BELIMO (BEAN) Q4 2025 TU earnings summary

Executive summary

• Achieved 23.3% year-over-year sales growth in local currencies, reaching CHF 1,121 million in 2025, driven by strong performance in both traditional HVAC and data center verticals, as well as execution of growth strategy and RetroFIT+ initiatives.

• Leveraged agile business model, expanded global organization, and invested in digital product platforms, with notable capacity expansion and new product launches.

• Gained momentum in renovations and high-end verticals, supported by the RetroFIT+ initiative and energy efficiency trends.

• Expanded market reach in APAC, inaugurated new facilities in China, and increased capacity in Switzerland and the Americas.

• SBTi climate targets validated, aiming for substantial reductions in Scope 1, 2, and 3 emissions by 2030 and 2050.

Financial highlights

• Net sales increased to CHF 1,121 million in 2025 from CHF 944 million in 2024, representing 23.3% growth in local currencies and 18.7% in CHF year-over-year.

• Volume and mix contributed 19.5% to growth, with 3.6% from price increases, especially in the U.S. to offset tariffs.

• Negative FX impact of 4.5% due to weakening USD and EUR against CHF.

• Data center revenue reached CHF 190 million, accounting for 17% of total sales and contributing to nearly half of total sales growth.

• CAGR of 12.5% in local currencies from 2020 to 2024; 10.3% over 20 years.

Outlook and guidance

• Expect continued growth in data center business and further deployments to support overall growth in 2026.

• Ongoing transition to new digital product platforms, with higher volume products to be replaced over the next few years.

• On track with capacity expansion and regional customization to support future growth and mitigate tariff risks.

• No major impact anticipated from new building regulations; focus remains on upgrading existing buildings.

• Forward-looking statements caution that actual results may differ due to economic, currency, and competitive risks.