Annual Report 2023

Accounting Policies

General Information

The financial statements of BELIMO Holding AG, Hinwil (Switzerland), have been prepared in accordance with the provisions of commercial accounting as set out in the Swiss Code of Obligations. While the consolidated financial statements provide information regarding the economic situation of the Group as a whole, the information contained in these financial statements refers solely to the parent company. These financial statements are presented in Swiss francs (CHF), rounded to the nearest thousand. Due to rounding, amounts presented throughout this report may not add up precisely to the totals provided.

Non-Current Assets

Non-current assets include long-term loans and investments in group companies. Loans denominated in foreign currencies are translated at the rate at the reporting date, whereby unrealized losses are fully recognized, and unrealized gains are only recorded to the extent of previous losses. Investments in group companies are accounted for at acquisition cost less valuation allowances, as required.

Treasury Shares

At the acquisition date, treasury shares are recognized at acquisition cost and deducted from shareholders’ equity. In case of a resale, the gain or loss is recognized in the income statement as other financial income or financial expenses.

Foregoing a Statement of Cash Flows, Management Report, and Additional Disclosures in the Notes

As BELIMO Holding AG has prepared its consolidated financial statements in accordance with a recognized accounting standard (IFRS® Accounting Standards), it has decided to refrain from presenting additional information on interest-bearing liabilities and audit fees in the notes as well as a statement of cash flows and a management report in accordance with the law.