March 12, 2018 Media and Financial Analysts Conference BELIMO Holding AG
Financial Year 2017 Net sales 600 120 CHF 579.9 mn (+8.7%) 500 100 Net income in CHF million Net sales in CHF million EBIT 400 80 CHF 92.6 mn (+6.5%) 300 60 Net income CHF 77.5 mn (+11.1%) 200 40 Cash flow from operating activities 100 20 CHF 82.3 mn (-8.8%) 0 0 13 14 15 16 17 Free cash flow Net sales Net income CHF 54.9 mn (-27.0%) Media and Financial Analysts Conference, March 12, 2018 2
Net Sales Net sales CHF 579.9 mn (PY 533.7 mn) 600 in CHF +8.7% in local currencies +8.2% 500 Net sales in CHF million CAGR, 5 years 400 in CHF +5.5% in local currencies +6.3% 300 Net sales by application 200 Air CHF 329.6 mn (57%) Water CHF 250.3 mn (43%) 100 Sales growth by application in local currencies 0 13 14 15 16 17 Air +7.4% Air Water Water +9.4% Media and Financial Analysts Conference, March 12, 2018 3
Sales Development by Market Regions 300 300 300 +8.4% +8.1% 250 250 250 +7.9% +6.9% Net sales in CHF million Net sales in CHF million Net sales in CHF million 200 200 200 150 150 150 100 100 100 +12.5% +13.1% 50 50 50 0 0 0 16 17 17 16 17 17 16 17 17 CHF CHF LC CHF CHF LC CHF CHF LC Europe Americas Asia Pacific Net sales CHF 280.8 mn (PY 259.2 mn) Net sales CHF 226.5 mn (PY 210.0 mn) Net sales CHF 72.6 mn (PY 64.5 mn) Contribution on total net sales: 48% Contribution on total net sales: 39% Contribution on total net sales: 13% Media and Financial Analysts Conference, March 12, 2018 4
Actuators and Valves Shipped Actuators shipped 7 6.3 million items (+6.9%) 6 Valves shipped 5 In million items 1.4 million items (+7.2%) 4 3 2 1 0 13 14 15 16 17 Number of actuators Number of valves Media and Financial Analysts Conference, March 12, 2018 5
EBIT and EBIT Margin EBIT CHF 92.6 mn (PY 87.0) 100 25% EBIT margin 16.0% (PY 16.3%) 80 20% Increased R&D expenses EBIT margin in % EBIT in CHF million 60 15% Increased marketing activities 40 10% Expansion of the global sales organization 20 5% 0 0% 13 14 15 16 17 EBIT EBIT margin Media and Financial Analysts Conference, March 12, 2018 6
Personnel Expenses Personnel expenses CHF 157.9 mn 160 40% (PY 146.4 mn) Personnel expenses in % of net sales Personnel expenses in CHF million 120 30% 27.2% of net sales (PY 27.4%) Number of employees, yearly average 80 20% (FTEs) 1 483 (PY 1 416) 40 10% 0 0% 13 14 15 16 17 Personnel expenses Personnel expenses in % of net sales Media and Financial Analysts Conference, March 12, 2018 7
Other Operating Expenses Other operating expenses CHF 67.1 mn 75 20% Other operating expenses in % of net sales (PY 58.0 mn) Other operating expenses in CHF million 60 16% 11.6% of net sales (PY 10.9%) 45 12% Increased marketing and travel expenses 30 8% Increased external development expenses 15 4% 0 0% 13 14 15 16 17 Other operating expenses Other operating expenses in % of net sales Media and Financial Analysts Conference, March 12, 2018 8
Research and Development CHF 44.4 mn (PY 37.7 mn) 50 15% 7.7% of net sales (PY 7.1%) 40 12% R&D in % of net sales R&D in CHF million 30 9% 20 6% 10 3% 0 0% 13 14 15 16 17 R&D R&D in % of net sales Media and Financial Analysts Conference, March 12, 2018 9
Net Income Net income CHF 77.5 mn (PY 69.8 mn) 80 20% 70 13.4% of net sales (PY 13.1%) 60 15% Net income margin in % Net income in CHF million Effective tax rate 17.9% (PY 18.3%) 50 40 10% 30 20 5% 10 0 0% 13 14 15 16 17 Net income Net income margin Media and Financial Analysts Conference, March 12, 2018 10
Cash Flow Cash flow from operating activities 100 100 Cash flow from operating activities in CHF million CHF 82.3 mn (PY 90.3 mn), -8.8% 80 80 Free cash flow in CHF million Free cash flow 60 60 CHF 54.9 mn (PY 75.2 mn), -27.0% 40 40 20 20 0 0 13 14 15 16 17 Cash flow from operating activities Free cash flow Media and Financial Analysts Conference, March 12, 2018 11
Balance Sheet Structure Liabilities and Assets shareholders’ equity Media and Financial Analysts Conference, March 12, 2018 12
Key Figures 2017 2016 2015 2014 2013 Return on equity (ROE) 19.8% 19.8% 17.2% 22.2% 23.4% Return on invested capital (ROIC) 23.4% 23.8% 20.8% 23.4% 29.7% Days sales outstanding (DSO) 50 49 51 47 43 Inventory period (days) 132 131 138 129 125 Media and Financial Analysts Conference, March 12, 2018 13
Stock Market Information 2017 2016 2015 2014 2013 2012 Earnings per share, in CHF 126.06 113.51 91.52 109.52 102.57 99.40 Stock market price as at December 31, in CHF 4 266 3 078 2 450 2 310 2 460 1 763 Dividend, in CHF 85 * 75 65 65 65 60 Payout ratio 67.5% 66.1% 71.1% 59.5% 63.8% 60.9% Return on dividend as at December 31 2.0% 2.4% 2.7% 2.8% 2.6% 3.4% Price-earnings ratio as at December 31 33.9 27.1 26.8 21.1 24.2 17.9 Total shareholder return as at December 31 41.0% 28.7% 8.9% -3.5% 43.2% 7.6% Total shareholder return, 5 years 161% * Proposal by the Board of Directors to the annual general meeting Media and Financial Analysts Conference, March 12, 2018 14
Publications and Agenda 2018 Annual General Meeting 2018 April 9, 2018 Dividend Payment April 13, 2018 Publication of Semiannual Report 2018 August 6, 2018 2019 Publication of Sales 2018 January 24, 2019 Publication of Annual Report 2018/ Media and Financial Analysts Conference March 11, 2019 Annual General Meeting 2019 April 1, 2019 Media and Financial Analysts Conference, March 12, 2018 15
BELIMO Holding AG Brunnenbachstrasse 1 8340 Hinwil Switzerland Phone +41 43 843 61 11 E-mail ir@belimo.com www.belimo.com
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