In this Research Note, we examine the Belimo Group, based on their 2023 annual report, investor presentations and financial results announced on 4th March 2024 in the building automation field devices sector. This is an update to our previous coverage of Belimo’s growth strategy. Belimo Group, a listed company on the Swiss Stock Exchange, is headquartered in Hinwil, Switzerland with over 2,300 employees. The group is a market leader in field devices for the energy-efficient control of HVAC systems. The focus of their core business is on damper actuators, control valves, sensors and meters. Belimo Financial Highlights 2023 Belimo Media and Financial Analysts Conference Presentation, 4th March 2024 The company reported that Belimo pursued its long-term growth and investment strategy successfully throughout 2023. The most significant challenges came from a demanding economic environment leading to a slowdown of business momentum in the construction industry. Nevertheless, Belimo saw net sales grow 7.2% in local currencies and […]