46% | 16.1% | 19.8% | 373'813 | 44% | 1.5% | 7.7% |
| Asia Pacific | 120'153 | 13% | 10.2% | 14.6% | 109'053 | 13% | -1.5% | 8.2% |
| Total 1) | 943'860 | 100% | 9.9% | 13.1% | 858'785 | 100% | 1.4% | 7.2% |
1) due to rounding, amounts presented do not add up precisely to the totals provided
2) in % of total net sales
Building on a strong sequence of years, the Control Valves business line again achieved significant market share gains, delivering robust growth of 15.4% in local currencies and reaffirming Belimo's position as an innovation leader. Similarly, Sensors and Meters continued its growth trajectory, recording a strong increase of 25.0% in local currencies. While Damper Actuators experienced more moderate growth of 9.7% in local currencies, the destocking phase among original equipment manufacturer (OEM) customers has now concluded. Belimo has begun to benefit from some recovery in volumes within its OEM channel, despite the overall subdued business momentum in the new construction industry in EMEA.
Net Sales by Business Line
| in CHF 1’000 | 2024 | 2023 | ||||||
| Net sales | % 2) | Growth in CHF | Growth in local currencies |
Net sales | % 2) | Growth in CHF | Growth in local currencies |
|
| Damper Actuators | 431'666 | 46% | 6.6% | 9.7% | 404'788 | 47% | -4.5% | 1.1% |
| Control Valves | 468'043 | 50% | 12.1% | 15.4% | 417'490 | 49% | 6.1% | 12.0% |
| Sensors and Meters | 44'152 | 5% | 20.9% | 25.0% | 36'507 | 4% | 23.3% | 31.0% |
| Total 1) | 943'860 | 100% | 9.9% | 13.1% | 858'785 | 100% | 1.4% | 7.2% |
1) due to rounding, amounts presented do not add up precisely to the totals provided
2) in % of total net sales
The Belimo Group is the global market leader in the development, production, and sales of field devices for the energy-efficient control of heating, ventilation, and air-conditioning systems. The focus of our core business is on damper actuators, control valves, and sensors and meters. In 2024, the Company reported sales of CHF 944 million and has over 2’400 employees. Information about the Company and its products is available at www.belimo.com . The shares of BELIMO Holding AG have been traded on the SIX Swiss Exchange since 1995 (BEAN).
Today at 9.00 a.m. CET, a call on the sales development 2024 will be held. Please register via this link .
| Contact | Dr. Markus Schürch, CFO | +41 43 843 61 72 | ||
| Dr. Marta Bruska, Head of Investor Relations | +41 43 843 47 55 | |||
| Agenda | Media and Financial Analysts Conference on the 2024 Financial Statements |
February 24, 2025 | ||
| Annual General Meeting 2025 | March 24, 2025 | |||
| Publication of Semiannual Report 2025 | July 21, 2025 |
End of Inside Information
| Language: | English |
| Company: | Belimo Holding AG |
| Brunnenbachstrasse 1 | |
| 8340 Hinwil | |
| Switzerland | |
| Phone: | +41 43 843 63 80 |
| Fax: | +41 43 843 62 41 |
| E-mail: | [email protected] |
| Internet: | www.belimo.com |
| ISIN: | CH1101098163 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2070345 |
| End of Announcement | EQS News Service |
2070345 20-Jan-2025 CET/CEST
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