BELIMO Holding AG: Stronger growth in the second half-year
OREANDA-NEWS. 2015 was very challenging for the Swiss economy. Both, the unexpected abandonment of the minimum exchange rate against the euro, and subsequent strong appreciation of the Swiss franc and the partly difficult market environment in Eastern Europe had a negative impact on the sales growth and profitability of the Belimo Group.
Under these circumstances it is pleasing that Belimo was able to hold net sales in Swiss francs on previous year level at CHF 493.3 million (with growth of 3.6 percent in local currencies). The Americas and Asia/Pacific achieved higher sales in the second half-year compared to the first, while Europe stagnated.
Adjusted for currencies, sales in Europe were down 0.9 percent; the Americas grew by 9.7 percent and Asia/Pacific by 7.2 percent. Water applications rose by 8.9 percent on a currency-adjusted basis whereas air applications were on the same level as previous year.
Based on preliminary figures, the Belimo Group expects an operating income (EBIT) of around CHF 74 million (first half 2015 CHF 35.8 million; previous year CHF 81.3 million) and a net income of approximately CHF 56 million (first half 2015 CHF 23.0 million; previous year CHF 67.2 million).
Detailed information on the 2015 reporting year will be announced at the media information session on Monday, March 21, 2016.
The Belimo Group is a leading global manufacturer of innovative electrical actuator solutions and valve systems for heating, ventilation and air-conditioning systems. The Group generated sales of CHF 493 million in 2015 and employs close to 1470 people.
The shares of BELIMO Holding AG have been traded on SIX Swiss Exchange since 1995 (BEAN).