from Belimo Holding AG (isin : CH0001503199)
Belimo Achieves Substantial Growth in Sales in 2023
Belimo Holding AG / Key word(s): Sales Result
Belimo Achieves Substantial Growth in Sales in 2023
22-Jan-2024 / 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.
Belimo demonstrated substantial sales growth in a year characterized by inflation pressures, rising interest rates, and slowing business momentum in the construction industry. In 2023, net sales grew 7.2% in local currencies and 1.4% in Swiss francs to CHF 858.8 million.
The Americas market region reported impressive results with a sales growth of 7.7% in local currencies. This follows an extraordinary previous year in which Belimo was able to gain significant market share due to delivery issues in the industry. This led to a substantial baseline effect, particularly in the second half year of 2022. In face of a challenging construction market, the EMEA market region achieved solid sales growth of 6.4% in local currencies thanks to a strong focus on retrofit opportunities. The Asia Pacific market region registered an increase in sales of 8.2% in local currencies. Belimo India, along with other regional subsidiaries, performed exceptionally well, compensating for the challenging circumstances in China.
Net Sales by Market Region
in | 2022 | 2021 | ||||||
Net sales | %2) | Growth | Growth | Net sales | %2) | Growth | Growth | |
EMEA | 375'920 | 44% | 2.2% | 6.4% | 367'902 | 43% | -2.0% | 4.7% |
Americas | 373'813 | 44% | 1.5% | 7.7% | 368'261 | 43% | 26.4% | 21.3% |
Asia Pacific | 109'053 | 13% | -1.5% | 8.2% | 110'737 | 13% | 12.5% | 11.4% |
Total1) | 858'785 | 100% | 1.4% | 7.2% | 846'900 | 100% | 10.7% | 11.9% |
1) Due to rounding, amounts presented do not add up precisely to the totals provided.
2) In % of total net sales.
The business line Control Valves expanded its market share and achieved a growth rate of 12.0% in local currencies while Damper Actuators grew only slightly. The newest business line Sensors and Meters gained further traction registering an increase in sales of 31.0% in local currencies.
Net Sales by Application
in | 2022 | 2021 | ||||||
Net sales | %2) | Growth | Growth | Net sales | %2) | Growth | Growth | |
Damper Actuators | 404'788 | 47% | -4.5% | 1.1% | 423'803 | 50% | 4.6% | 6.6% |
Control Valves | 417'490 | 49% | 6.1% | 12.0% | 393'492 | 46% | 16.2% | 16.5% |
Sensors and Meters | 36'507 | 4% | 23.3% | 31.0% | 29'605 | 3% | 36.3% | 38.5% |
Total1) | 858'785 | 100% | 1.4% | 7.2% | 846'900 | 100% | 10.7% | 11.9% |
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, sensors, and meters. In 2023, the Company reported sales of CHF 859 million and over 2’300 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 2023 will be held. Please register via this Link.
Contact
Dr. Markus Schürch, CFO
+41 43 843 61 72
Agenda
Publication of the Financial Statements 2023 / Earnings Call /
Media and Financial Analysts Conference
March 4, 2024
Annual General Meeting 2024
March 25, 2024
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: | ir@belimo.ch |
| Internet: | www.belimo.com |
| ISIN: | CH1101098163 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1819475 |
| End of Announcement | EQS News Service |
1819475 22-Jan-2024 CET/CEST