Quick Facts
- Belimo Holding is the latest addition to the Obermatt Swiss Pearls Index ETP (Ticker: OMSP1).
- Belimo develops and produces electric actuators, control valves and sensors for heating, ventilation and air conditioning (HVAC) systems. These devices ensure precise control of the indoor climate and high energy efficiency in buildings worldwide.
- The head office is located in Hinwil (Switzerland). Belimo has an international presence with subsidiaries and sales offices in Europe, North America and Asia-Pacific.
Pros
- Leading global market position: Belimo is a global market leader in actuator, valve solutions and sensors for building automation. ✔
- Broad positioning: The company generates sales in Europe, America and Asia and serves a wide range of customers from office buildings to data centers. This broad positioning reduces dependence on individual markets or regions and gives the business a more robust basis. ✔
- Long-term growth drivers: Megatrends such as energy efficiency, sustainable construction, urbanization and the digitalization of buildings ensure sustained demand for Belimo products. ✔
Cons
- Cyclical construction activity: Demand for Belimo components depends in part on construction and renovation cycles. In saturated core markets or during economic downturns, growth can temporarily come to a standstill. ❌
- Intense competition & pressure to innovate: Belimo operates in a highly competitive global building automation market, which creates price pressure and requires continuous product innovation. ❌
Belimo has been developing and producing technologies that control and optimize the indoor climate in buildings since 1975. The company's electric actuators and valves control, for example, the air flaps of ventilation systems or the flow of water in heating and cooling systems, while sensors monitor temperatures, pressures or air quality. This allows office buildings, industrial plants, data centers or hospitals to precisely control their indoor climate, save energy and increase comfort.
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Belimo primarily supplies professional customers, such as manufacturers of HVAC systems (HVAC stands for heating, ventilation, air conditioning) and maintenance companies that integrate Belimo components into their systems, as well as building operators around the globe. With its technological innovation and clear focus on the specific requirements of the industry, Belimo has established itself as a reliable partner in building automation.
The company is one of the world's leading suppliers in its market segment. With a broad product portfolio, high quality and a consistent customer focus, Belimo has been able to sustain its position in a challenging environment. In particular, the ability to offer both standardized solutions and customer-specific adaptations gives Belimo a competitive advantage over many of its competitors. In addition, Belimo began early on to expand its product range beyond classic actuators, for example to include sensors, meters and IoT-enabled devices - and thus covers a comprehensive range of field devices for building control. This strengthens its position as a one-stop provider and increases the added value for customers who receive complete solutions from a single source.
Belimo's broad international presence ensures diversification and stability. Sales are split equally between America and EMEA (Europe, Middle East, Africa), closely followed by the Asia-Pacific region. This global focus reduces dependence on individual economies or construction cycles. If new construction slows down in Europe, for example, growth in North America or Asia can partially compensate for this. Belimo also serves different end markets: from commercial office buildings to public buildings (such as hospitals and schools) and data centers. The latter are becoming increasingly important with digitalization, as data centers for artificial intelligence and cloud services have an enormous cooling requirement, a need that Belimo addresses with specialized solutions. This broad positioning gives Belimo a relatively stable sales base and the ability to adapt flexibly to market changes.
Belimo offers investors the opportunity to participate in the global transformation towards energy-efficient, smart buildings. The company impresses with its strong market position, high innovative strength and solid financial figures. Despite a difficult environment (inflation-related cost increases, sluggish construction activity in some countries), Belimo achieved record sales of around CHF 944 million in 2024. The EBIT margin rose to 19.2% in the same time, demonstrating the company's pricing power and efficiency. The high equity ratio of 76% reflects a certain degree of financial stability.
Belimo's inclusion in the Obermatt Swiss Pearls Index underscores the company's excellent market position, solid financial basis and sustained growth potential. Belimo benefits from long-term trends in building technology and impresses with its innovative strength and global diversification. In the current market environment, which is characterized by sustainability and digitalization, the Belimo stock therefore appears promising. Nevertheless, private investors should bear in mind that Belimo's business is partly dependent on the construction industry and that competition from international rivals is keeping innovation and price pressure high. Overall, however, as a leading Swiss pearl, Belimo offers an attractive combination of stability and growth - an interesting addition to the Obermatt Swiss Pearls Index (OMSP1).