Belimo Continues Growth Amid Economic and Industry Headwinds

Belimo Holding AG reported solid performance and growth throughout the challenging economic landscape of 2023. The global leader in energy-efficient HVAC field devices remained committed to its growth and investment strategy, successfully navigating the year's hurdles with the help of dedicated employees and a robust supplier network. Despite the complex conditions, Belimo welcomed nearly 100 new talents and invested CHF 76.0 million in research and development, particularly in a state-of-the-art building automation platform.

In a tough economic environment, Belimo experienced a 7.2% increase in net sales in local currencies and a slight 1.4% rise to CHF 858.8 million in Swiss francs. Operating cash flow improved significantly, benefiting from reduced net working capital, and the company is proposing a stable dividend of CHF 8.50 per share at its 2024 Annual General Meeting. Sales saw varied growth across different regions, with the EMEA and Americas regions showing resilience and advancement despite broader market challenges.

The company's product lines, especially Control Valves and Sensors and Meters, recorded noteworthy growth, reflecting Belimo's innovation and market leadership. Looking ahead to 2024, Belimo anticipates continued demand in its field devices for new construction and renovation projects, albeit at the lower end of its growth projection. The company remains positioned to leverage market shifts towards improved indoor air quality and energy efficiency in building automation, aligning with urbanization and climate change trends.