Belimo Holding AG Reports Strong H1 2024 Performance Amid Economic Challenges

Belimo Holding AG has announced solid results for the first half of 2024, aligning with its growth strategy despite mixed economic conditions. The company reported a 9.7% increase in net sales in local currencies compared to H1 2023. In Swiss francs, net sales rose by 5.6% to CHF 473.5 million. Earnings before interest and taxes increased to CHF 93.0 million, resulting in an EBIT margin of 19.6%. Net income reached CHF 77.2 million, with earnings per share at CHF 6.28. Free cash flow was CHF 69.8 million, and the equity ratio stood at 75.3%.

Regionally, the Americas saw the highest growth at 17.6% in local currencies, driven by robust economic conditions and investments in data centers and other sectors. EMEA showed resilience with a 2.0% growth in local currencies despite a challenging environment. Asia Pacific reported a 9.9% sales increase in local currencies, buoyed by recovery in China and sustained growth in India.

By business line, Control Valves led with an 11.9% growth in local currencies. Damper Actuators and Sensors and Meters also saw positive trends, reflecting the company's strong positioning in electronic pressure independent solutions.

Looking ahead, Belimo is optimistic about continued positive development across all regions. The company has raised its full-year sales outlook, expecting growth in local currencies to exceed its long-term average of 9%.

Belimo remains committed to strategic investments, particularly in the energy efficiency and indoor air quality sectors. These efforts are expected to sustain high customer loyalty and long-term growth.