Belimo posts solid growth and a strong profit trend
(Thomson Reuters ONE) -
BELIMO Holding AG /
Belimo posts solid growth and a strong profit trend
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
The Belimo Group increased its sales in the first half-year 2013 by 8.8 percent
(7.7 percent on a currency-adjusted basis) to CHF 236.8 million. The operating
margin before interest and taxes (EBIT margin) was 17.8 percent (comparison
period 2012* 16.5 percent). Belimo's net income rose by 13.4 percent to CHF
33.5 million (comparison period 2012*
CHF 29.6 million).
Europe
The Europe market region grew by 9.6 percent (8.4 percent on a currency-adjusted
basis). The markets of the Baltic States, Germany, France, Russia, Switzerland
and Austria performed very well and made a major contribution to growth. Poland,
Turkey and the Czech Republic also achieved high sales levels. Scandinavia and
the Middle East were below expectations.
The actuators for fire protection applications and air dampers showed solid
growth. Belimo doubled the sales of 6-way valves.
Americas
The Americas market region saw an improvement in the first half-year of 5.8
percent (5.0 percent on a currency-adjusted basis). Sales increased in all
regions, whereat Canada and Latin America posted double-digit growth rates.
The first ZIP Economizers(TM) were delivered earlier this year. In addition, a
new generation of the actuator product range for globe valves was introduced in
the market.
Asia/Pacific
The Asia/Pacific market region increased its sales in the first half-year by
16.4 percent (14.5 percent on a currency-adjusted basis). China, India and South
Korea were very successful. Australia was below expectations.
Net sales by region
Growth
in CHF 1,000 1st half Share in in local cur- 1st half Share in
2013 % rencies in % 2012 %
---------------------------------------------------------------------------
Europe 128,362 54 8.4 117,160 54
Americas 83,698 36 5.0 79,139 36
Asia/Pacific 24,717 10 14.5 21,242 10
---------------------------------------------------------------------------
Group 236,777 100 7.7 217,541 100
---------------------------------------------------------------------------
Net sales by application
Growth
1st half Share in in local 1st half Share in
in CHF 1,000 2013 % currencies 2012 %
in %
------------------------------------------------------------------------
Air 145,800 62 7.7 133,831 62
Water 90,977 38 7.8 83,710 38
------------------------------------------------------------------------
Total 236,777 100 7.7 217,541 100
------------------------------------------------------------------------
* Restatement due to the revised accounting standard IAS 19 Employee Benefits.
Outlook
In Europe, Belimo assumes a robust development of building investments. In the
United States, the construction industry in the commercial sector should improve
thanks to the economic recovery. However, cutbacks in government spending are
also counteracting this trend. Belimo expects Asia to develop on a continuously
positive path. India and China will be the main pillars of growth in this
region. Overall, Belimo should be able to continue ahead on its stable expansion
path combined with a solid profit trend.
Belimo Group key figures
in CHF 1,000 (unless specified otherwise) 1st half 1st half Change
2013 2012 restated* in %
-------------------------------------------------------------------------
Net sales 236,777 217,541 8.8
-------------------------------------------------------------------------
Operating income (EBIT) 42,184 35,978 17.2
in percent of net sales 17.8% 16.5%
-------------------------------------------------------------------------
Net income 33,530 29,567 13.4
in percent of net sales 14.2% 13.6%
-------------------------------------------------------------------------
Cash flow from operating activities 37,333 41,084 -9.1
in percent of net sales 15.8% 18.9%
-------------------------------------------------------------------------
Free cash flow 28,046 29,493 -4.9
in percent of net sales 11.8% 13.6%
-------------------------------------------------------------------------
Earnings per share, in CHF 54.96 48.48 13.4
-------------------------------------------------------------------------
Investments 9,418 12,377 -23.9
-------------------------------------------------------------------------
Number of employees 1,252 1,187 5.5
(FTEs, six-month average)
-------------------------------------------------------------------------
* Restatement due to the revised accounting standard IAS 19 Employee Benefits
(see note 1.4, pages 9 to 12 in the Semiannual Report 2013).
The Belimo Group is a leading global manufacturer of innovative electrical
actuator solutions for heating, ventilation and air-conditioning systems. The
Group generated sales of CHF 445 million in 2012 and employs more than 1,300
people. Information about the company and its products is available on the
internet at www.belimo.com/investorrelations.
The shares of BELIMO Holding AG have been traded on the SIX Swiss Exchange since
1995 (BEAN).
Link to the 2013 Semiannual Report (PDF)
Contact Beat Trutmann, CFO Phone +41 43 843 62 65
Key dates Semiannual Report 2013 August 6, 2013
Publication of 2013 preliminary results February 12, 2014
Media information session/
Publication of 2013 Annual Report March 17, 2014
Annual General Meeting 2014 April 14, 2014
The press release can be downloaded from the following link:
Press release (PDF):
http://hugin.info/100133/R/1721097/573142.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BELIMO Holding AG via Thomson Reuters ONE
[HUG#1721097]
Unternehmensinformation / Kurzprofil:
Datum: 06.08.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 284817
Anzahl Zeichen: 8105
contact information:
Town:
Hinwil
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 141 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Belimo posts solid growth and a strong profit trend"
steht unter der journalistisch-redaktionellen Verantwortung von
BELIMO Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
