BELIMO
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BELIMO (BEAN) investor relations material

BELIMO H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary23 Feb, 2026

Executive summary

  • Achieved record sales of CHF 1.12 billion in 2025, up 23.3% in local currency and 18.7% in CHF, surpassing CHF 1 billion for the first time, with all regions contributing.

  • EBIT grew 29% to CHF 233 million, with a margin of 20.8%, up 159 basis points year-over-year, driven by operating leverage and innovation.

  • Net income increased by 24% to CHF 182 million, representing 16.2% of sales.

  • Data center business accounted for 17% of total sales and nearly half of absolute growth, with strong momentum in liquid cooling and global expansion.

  • Board proposes a dividend of CHF 10 per share, payout ratio of 68%.

Financial highlights

  • Sales growth driven by 19.5% volume/mix and 3.6% price increases, offset by -4.5% FX impact.

  • Americas led with 32% local currency growth, EMEA at 12%, Asia Pacific at 29%.

  • Control Valves grew 31%, Damper Actuators 14%, Sensors and Meters 25%.

  • Operational cash flow CHF 185 million; free cash flow CHF 99 million after CapEx.

  • Equity ratio 71%, net liquidity CHF 69 million.

Outlook and guidance

  • Expects mid-teens percentage sales growth in local currencies for 2026, above historical average.

  • EBIT margin expected to remain above 20%, with continued investment in capacity and innovation.

  • Long-term organic growth target remains 9%-11% CAGR.

  • Double-digit growth expected in Americas, with continued data center and retrofit momentum.

  • Capital expenditure to remain elevated as capacity expansion continues.

What specific tech drives data center vertical growth?
How were tariff impacts on margins alleviated in 2025?
Dr. Rigby's key expertise for Belimo's Board?
Data center growth: What constrains deployment?
How do price increases fully offset US tariffs?
Why can't competitors replicate digital platform?
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Frequently asked questions

BELIMO Holding AG is a Swiss company specializing in the development and production of actuators, valves, and sensors for heating, ventilation, and air conditioning (HVAC) systems. The company's products are used to control the flow of air and water in buildings, contributing to efficient energy use and climate control. BELIMO serves a variety of sectors, including commercial buildings, residential properties, and industrial facilities, offering solutions that enhance indoor air quality, energy efficiency, and system reliability. The company is headquartered in Hinwil, Switzerland, and its shares are listed on the SIX.

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