Belimo Holding Ag · SIX:BEAN
Belimo — Baader Helvea Swiss Equities Conference 2025
31 slides from Belimo's conference presentation, 2025
Slide 1: Small Devices – Big Impact
Small Devices – Big Impact Belimo Holding AG Investor Presentation 2025 Baader Helvea Swiss Equities Conference 2025
Slide 2: Agenda
Agenda 1 Company 2 Markets Agenda 3 Megatrends 4 Growth Strategy Belimo 2025 2
Slide 3: Market Leader in HVAC Field Devices with CHF 859 Million Sales (2023)
Our Company, Markets and Megatrends Market Leader in HVAC Field Devices with CHF 859 Million Sales (2023) Net Sales by Business Line (2023) Net Sales by Region (2023) Our Global Footprint 47.1% Damper 43.8% EMEA Actuators Regional Headquarters 48.6% Control 43.5% Americas Valves Subsidiaries 4.3% Se
Slide 4: Our Applications: Heating, Ventilation and Air Conditioning in Buildings
Our Company, Markets and Megatrends Our Applications: Heating, Ventilation and Air Conditioning in Buildings Damper Sensors/ Control Comfort, Safety Actuators and Billing Meters Valves (Air) (Water) Cooling Tower Fire & Smoke Protection Cooling Plant Air Handling Unit Heating Plant Belimo 2025 4
Slide 5: Four Key Milestones in Our 50-Year Long History
Our Company, Markets and Megatrends Four Key Milestones in Our 50-Year Long History 1975 1976 1999 2017 Foundation of Belimo Introduction of the first Introduction of the Introduction of the Belimo Automation AG direct coupled actuator – Characterized Control Sensors product range – Switzerland. Air
Slide 6: Our Footprint in the Global Non-Residential Building Park
Our Company, Markets and Megatrends Our Footprint in the Global Non-Residential Building Park Commercial/ Recreation/ Offices Government Data Centers Lodging Pharmaceutical Transport Healthcare Schools Belimo 2025 6
Slide 7: Driving Higher Demand in Comfort, Energy Efficiency and Safety
Our Company, Markets and Megatrends Driving Higher Demand in Comfort, Energy Efficiency and Safety Urbanization Higher demand in Comfort, Energy Efficiency Climate Change and Safety in buildings Digitalization Belimo 2025 7
Slide 8: Our Total Addressable Market in 2023: CHF 4.9 Billion
Our Company, Markets and Megatrends Our Total Addressable Market in 2023: CHF 4.9 Billion 1.2 +4% p.a. 2.1 1.6 billion CHF Damper Actuators Control Valves Sensors and (Air) CHF 4.9 Billion (Water) Meters EU AM AP Belimo (<20%) AM EU AP EU AM AP ~25% ~45% ~30% Belimo 2025 Source: Own analysis 8
Slide 9: Serving Two Main Channels in HVAC: Contracting and OEM
Our Company, Markets and Megatrends Serving Two Main Channels in HVAC: Contracting and OEM Consulting Engineers Belimo Sales Companies BELIMO Automation AG Contracting (55%) ▪ Controls contractors ▪ Systems integrators ▪ Controls distributors End users ▪ Developers ▪ Owners ▪ General Contractors ▪ T
Slide 10: Growing Together with Independent Contractors and HVAC OEMs
Our Company, Markets and Megatrends Growing Together with Independent Contractors and HVAC OEMs Advanced Services new new Field Services System Integrators Engineered Solutions «Global 4» (large building automation Building Mgmt. Systems companies) BACS Systems Companies new Automation Controllers H
Slide 11: Our Growth Strategy
Our Growth Strategy
Slide 12: 9% Organic Revenue CAGR Delivered Over the Last 20Y in LC
Our Growth Strategy 9% Organic Revenue CAGR Delivered Over the Last 20Y in LC Net Sales 2002-2023 EBIT Margin moving from 16-18% to 18-20% range in CHF million in percent of net sales 859 847 765 693 642 661 580 534 494 493 473 426 445 404 416 372 386 325 280 236 253 2003 2004 2005 2006 2007 2008 20
Slide 13: HY1 2024 with 9.6% Local Currency Organic Sales Growth
HY1 2024 with 9.6% Local Currency Organic Sales Growth Return of Positive Contribution From Volume&Mix Net Sales Bridge in CHF (in % for the HY1 2024 – compared to HY1 2023) Volume & Mix Price Others FX Reported Net Sales Composition 6.0 3.0 0.6 -4.1 5.6 ⬈ ⬈ ⬊ ⬈ Positive volume & mix effect Positive
Slide 14: Capturing Potential in Data Center Applications
Our Growth Strategy Capturing Potential in Data Center Applications Customer Data Centers added as strategic growth initiative Value replacing Digital Customer Experience RetroFIT+ 2022-2030 Grow Asia Pacific 2nd Phase of Data Centers Growth Strategy 2016-2021 Solution 1st Phase of 2022: 11.9% Leade
