Belimo with solid growth
(Thomson Reuters ONE) -
BELIMO Holding AG /
Belimo with solid growth
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The issuer is solely responsible for the content of this announcement.
In the first half-year 2017, the Belimo Group increased its sales by 5.3 percent
to CHF 288.5 million, adjusted for currencies by 5.6 percent.
Operating income before interest and taxes (EBIT) amounted to CHF 49.1 million
in the first half-year 2017, which equates to an operating margin of 17.0
percent (comparison period 2016 17.1 percent). Net income amounted to CHF 38.4
million (CHF 37.8 million).
Europe. Sales in the market region Europe grew by 3.0, or 5.3 percent on a
currency-adjusted basis. The market for heating, ventilation, and air
conditioning applications (HVAC) demonstrated steady demand. The Netherlands,
Germany, Italy, and Spain contributed significantly to growth. A rise in
investments was seen in the Middle East, which had a positive impact on sales in
Saudi Arabia. The satisfactory growth in Russia suggests an economic upturn.
The growth is primarily due to the rising demand for water applications as a
result of strong business with the contracting customer segment. Innovative
products like the Belimo Energy Valve(TM )and zone application Belimo
ZoneTight(TM) were in particularly high demand.
Americas. Sales in the market region Americas grew by 6.8, or 4.6 percent on a
currency-adjusted basis. In the United States and Canada, the Belimo Group
profited from the continued strong demand for energy-saving HVAC systems.
The product range, which is specifically aligned with the market, and the launch
of the next generation of the Belimo Energy Valve(TM) strengthened the market
position of Belimo in the region. The response of the North American market to
the launch of the new range of sensors was also positive. The product range
expansion with the room and zone application Belimo ZoneTight(TM) triggered
further growth momentum.
Asia Pacific. Sales in the market region Asia Pacific grew by 10.2, or 10.9
percent on a currency-adjusted basis.
The trend towards energy-efficient buildings and the rapid pace of urbanization
were the main growth drivers in the region.
China, Australia, Hong Kong, India and South Korea contributed significantly to
the growth in the region. Water applications enjoyed rising demand, in
particular. Hong Kong and South Korea benefited from various major projects with
high demand for pressure-independent control valves.
Net sales by market regions
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1st half Growth 1st half
in CHF 1,000 2017 % in local 2016 %
currencies in %
-------------------------------------------------------------------
Europe 137,302 48 5.3 133,292 49
Americas 116,675 40 4.6 109,262 40
Asia Pacific 34,506 12 10.9 31,302 11
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Group 288,483 100 5.6 273,856 100
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Net sales by applications
-------------------------------------------------------------------
1st half Growth 1st half
in CHF 1,000 2017 % in local 2016 %
currencies in %
-------------------------------------------------------------------
Air 164,129 57 4.9 157,387 57
Water 124,354 43 6.6 116,469 43
-------------------------------------------------------------------
Total 288,483 100 5.6 273,856 100
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Outlook. On the whole, sales are expected to further develop positively in the
second half-year 2017. In the market region Europe, Belimo expects construction
activity in key countries to continue developing satisfactorily. However, the
current political situation in the Middle East is causing uncertainty. The
market region Americas is also set to develop well up to the end of the year.
Forecasts for the construction industry are satisfying in the market region Asia
Pacific.
The goal of Belimo remains sustainable market development, so that it can focus
on raising comfort, energy efficiency and safety in buildings.
Belimo Group key figures
-------------------------------------------------------------------------------
in CHF 1,000 (unless indicated otherwise) 1st half 1st half Change
2017 2016 in %
-------------------------------------------------------------------------------
Net sales 288,483 273,856 5.3
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Operating income (EBIT) 49,066 46,914 4.6
in percent of net sales 17.0% 17.1%
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Net income 38,350 37,772 1.5
in percent of net sales 13.3% 13.8%
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Cash flow from operating activities 35,319 50,842 -30.5
in percent of net sales 12.2% 18.6%
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Free cash flow 24,108 44,709 -46.1
in percent of net sales 8.4% 16.3%
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Earnings per share, in CHF 62.40 61.47 1.5
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Investments in property, plant and equipment and 11,382 6,270 81.5
intangible assets
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Number of employees 1,452 1,401 3.6
(FTE's, six-month average)
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The Belimo Group is a leading global manufacturer of innovative electrical
actuator, valve, and sensor solutions for heating, ventilation, and air
conditioning systems. The Company reported sales of CHF 534 million in 2016 and
has around 1,550 employees. 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 Semiannual Report 2017: www.belimo.com/financial-reports
Contact Beat Trutmann, CFO Phone +41 43 843 62 65
Agenda 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/2125051/810964.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: 03.08.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 555131
Anzahl Zeichen: 8884
contact information:
Town:
Hinwil
Kategorie:
Business News
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"Belimo with solid growth"
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