Slide 1: Earnings Call Semiannual Results 2025
Earnings Call Semiannual Results 2025 BELIMO Holding AG July 21, 2025
Slide 2: Agenda
Earnings Call Semiannual Results 2025 Overview 01 02 03 HY1 in Brief Business Financial Highlights Highlights Agenda 04 05 Outlook Q&A FY 2025 Belimo HY1 2025, July 21, 2025 2
Slide 3: HY1 in Brief: Financial Performance Above Historical Averages
01 HY1 in Brief Financial Performance Above Historical Averages Strong net sales growth of +20.6% in LC; reported +18.6% to CHF 561.5 million (5Y average: 10.8%). Net Sales Americas sales up by +30.1% in LC, fueled by a favorable business environment and strong data center business. Proportion
Slide 4: Agenda
Earnings Call Semiannual Results 2025 Overview 01 02 03 HY1 in Brief Business Financial Highlights Highlights Agenda 04 05 Outlook Q&A FY 2025 Belimo HY1 2025, July 21, 2025 4
Slide 5: Business Highlights H1 2025
02 Business Highlights H1 2025 Keynote: Capitalizing on strong Growth Momentum Uncertainties from US Strong Demand in High Growth in Data Market tariffs and future Americas and AP; Early Centers with significant global set-up with so signs of a European contribution from cold far limited effect Reco
Slide 6: Business Highlights: Celebrating Belimo's 50th anniversary
02 Business Highlights Celebrating Belimo’s 50th anniversary
Slide 7: Spotlight Data Centers: Wide application of Belimo solutions
02 Business Highlights Spotlight Data Centers: Wide application of Belimo solutions in Data Centers Belimo HY1 2025, July 21, 2025 7
Slide 8: Spotlight Data Centers: Cooling is becoming mission critical
02 Business Highlights Spotlight Data Centers: Cooling is becoming mission critical Belimo established close collaborations with hyperscalers and leading AI chip designers and increasingly demanding cooling applications deepen those relationships. Belimo’s product portfolio has use cases for all f
Slide 9: Spotlight Data Centers: Strong growth of Data Center business
02 Business Highlights Spotlight Data Centers: Strong growth of Data Center business Addressable market for Belimo of about 40 to 60m CHF per GW electrical power of data center capacity Approx. Lower end for pure air based USD 15B cooling, higher end for liquid cooling Approx. Additional poten
Slide 10: Data centers are becoming an increasing share of total turnover
02 Business Highlights Data center are becoming an increasing share of total turnover 561.5 Data center business with 473.5 470.4 significantly higher growth rates Share of total sales increasing Approx. Significant differences by USD 15B Non-DC market region – AM and AP shares in the range 20
Slide 11: Spotlight Capacity expansion: accelerated capacity build-up
02 Business Highlights Spotlight Capacity expansion: accelerated capacity build-up 1YB+ (Yottabyte) data creation Inauguration of our new New building and capacity Planning process ongoing to Customizing and Logistic building expansion in Hinwil CH well significantly increase capacity at in Shanghai
Slide 12: Agenda
Earnings Call Semiannual Results 2025 Overview 01 02 03 HY1 in Brief Business Financial Highlights Highlights Agenda 04 05 Outlook Q&A FY 2025 Belimo HY1 2025, July 21, 2025 12
Slide 13: Net Sales Development
04 Financial Highlights Overview of Net Sales in HY1 2025 Net Sales Net Sales Growth Net Sales Growth Net Sales Development in CHF million in CHF (in %, HY1) in LC (in %, HY1) 561.5 18.6 20.6 Net Sales by Region Regions & Business Lines Net Sales by Business Line 39% EMEA 45% Damper Actuators 50% Am
Slide 14: Net Sales Composition
04 Financial Highlights Overview Net Sales HY1 2025 Net Sales Bridge (in % for the HY1 2025 – compared to HY1 2024) Volume & Mix Price Others LC Organic FX Reported 20.6 18.6 Net Sales Composition 18.1 2.3 0.2 -2.0 in local currencies ⬈ ⬊ ⬈ in CHF Higher volume and a Positive price realization compe
Slide 15: Global Presence Enables Strong Growth
03 Market Regions Global Presence Enables Strong Growth Growth Rates in Local Currencies of Total Net Sales 10% EMEA EMEA 39% Ongoing strength in renovation Outperformed the commercial activity and early recovery of the construction sector across all key OEM business markets. 30% Americas Americas 5
Slide 16: Sales Review by Region – EMEA
03 Market Regions Sales Review by Region – EMEA EMEA in CHF million, LC adjusted at previous year rates 9.9% 8.3% Positive sales performance of 9.9% in LC despite persistent economic headwinds. Germany: Construction spending 216.3 219.3 199.6 gradually recovered after four years of decline. Al
Slide 17: Sales Review by Region – Americas
