Media information on Belimo Group results for t...
Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
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Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
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Belimo demonstrates strong growth in sales and profits
The Belimo Group, a global leader in electrical actuators for
heating, ventilation and air conditioning systems, can look back on a
successful year in 2007. The company grew faster than the market in
all regions. At the same time, profitability was further increased.
Net sales in Swiss francs rose by 14.4 percent to CHF 372 million.
Earnings before interest and tax (EBIT) improved to CHF 57.5 million,
representing an operating profit margin of 15.5 percent (previous
year 15.0 percent). Net income also increased significantly by 18.1
percent to CHF 46.1 million. The return on equity came to 31.1
percent (previous year 26.2 percent).
The Board of Directors will propose a dividend of CHF 45.-- per share
to the Annual General Meeting on April 21, 2008.
As a result of the share buyback programme that was completed in
September 2007, the Board of Directors will also propose to the
Annual General Meeting that 35 000 registered shares be cancelled,
thereby reducing the share capital to CHF 615 000.
Growth in all markets
Central Europe made a noticeable recovery, which had a positive
effect on our business. We steadily expanded our existing strong
position in East European countries. Thanks to the expansion of our
distribution network and increased customer loyalty, we also
succeeded in making significant improvements in our market position
in Asia/Pacific. The Americas, too, achieved excellent growth rates -
markedly higher in individual areas.
Net sales by market
in CHF 1000s 2007 % 2006 %
Europe 206'150 56 175'402 54
Americas 139'047 37 128'375 39
Asia/Pacific 26'623 7 21'311 7
Total 371'820 100 325'089 100
Net sales in local currencies rose in Europe by 14.7 percent, in the
Americas by 12.6 percent and in Asia/Pacific by around 28.7 percent.
Overall, this gives an increase of 14.8 percent.
Net sales by application sector
in CHF 1000s 2007 % 2006 %
Air applications 248'407 67 220'057 68
Water applications 123'413 33 105'032 32
Total 371'820 100 325'089 100
Expressed in local currencies, sales of air applications grew by 12.4
percent and sales of water applications were up 19.7 percent.
Strengthening innovation
Belimo is keen to further strengthen its innovative capacity and
modified its organisational structure on January 1, 2008. The
previous Technology unit has now been integrated into the three group
divisions: Innovation, Production and Customizing/Distribution.
The assortment of safety-related actuators is being redesigned and
equipped with the latest motor technology and microelectronics.
Further potential in the area of actuator and valve technology is
being systematically examined and explored. Sensor technology will
gain increasing importance as a complement to actuators.
Outlook 2008
The Belimo Group will continue to make substantial investments in
research and development and constantly expand sales channels in
attractive new markets in 2008. Despite the current credit crisis and
fears of recession, we expect our business activities, which relate
almost entirely to commercial construction, to perform well. The
Belimo Group is confident that it will be able to continue its growth
strategy successfully in 2008.
Key figures of the Belimo Group for the 2007 financial year
+-------------------------------------------------------------------+
| | 2007 | 2006 | Change |
| in CHF 1000s | | | in % |
|-------------------------+-------------+--------------+------------|
| | 371'820 | 325'089 | 14.4 |
| Net sales | | | |
|-------------------------+-------------+--------------+------------|
| Operating income (EBIT) | 57'477 | 48'752 | |
| - as a percentage of | 15.5% | 15.0% | 17.9 |
| net sales | | | |
|-------------------------+-------------+--------------+------------|
| | | | |
| Net income | 46'090 | 39'026 | 18.1 |
| - as a percentage of | 12.4% | 12.0% | |
| net sales | | | |
|-------------------------+-------------+--------------+------------|
| | | | |
| Earnings per share in | 73.08 | 60.87 | 20.1 |
| CHF | | | |
| | | | |
|-------------------------+-------------+--------------+------------|
| | | | |
| Dividend per share in | | | |
| CHF | *45 | 30 | 15.4 |
| Nominal capital | | 9 | |
| repayment in CHF | | | |
| | | | |
|-------------------------+-------------+--------------+------------|
| Investments | 13'963 | 9'558 | 46.1 |
|-------------------------+-------------+--------------+------------|
| | | | |
| Research and | | | |
| development expenditure | 22'507 | 18'875 | 19.2 |
| - as a percentage of | 6.1% | 5.8% | |
| net sales | | | |
| | | | |
|-------------------------+-------------+--------------+------------|
| | | | |
| Employees (FTEs, | 970 | 891 | 8.9 |
| average) | | | |
| | | | |
+-------------------------------------------------------------------+
* Proposal to the Annual General Meeting on April 21, 2008
The Belimo Group is a leading global manufacturer of innovative
electrical actuator solutions in heating, ventilation and air
conditioning systems. The Group achieved sales of CHF 372 million in
2007 and employs more than 1000 people. Information regarding the
Company and its products is available on the internet at
www.belimo.com.
The shares of BELIMO Holding AG have been traded on the Swiss Stock
Exchange since 1995
(SWX: BEAN).
There will be a media information session on the 2007 financial
statements in the WIDDER HOTEL in
Zurich today, starting at 10.30 am.
Contact Beat Trutmann, CFO Tel. +41 (0)43
843 62 65
Agenda Annual General Meeting April 21, 2008
Semiannual results and shareholder August 2008
letter
Publication of preliminary results for February 2009
2008
Year-end media information session March 16, 2009
Annual General Meeting April 27, 2009
The Annual Report 2007 can be downloaded from the following link:
http://hugin.info/100133/R/1201454/245731.pdf
The press release can be downloaded from the following link:
--- End of Message ---
BELIMO Holding AG
Brunnenbachstrasse 1 Hinwil
WKN: 897962; ISIN:
CH0001503199; Index: SPI, SPIEX, SSCI;
Listed: Main Market in SWX Swiss Exchange;
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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