BELIMO (BEAN) Q4 2025 TU earnings summary

Executive summary

• Achieved 23.3% year-over-year sales growth in local currencies, reaching CHF 1,121 million in 2025, driven by strong demand in data centers, pharmaceuticals, high-end semiconductors, and traditional HVAC, as well as execution of growth strategy and RetroFIT+ initiative.

• Growth was broad-based across all geographies and business lines, with significant contributions from data center cooling solutions and renovations.

• Leveraged agile business model, expanded global organization, and launched new digital product generation, including sensor-actuator integrated solutions.

• Navigated geopolitical challenges and tariffs by sharing impacts with customers and maintaining delivery commitments.

• Expanded production capacity in China, Switzerland, and the Americas to support growth and supply chain resilience.

Financial highlights

• Net sales increased to CHF 1,121 million in 2025 from CHF 944 million in 2024, representing 23.3% growth in local currencies and 18.7% in Swiss francs.

• Volume/mix accounted for 19.5% of growth, with 3.6% from price increases, especially in the second half to offset tariffs.

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

• CAGR of 12.5% in local currencies from 2020 to 2024; 10.3% CAGR from 2005 to 2025.

Outlook and guidance

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

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

• New climate targets validated by SBTi, aiming for significant reductions in scope 1, 2, and 3 emissions by 2030 and 2050.

• Full-year outlook to be published in February.