Slide 15: Annual Global Data Center Construction Revenue (USD M)
Our Growth Strategy Annual Global Data Center Construction Revenue (USD M) Source: Grand View Research 2024 Belimo 2025 15
Slide 16: Aligned to Fast-Growing, Mission-Critical Global Niche Market
Our Growth Strategy Aligned to Fast-Growing, Mission-Critical Global Niche Market ▪ Share of DC spent on cooling is projected to increase from below 4% in 2018 to close to 7% in 2030. Moreover, Belimo’s share of HVAC-related data center spent increases with power density per rack. ▪ Shift to liquid
Slide 17: Market Trends Support Demand Growth Rate Above DC Capex
Our Growth Strategy Market Trends Support Demand Growth Rate Above DC Capex Global Average Power Rack Density (kW/rack) 100+ 51-100 21-50 11-20 10 or less 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Belimo 2025 17
Slide 18: Typical Traditional Application: Air-Based Cooling System
Our Growth Strategy Typical Traditional Application: Air-Based Cooling System Belimo 2025 18
Slide 19: Belimo Enables AI Deployment
Our Growth Strategy Belimo Enables AI Deployment Cooling becomes mission-critical for individual chip’s performance: As the global technology and market leader in field devices in HVAC applications, Belimo is becoming a key enabler of proliferation of AI applications, benefiting from the high capita
Slide 20: Rear Door Cooling
Our Growth Strategy Rear Door Cooling Rear Door Cooling Supply water temp >18°C (65 °F) Up to ~ 40 kW/rack from CDU Belimo 2025 20
Slide 21: Direct To Chip Cooling (Cold Plate)
Our Growth Strategy Direct To Chip Cooling (Cold Plate) Direct To Chip Cooling (Cold Plate) Small heat exchanger mounted on the chip. Removes ~ 60-75% of server heat Up to ~ 100 kW/rack from CDU Belimo 2025 21
Slide 22: Immersion Cooling
Our Growth Strategy Immersion Cooling Immersion Cooling Servers are submerged in dielectric fluid for cooling Removes up to 100% of server heat Belimo 2025 22
Slide 23: Removing More Heat With Less Energy While Balancing The Load
Our Growth Strategy Removing More Heat With Less Energy While Balancing The Load Liquid Cooled Racks Heat Rejection Belimo's products help Rack manifolds, increased Raised temperature fluid cooler and capacity PDUs and row manifolds efficient chillers to reject heat remove more heat with outdoors le
Slide 24: Heat Recovery From Data Centers
Our Growth Strategy Heat Recovery From Data Centers A data center is heating the Aquatic Centre The Belimo Energy Valve is playing a crucial used during Paris 2024 Olympic as a training role in the heat export process for heat recovery pool. The innovative use of the waste heat is not applications.
Slide 25: Renovation Market with Strategic Initiative "RetroFIT+"
Renovation Market with Strategic Initative "RetroFIT+" Belimo 2025 25
Slide 26: Renovation Is a Much Larger Opportunity Than New Build
Our Growth Strategy Renovation Is a Much Larger Opportunity Then New Build 40% 40% of worldwide of the energy energy used in consumption buildings is can be used for HVAC attributed to buildings ~ 2% Existing Buildings new buildings per year Belimo 2025 26
Slide 27: Addressing Renovation Market
Our Growth Strategy Addressing Renovation Market Belimo 2025 27
Slide 28: Outlook FY 2024: Sales Growth Above Five-Year Average
Outlook FY 2024 Sales Growth Above Five-Year Average Sales Growth ▪ Higher YoY growth in HY2 2024 helped by weaker comparison base. Sequentially nearly stable sales relative to HY1. Risks ▪ FX impact on the top and bottom line, uncertainties regarding ! global economic developments. Profitability ▪
Slide 29: Next Dates: Publications and Agenda
Publications and Agenda Publication of Sales 2024 January 20, 2025 Publication of Annual Report 2024 February 24, 2025 Annual General Meeting 2025 March 24, 2025 Next Dates Ex-Dividend Date March 26, 2025 Dividend Payment March 28, 2025 Belimo 2025 29
Slide 30: Disclaimer
Disclaimer This presentation contains comments relating to future developments which are based on assumptions § and estimates of BELIMO Holding AG. Although the Company assumes the expectations of these forward-looking statements to be realistic, they contain risks. These can lead to the actual resu
Slide 31: y LM
y LM BELIMO
Belimo Holding — Baader Helvea Swiss Equities Conference 2025 on 6ix