Balance sheet media conference / analyst orientation of March 11, 2002

Increase in sales and earnings
Belimo looks back on a successful year and achieved above-average results compared to the industry. Net sales increased by 7.1 percent to CHF 229.1 million and earnings by 2.4 percent to CHF 23.2 million. The return on equity ROE is currently at 24.8 percent, the return on sales ROS at 14.3 percent. The effects of foreign exchange were negligible.

The stringent strategy pays off
Thanks to its stringent strategy, Belimo achieves profitable growth. Products and services are oriented towards satisfying the need for pleasant interior air conditions, are targeted on a defined group of customers, and create high customer retention. Depending on the region, sales are achieved in almost equal parts in the new plant and in the replacement business. While the latecyclic new business has a stabilizing effect, the growing number of installed Belimo actuators activates the replacement business.

The stability of growth and the market position achieved by Belimo are evidenced by our performance: The more than 700 employees delivered about 2.1 million electrical actuators in the economically difficult year under review - 7 percent more than in the previous year.

The business with actuators for water applications recorded a particularly commendable development. Three years after entering this new field of application in the USA, already 25 percent of sales were contributed by this line in the year under review. The markets still offer considerable potential.

Breakdown of gross sales
The business unit Asia recorded the most impressive sales increase with 25.7 percent. Although growth in the business unit Americas is clearly below the figure of the prior year, it is still noteworthy at 6.1 percent. The business unit Europe was able to raise gross sales by 4.6 percent thanks to new technologies and applications.

Good perspectives
Innovative technologies, market-oriented product ranges, and a regionally attuned expansion strategy are the solid foundation on which Belimo can develop its enterprise, even in an economic environment that is marked by insecurity: In the current year, we strive for further growth in sales and earnings.

A new wing added to our premises in Hinwil (Switzerland) will enable Belimo to merge various locations in a single site by the end of the year 2002. The location in the Zürcher Oberland was chosen because of the favorable economic conditions of that area and the concentration under a single roof will allow us to achieve further increases in efficiency.

Wetzikon, March 11, 2002

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