Belimo with solid growth and increased innovative capacity
(Thomson Reuters ONE) -
BELIMO Holding AG /
Belimo with solid growth and increased innovative capacity
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
Belimo can look back at a successful year. Sales in Swiss francs increased 8.2
percent to CHF 533.7 million. In currency-adjusted terms, this equals organic
growth of 6.8 percent. As expected, the higher growth seen in the first half-
year of 2016 could not be continued in the second half. Not only sales growth,
but also continuous investments in efficiency improvements over the past few
years contributed to a solid operating income (EBIT) of CHF 87.0 million (EBIT
margin 16.3 percent). Net income rose by 24.1 percent year-on-year to CHF 69.8
million. Currency effects had a negative impact on the net income of previous
year. Earnings per share were CHF 113.51.
Return on equity (ROE) was 19.8 percent and return on invested capital (ROIC)
23.8 percent. Cash flow from operating activities rose by 28.3 percent to
CHF 90.3 million, the free cash flow by 102.9 percent to CHF 75.2 million. In
the previous year, the investments in the expansion of the logistics building in
Hinwil lowered the free cash flow.
The Board of Directors proposes a dividend of CHF 75 per share to the annual
general meeting on Monday, April 3, 2017.
Regional development:
Europe. Sales in the Europe market region grew by 6.2 percent and in currency-
adjusted terms by 5.3 percent. Germany, the United Kingdom, Italy, the
Netherlands and Poland made excellent contributions to growth. Water
applications saw strong growth. Particularly sales of the new products for zone
and pressure-independent applications developed better than average. For air
applications the market reacted very well to the new product range of fire
damper actuators.
Americas. Sales in the Americas market region grew by 9.4 percent and in
currency-adjusted terms by 7.1 percent. All markets contributed to this positive
result. The HVAC market in the United States and Canada fared better than the
general economy. Among other things, it benefited from continued interest on the
part of facility owners to invest in energy-saving HVAC system upgrades in
existing buildings. Products for air and water applications demonstrated healthy
increases.
Asia/Pacific. Sales in the Asia/Pacific market region grew by 12.5 percent and
in currency-adjusted terms by 12.1 percent. Belimo has achieved good growth in
the entire region in spite of the difficult market environment. Growth was
supported by the increasing number of environmentally friendly new buildings and
the implementation of energy-saving regulations in the region. Performance was
particularly good in India, which benefited from government investments in
infrastructure. In China, the contracting business and regional sales in
Southern China developed very positively. Pressure-independent valves, butterfly
valves and characterized control valves were the main growth contributors in
water applications.
Net sales by region
------------------------------------------------------------
Growth
in CHF 1,000 2016 % in local 2015 %
currencies
in %
------------------------------------------------------------
Europe 259,175 49 5.3 244,029 49
Americas 209,957 39 7.1 191,902 39
Asia/Pacific 64,518 12 12.1 57,368 12
------------------------------------------------------------
Group 533,650 100 6.8 493,299 100
------------------------------------------------------------
Net sales by application
------------------------------------------------------------
Growth
in CHF 1,000 2016 % in local 2015 %
currencies
in %
------------------------------------------------------------
Air 305,911 57 5.7 286,138 58
Water 227,739 43 8.3 207,161 42
------------------------------------------------------------
Total 533,650 100 6.8 493,299 100
------------------------------------------------------------
Innovation. To reach its full potential, the Internet of Things requires a
network of sensors to record and analyze data based on decentralized logic or
cloud technologies. A product range of sensors for air and water applications
will be launched in 2017. Belimo will also soon introduce the third generation
of the Belimo Energy Valve(TM). The integrated cloud function is the most
important innovation. For its use the energy valve is connected to the internet,
which allows an automatic optimization of operations. The new butterfly vales
and PR actuators convince with their reduced weight and their high energy
savings potential compared to similar products. VAV ZoneEase(TM) was developed
for the Asian market. This is a zone solution for demand controlled variable air
volume applications.
Outlook. The long-term trends of urbanization, energy efficiency, safety and
digitization that are affecting building technology will continue and are being
effectively leveraged by Belimo to promote growth. Digital communication with
damper actuators, control valves and sensors will gain in importance, allowing
their efficient integration in building automation. This development is clearly
reflected in the features of the named products that are currently being
launched on the market.
In the Europe market region, the development of the economy as well as private
and public building activities is expected to remain satisfactory in countries
most important to Belimo. Based on various key indicators expectations are
positive for the Americas market region and also in the Asia/Pacific market
region, the trend towards the optimization of operating costs in buildings and
the growing demand for innovative and high-quality components promise a positive
outlook.
Given the strengthening of the sensor product range and the opportunities
offered to Belimo by digitization, expenses for research and development will be
increased in relation to sales in order to improve innovative capacity.
Belimo is aiming for sustainable and profitable growth with its strategy of a
strong regional presence and the constant expansion of its market leadership
through innovation.
Key figures of the Belimo Group for the 2016 financial year
-------------------------------------------------------------------------------
in CHF 1,000 (unless indicated otherwise) 2016 2015 Change
in %
-------------------------------------------------------------------------------
Net sales 533,650 493,299 8.2
-------------------------------------------------------------------------------
Operating income (EBIT) 86,964 74,630 16.5
in percent of net sales 16.3% 15.1%
-------------------------------------------------------------------------------
Net income 69,753 56,229 24.1
in percent of net sales 13.1% 11.4%
-------------------------------------------------------------------------------
Cash flow from operating activities 90,282 70,371 28.3
in percent of net sales 16.9% 14.3%
-------------------------------------------------------------------------------
Free cash flow 75,151 37,038 102.9
in percent of net sales 14.1% 7.5%
-------------------------------------------------------------------------------
Earnings per share, in CHF 113.51 91.52 24.0
-------------------------------------------------------------------------------
Dividend per share, in CHF 75* 65 15.4
-------------------------------------------------------------------------------
Investments in property, plant and equipment and 15,796 34,031 -53.6
intangible assets
-------------------------------------------------------------------------------
Research and development 37,721 34,653 8.9
in percent of net sales 7.1% 7.0%
-------------------------------------------------------------------------------
Number of employees as at December 31 1,440 1,409 2.2
(FTE's)
-------------------------------------------------------------------------------
* Proposal to the annual general meeting on April 3, 2017.
The Belimo Group is a leading global manufacturer of innovative electrical
actuator solutions, valve systems and sensors for heating, ventilation and air
conditioning systems. The Company generated sales of CHF 534 million in 2016 and
employs close to 1500 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).
There will be a media and financial analysts conference on the 2016 financial
statements at the WIDDER HOTEL in Zurich today, starting at 10:00 a.m.
Link to Annual Report 2016 (PDF)
Contact Beat Trutmann, CFO Phone +41 43 843 62 65
Agenda Publication of Annual Report 2016/
Media and Financial Analysts Conference March 13, 2017
Annual General Meeting 2017 April 3, 2017
Dividend Payment April 7, 2017
Publication of Semiannual Report 2017 August 3, 2017
Publication of Sales 2017 January 25, 2018
Publication of Annual Report 2017/
Media and Financial Analysts Conference March 12, 2018
Annual General Meeting 2018 April 9, 2018
The press release can be downloaded from the following link:
Press release (PDF):
http://hugin.info/100133/R/2086820/787437.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BELIMO Holding AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 13.03.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 529640
Anzahl Zeichen: 12120
contact information:
Town:
Hinwil
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 220 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Belimo with solid growth and increased innovative capacity"
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).
