EQS Group-Ad-hoc: Belimo Holding AG / Key word(s): Annual Results Hinwil (Switzerland), EMBARGOED UNTIL March 8, 2021, 07:00 a.m. CET Press Release of the Belimo Group Belimo: Maintaining Long-Term Focus in Challenging 2020 Belimo performed well in a highly uncertain environment and a contracting HVAC market. The Group managed to maintain sales in local currencies and expand market shares across regions. The Board of Directors proposes a dividend of CHF 150.00 per share at the 2021 Annual General Meeting. To facilitate employees' access to the Employee Share Purchase Plan (ESPP) and to increase the marketability of the shares, the Board of Directors proposes to split the existing 615,000 registered shares at a nominal value of CHF 1.00 each on a twenty-for-one basis, resulting in 12,300,000 registered shares at a nominal value of CHF 0.05 each. Europe. In the market region Europe, the Group registered net sales of CHF 322.3 million, corresponding to an increase in local currencies of 1.8 percent in comparison with the previous year (-2.0 percent in Swiss francs). The economic situation in Europe has gained noticeable momentum in the second half-year. In its largest market region, Belimo grew faster than the contracting HVAC market. Americas. In the Americas, the Group registered net sales of CHF 253.9 million, which corresponds to a decline of 1.8 percent in local currencies (-7.0 percent in Swiss francs). The pandemic has led to a contraction of most economies. Similarly, the HVAC market has been negatively impacted throughout the region, as most countries experienced disruptions. In the US, sales contracted due to overall HVAC market headwinds driven by COVID-19. Projects were delayed due to lockdown measures and the retrofit market was impacted by restricted access to buildings. Asia Pacific. In the Asia Pacific market region, Belimo recorded CHF 85.1 million in sales, corresponding to a decrease of 1.1 percent in local currencies (-6.6 percent in Swiss francs). Belimo China sales profited from the quick containment of the virus, leading to a double-digit sales growth from April to October in local currencies. Net Sales by Market Regions
Growth Strategy and Innovation. In 2020, Belimo focused on pursuing its strategic initiatives, strengthened its global market leadership, and expanded its sensor offering by completing a bolt-on acquisition. Grow Existing Business with Actuators and Valves. In its first growth initiative, Belimo successfully expanded its market share across regions, accelerated its presence in key markets, and further strengthened its global market leadership. Belimo expanded its expertise in Indoor Air Quality (IAQ) along with the "Seven Essentials of Healthy Indoor Air" to respond to the demand for healthy indoor spaces. For that purpose, Belimo is leading an international team of internal and external industry experts including medical doctors (find more information on www.belimo.com). Enter Sensor Business. In 2020, a newly developed range of room sensors was launched: An innovative range of IAQ sensors that can be wirelessly configured with the Belimo Assistant App for quick commissioning. Also, Belimo completed a bolt-on acquisition of Montreal-based air quality and gas sensors specialist Opera Electronics Inc. Core applications include vehicle emissions monitoring in car parks, refrigeration gas leak detection and combustible gas monitoring in HVAC plant rooms. Net Sales by Applications
Outlook 2021. The effects of the pandemic and an increased consciousness for indoor air quality are projected to affect all construction projects in the long run. Many HVAC systems in existing buildings should be retrofitted for healthy indoor air. Furthermore, new building codes and government-funded programs such as the EU Climate Target Plan 2030 that should reduce buildings "greenhouse gas emissions by 60 percent and energy consumption for heating and cooling by 18 percent"[1]. The output for non-residential construction is forecasted to return to growth in Europe. The pandemic is likely to continue to hurt economic activity throughout the Americas market region during the first half of 2021. In most countries in the Asia Pacific market region, the commercial building market is expected to remain sluggish throughout 2021. In China, the market outlook for the sectors healthcare, warehousing/logistics, datacenters and public transportation is strong. The Indian market is bound to recover in 2021. On balance, Belimo expects sales revenue growth in local currencies to pick up over the course of the year, completing with an annual growth rate slightly below its five-year average. This is due to the continued negative impact by the pandemic in the first half year and a strong comparative baseline in the first quarter. Persisting unfavorable exchange rates are likely to weigh negatively on profitability in 2021. Despite the hampered sales revenue growth outlook, Belimo pursues its long-term growth strategy, allocating significant resources for research, development and sales network expansion. Key Figures of the Belimo Group for the 2020 Financial Year
* Proposal to the Annual General Meeting on March 29, 2021.
[1] Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions: "A Renovation Wave for Europe - Greening our buildings, creating jobs, improving lives", SWD(2020) 550 final, October 2020. End of ad hoc announcement |
Language: | English |
Company: | Belimo Holding AG |
Brunnenbachstrasse 1 | |
8340 Hinwil | |
Switzerland | |
Phone: | +41 43 843 63 80 |
Fax: | +41 43 843 62 41 |
E-mail: | ir@belimo.ch |
Internet: | www.belimo.com |
ISIN: | CH0001503199 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1173661 |
End of Announcement | EQS Group News Service |
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1173661 08-March-2021 CET/CEST