BELIMO (BEAN) Q4 2025 TU earnings summary

Executive summary

• Achieved 23.3% year-over-year sales growth in local currencies in 2025, reaching CHF 1,121 million, driven by strong performance in data centers, traditional HVAC, and renovation initiatives like RetroFIT+.

• Growth was broad-based across all geographies and business lines, supported by agile business model, capacity expansion, and new product launches.

• Navigated geopolitical and economic challenges, including tariffs and currency fluctuations, by sharing impacts with customers and maintaining delivery commitments.

• Invested in digital product generation, data center organization, and APAC market expansion.

• SBTi climate targets validated, aiming for significant emissions reductions by 2030 and 2050.

Financial highlights

• Net sales increased to CHF 1,121 million in 2025, up 23.3% in local currencies and 18.7% in CHF year-over-year.

• Volume/mix accounted for 19.5% of growth, price for 3.6%, with higher price impact in H2 due to U.S. tariff-related increases.

• Negative FX impact of 4.5% due to weaker USD and EUR against CHF.

• CAGR of 10.3% over the past 20 years and 12.5% in local currencies from 2020 to 2024.

• Data center revenue reached CHF 190 million, about 17% of total sales.

Outlook and guidance

• Data center business and digitalization expected to continue supporting growth in 2026.

• Further deployments and capacity additions anticipated, especially on the server side.

• Full year outlook to be published in February; forward-looking statements subject to economic, currency, and competitive risks.

• On track with capacity expansion and SBTi-validated climate targets.