03 Market Regions Sales Review by Region – Americas Americas in CHF million, LC adjusted at previous year rates Net sales growth of 30.1% in LC fueled by a favorable business environment and strong data center business. Strong data center business with successful rollout of next-generation cooli
Slide 18: Sales Review by Region – Asia Pacific
03 Market Regions Sales Review by Region – Asia Pacific Asia Pacific in CHF million, LC adjusted at previous year rates Net sales growth of 21.3% in LC with data center activity as well as energy efficiency projects in a fast-evolving market environment. Governmental incentives for green technol
Slide 19: Accelerating Data Center Deployment
01 HY1 in Brief Accelerating Data Center Deployment Growth Rates in Local Currencies of Total Net Sales 18% Damper Actuators Damper Actuators 45% Driven by early recovery of EMEA Significant portion coming from construction spend and data the OEM channel. centers. 23% Control Valves Control Valves 5
Slide 20: Improved Operational Results
04 Financial Highlights Improved Operational Results EBIT and EBIT Margin EBIT in CHF million, EBIT Margin in % EBIT rose to CHF 128.1 million or 22.8% of sales (PY CHF 93.0 million; 19.6% EBIT-Margin) despite Fx headwind Operating leverage combined with favorable product and customer mix. Belim
Slide 21: Increase in Net Income following the Operational Results
04 Financial Highlights Increase in Net Income following the Operational Results Net Income and Net Income Margin Net Income in CHF million, Net Income Margin in % Net income of CHF 101.3 million, 31.2% above PY (CHF 77.2 million); 18.0% of net sales. Financial result impacted by CHF - 10.6 mill
Slide 22: Free Cash Flow reflecting the capacity expansion program
04 Financial Highlights Free Cash Flow reflecting the capacity expansion program Cash Flow in CHF million Operating cash flow of CHF 93.5 million (PY CHF 85.6 million) rose driven by higher net income. Free cash flow (without term deposits) of CHF 52.8 million (PY CHF 69.8 million, down -24.3% o
Slide 23: Strong Equity Ratio
04 Financial Highlights Strong Equity Ratio Reduced cash and cash in CHF million Dec 2024 Jun 2025 equivalents of CHF 72.7 million compared to CHF 97.2 million on Cash and cash equivalents 97.2 72.7 Dec 31, 2024, driven by the Other current assets 347.8 357.1 dividend distribution. Non-current ass
Slide 24: Agenda
Earnings Call Semiannual Results 2025 Overview 01 02 03 HY1 in Brief Business Financial Highlights Highlights Agenda 04 05 Outlook Q&A FY 2025 Belimo HY1 2025, July 21, 2025 24
Slide 25: Outlook FY 2025: Continued strong sales growth
05 Outlook FY 2025 Continued strong sales growth Sales Growth Projection sales growth in local currencies of 15% to 20% with structural drivers such as urbanization, the push for energy efficiency along with rising attention to indoor air quality and high data center investments. Risks Considera
Slide 26: Outlook by Market Region
05 Outlook FY 2025 Outlook by Market Region Americas 2 EMEA Asia Pacific Strong momentum to Ongoing good demand in maintain with continued Roughly stable demand in Belimo’s key verticals support from data center HY2 2025 throughout the despite challenges in some investments. market region. Asian cou
Slide 27: Core Business Benefiting From Strong Secular Tailwinds
Positioned to Outperform Over the Long Term Core Business Benefiting From Strong Secular Tailwinds Urbanization Higher demand in Comfort, Energy Efficiency Climate Change and Safety in buildings Digitalization Belimo HY1 2025, July 21, 2025 27
Slide 28: Announcing new Head of Investor Relations - Stephan Gick
Announcing new Head of Investor Relations - Stephan Gick Effective September 1, 2025 Experience & Background Former Head of Investor Relations at OC Oerlikon, Pfäffikon Degree in Economics from the University of Zurich (Major in Finance) Many years of industry experience in investor relation
Slide 29: Next Dates
Publications and Agenda Publication of Sales 2025 January 19, 2026 Publication of Annual Report 2025 February 23, 2026 Annual General Meeting 2026 Next Dates March 23, 2026 Ex-Dividend Date March 25, 2026 Dividend Payment March 27, 2026 Belimo HY1 2025, July 21, 2025 29
Slide 30: Belimo HY1 2025, July 21, 2025
Belimo HY1 2025, July 21, 2025 31
Slide 31: Forward-Looking Statements
Forward-Looking Statements This presentation contains comments relating to future developments which are based on assumptions and estimates made by BELIMO Holding AG. Although the Company assumes the expectations of § these forward-looking statements to be realistic, they contain risks. Because of t
Slide 32: y LM
y LM BELIMO