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Belimo: another jewel on the Swiss Stock Exchange that is little known to the general public. The company develops field devices for professionals providing HVAC (heating, ventilation and air conditioning) solutions. Belimo products measure temperature and air pressure and can even activate valves. This last usage is part of the “actuators” market, in which Belimo holds a 50% market share in Europe and the United States.
Belimo sells 45% of its products to equipment manufacturers, who are sometimes its competitors as well. French giant Schneider Electric is an example of this. Analyst Marta Bruska of Baader Helvea is fond of the company: “Belimo is an exceptional company in many respects. It does business in a niche market with true added value and the management team is very astute and knowledgeable, thinking with a long-term vision.”
The Hinwil-based company is taking advantage of the digital technologies boom, counting on the rise in smart objects to offer remote monitoring for its solutions, which are all optimised for maximum energy efficiency. “Currently, Belimo is making the leap to Big Data,” said Bruska. “The company’s growth strategy is clear for the next 10 years. We believe that profitable and sustainable organic growth of 6%–7% will result in increased returns.”
Strong structural drivers including urbanisation and the growing trend towards energy-efficiency – for example, construction of green and smart buildings – have seen Belimo remain on a solid growth path. In addition, “the company’s light and efficient business model combined with truly amazing operational excellence even in the time of crisis – sales during 2009’s financial crisis dropped by only 1.5% on a currency adjusted basis” – make Belimo a highly attractive share.