Belimo: Solid sales and income
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Press Release Belimo Group Semiannual Report 2009The Belimo Group, a global leader in actuator solutions forregulating and controlling heating, ventilation and air conditioningsystems, felt the effects of the financial crisis and recession inthe first half-year. As a result, the Group was unable to sustain thegrowth experienced in previous years.Sales in first-half 2009 were CHF 190.1 million, down 5.0 percentyear-on-year. Adjusted for currency, this is equivalent to a declineof 3.3 percent.The operating margin (EBIT margin) was 14.8 percent in the first half(comparison period 2008 15.6 percent). Thanks to the good financialresult, which benefited from the favorable exchange rate development,net income improved by 3.1 percent to CHF 22.8 million.The sales trend in the Americas and Asia/Pacific remains positive.Measured in local currencies, the change year-on-year was -7.1percent for Europe, 1.3 percent for the Americas and 5.7 percent forAsia/Pacific. Converted to Swiss francs, the breakdown of sales bymarket regions is 54 percent for Europe, 38 percent for the Americasand 8 percent for Asia/Pacific.Expressed in local currencies, sales of air applications fell by 8.0percent, while sales of water applications were up 6.1 percent.Since demand picked up in the second quarter, it has not beennecessary so far to introduce short-time working as previouslyannounced in the press release of April 23, 2009.EuropeIn most Central European countries, the markets are stable or only inslight decline. However, sales in Southern and Eastern Europe, havedecreased considerably, with Spain and Italy particularly being hitby the crisis. In Russia and Ukraine, many major projects have beendiscontinued for the time being.Efforts were intensified to identify and target constructionprojects, which proved successful in the case of the Airrail Centerin Frankfurt, the largest construction site in Europe, where Belimoactuators and valves will be installed.AmericasDespite the already lengthy recession, the Americas division was ableto maintain sales at the previous-year level. Sales of actuators forfire protection and smoke extraction continued to grow almostunchecked, as did sales of water applications. The market forreplacements is also continuing to grow. The government's subsidyprograms have not had any significant impact thus far. OEM businessin ventilation systems has diminished noticeably due to the declinein construction of utility buildings.Asia/PacificMarket conditions improved towards the middle of the year, but theyare still not at last year's level. Against this economic backdrop,Belimo Asia/Pacific performed well. China, India, South East Asia andAustralia reported slightly better sales year-on-year, but sales inJapan fell.in CHF 1'000 1st half 2009 % share 1st half 2008 % shareEurope 102'616 54 117'399 59Americas 71'673 38 68'276 34Asia/Pacific 15'769 8 14'405 7Total 190'058 100 200'080 100Air applicationsDevelopment and field tests of the new range of spring actuators arealmost complete. Beginning fall 2009, Belimo will start to replacethe existing successful range with a substantially more efficientgroup of products.The new actuator platform (Eco) enables electronic controls to beintegrated in Belimo actuators, in close collaboration with OEMcustomers. The third-generation of Belimo air flow sensor (D3) hasbeen successfully introduced in the first volume flow devices, thusopening up new fields of application.Water applicationsWe are continuously expanding the range of valves and improvingtechnical specifications, thus enabling us to steadily expand thearea of application. In spring 2009, a revolutionary 6-way ball valvewas presented for the first time at the ISH trade fair in Frankfurt.This offers Belimo customers optimum value for money in variousapplications with great potential, such as cooling ceilings.in CHF 1'000 1st half 2009 % share 1st half 2008 % shareAir applications 119'795 63 133'856 67Water applications 70'263 37 66'224 33Total 190'058 100 200'080 100OutlookThe outlook is still uncertain. On the one hand, the recession hashad a substantial impact on the construction industry, and OEMcustomers are feeling the effects of falling demand for utilitybuildings. On the other hand, the impact of subsidies and the will tomake building technology more energy-efficient are likely to gain inimportance over the next few months.The Board of Directors is confident that Belimo can take advantage ofthese new trends and is well equipped to benefit from the numerousopportunities emerging in the future thanks to our undiminishedcapacity for innovation. Belimo is strong enough to endure difficulttimes unscathed and will continue to focus on achieving a solidoperating margin.Belimo Group key datain CHF 1'000 1st half 1st half Change 2009 2008 in %Net sales 190'058 200'080 -5.0Operating income before interest, 34'813 37'637 -7.5taxes, depreciation and amortization 18.3% 18.8%(EBITDA)in percent of net salesOperating income before interest and taxes 28'199 31'274 -9.8(EBIT) 14.8% 15.6%in percent of net salesNet income 22'766 22'089 3.1in percent of net sales 12.0% 11.0%Capital expenditures 4'665 4'051 15.1Cash flow from operating activities 39'805 34'199 16.4Free cash flow 33'923 30'678 10.6Earnings per share in CHF 37.59 36.20 3.8Employees (FTEs, six-month average) 1'073 1'025 4.7The Belimo Group is a leading global manufacturer of innovativeactuator solutions for heating, ventilation and air-conditioningsystems. The Group generated sales of CHF 404 million in 2008 andemploys more than 1100 people. For information on the company and itsproducts, visit www.belimo.com.The shares of BELIMO Holding AG have been traded on SIX SwissExchange since 1995 (BEAN).Contact Beat Trutmann, CFO Phone +41 (0)43 843 62 65Key dates Publication of preliminary results February 2010 for 2009 Annual results media briefing March 8, 2010 session General Meeting March 29, 2010The Semiannual Report 2009 can be downloaded from the following link:http://hugin.info/100133/R/1331978/315376.pdfThe press release can be downloaded from the following link:http://hugin.info/100133/R/1331978/315380.pdf --- End of Message ---BELIMO Holding AGBrunnenbachstrasse 1 Hinwil WKN: 897962; ISIN: CH0001503199; Index: SPI, SPIEX, SSCI;Listed: Main Market in SIX Swiss Exchange;
Datum: 04.08.2009 - 07:01 Uhr
Sprache: Deutsch
News-ID 4295
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 400 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Belimo: Solid sales and income"
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).
