BELIMO (BEAN) Trading Update summary

Business performance and growth drivers

• Achieved Q1 net sales growth of 21.8% in local currencies and 23.6% in CHF, reaching CHF 275.8 million.

• Strongest growth in the Americas, driven by data center cooling solutions and increased market share in high-end applications.

• EMEA region saw growth from data center orders and RetroFIT+ projects, despite a mixed outlook for new non-residential construction.

• Asia Pacific outperformed, with China and India leading due to robust data center and vertical market demand.

Strategic initiatives and operational responses

• Extraordinary price increases planned from July to offset new tariffs and protect margins.

• Expansion of Americas Headquarters in Danbury, CT, to boost flexibility and capacity amid strong demand.

Upgraded outlook for FY2025

• Sales growth in local currencies now expected at 15-20%, up from a slight exceedance of the five-year average.

• EBIT margin forecast raised to above 20%, compared to previous guidance of 18-20%.

• Outlook assumes current exchange rates; further USD weakness could prompt reassessment.