BELIMO (BEAN) H1 2026 earnings summary

Executive summary

• Achieved sales growth of 29.6% in local currencies (20.5% in CHF), reaching CHF 676.4 million in H1 2026, driven by strong demand in data centers, renovation, and traditional HVAC segments.

• EBIT rose 19.1% to CHF 152.5 million, with a margin of 22.5%; net income increased 23.3% to CHF 124.9 million.

• Growth supported by megatrends such as urbanization, energy efficiency, digitalization, and surging data center demand.

• All geographic regions contributed, with Americas and Asia Pacific showing particularly strong momentum.

• Continued investment in R&D, capacity expansion in Switzerland and the US, and innovation in data center solutions.

Financial highlights

• Net sales: CHF 676.4 million, up 29.6% in local currencies and 20.5% in CHF year-over-year.

• EBIT: CHF 152.5 million (+19.1% YoY), EBIT margin 22.5%.

• Net income: CHF 124.9 million (+23.3% YoY).

• Operating cash flow: CHF 83.8 million, impacted by higher working capital and CapEx.

• Capex increased to CHF 45.4 million, reflecting ongoing facility expansion.

Outlook and guidance

• Continued strong demand expected in H2 2026 for both traditional HVAC and data center segments, though YoY sales growth rate will moderate due to base effects and pricing annualization.

• EBIT margin expected to remain above 20% for full year 2026, despite higher cost base from capacity ramp-up and FX volatility.

• No quantitative top-line guidance due to market volatility and data center deployment uncertainties.

• Data center share of sales expected to increase further in H2.

• Continued investment in capacity expansion and growth initiatives, maintaining elevated CapEx levels.