4.1Subsidiaries
BELIMO Holding AG held directly and indirectly the following subsidiaries:
Europe, Middle East & Africa
Share Capital in 1 000 | Group interest | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Company, place of incorporation | Activities | Country | Currency | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |||||||
BELIMO Automation AG, Hinwil | P, D, L/C, R&D | CH | CHF | 500 | 500 | 100% | 100% | |||||||
BELIMO InnoVision AG, Hinwil | H | CH | CHF | 3 500 | 3 500 | 100% | 100% | |||||||
BELIMO Stellantriebe Vertriebs GmbH, Stuttgart | D | DE | EUR | 205 | 205 | 100% | 100% | |||||||
BELIMO Automation Deutschland GmbH, Großröhrsdorf | P, L/C, R&D | DE | EUR | 50 | 50 | 100% | 100% | |||||||
BELIMO Automation Handelsgesellschaft m.b.H., Vienna | D | AT | EUR | 36 | 36 | 100% | 100% | |||||||
BELIMO Silowniki S.A., Warsaw | D | PL | PLN | 500 | 500 | 100% | 100% | |||||||
BELIMO Servomotoren B.V., Vaassen | D | NL | EUR | 18 | 18 | 100% | 100% | |||||||
BELIMO Belgium BV, Grimbergen | D | BE | EUR | 500 | 500 | 100% | 100% | |||||||
BELIMO Automation UK Ltd., Shepperton | D | GB | GBP | 0.1 | 0.1 | 100% | 100% | |||||||
BELIMO Automation Norge AS, Oslo | D | NO | NOK | 501 | 501 | 100% | 100% | |||||||
BELIMO Finland Oy, Vantaa | D | FI | EUR | 100 | 100 | 100% | 100% | |||||||
BELIMO AB, Nacka | D | SE | SEK | 1 000 | 1 000 | 100% | 100% | |||||||
BELIMO SARL, Courtry | D | FR | EUR | 80 | 80 | 100% | 100% | |||||||
BELIMO Ibérica de Servomotores S.A., Madrid | D | ES | EUR | 305 | 305 | 100% | 100% | |||||||
BELIMO Italia S.r.l., Grassobbio | D | IT | EUR | 47 | 47 | 100% | 100% | |||||||
BEREVA S.r.l., Ora1), 2) | P, D, R&D | IT | EUR | 1 330 | 1 330 | 100% | 89% | |||||||
BELIMO Automation FZE, Dubai | D | AE | USD | 1 905 | 1 905 | 100% | 100% | |||||||
BELIMO Turkey Otomasyon A.Ş., Istanbul | D | TR | TRY | 12 375 | 12 375 | 100% | 100% | |||||||
1) In May 2024, Belimo acquired all shares held by non-controlling shareholders of BEREVA S.r.l..
2) Investment held by BELIMO InnoVision AG
H = Holding company
P = Production
D = Distribution
L/C = Logistics and customization
R&D = Research and development
Americas
Share Capital in 1 000 | Group interest | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Company, place of incorporation | Activities | Country | Currency | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |||||||
BELIMO Aircontrols (USA), Inc., Danbury | D, H | US | USD | 200 | 200 | 100% | 100% | |||||||
BELIMO Customization (USA), Inc., Danbury1) | P, L/C | US | USD | 45 | 45 | 100% | 100% | |||||||
BELIMO Technology (USA), Inc., Danbury1) | R&D | US | USD | 30 | 30 | 100% | 100% | |||||||
BELIMO Aircontrols (CAN), Inc., Mississauga | D | CA | CAD | 95 | 95 | 100% | 100% | |||||||
BELIMO Sensors Inc., Dorval | P, R&D | CA | CAD | 2 025 | 2 025 | 100% | 100% | |||||||
BELIMO Brasil – Montagens e Comércio de Automação Ltda., São Paulo | D | BR | BRL | 10 372 | 10 372 | 100% | 100% | |||||||
1) Investment held by BELIMO Aircontrols (USA), Inc.
H = Holding company
P = Production
D = Distribution
L/C = Logistics and customization
R&D = Research and development
Asia Pacific
Share Capital in 1 000 | Group interest | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Company, place of incorporation | Activities | Country | Currency | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |||||||
BELIMO Asia Pacific Limited, Hong Kong | D, L/C | HK | HKD | 10 | 10 | 100% | 100% | |||||||
BELIMO Pacific Pty Ltd, Mulgrave, Melbourne | D, L/C | AU | AUD | 1 210 | 1 210 | 100% | 100% | |||||||
BELIMO Automation (Shanghai) Co., Ltd., Shanghai | P, D, L/C, R&D | CN | CNY | 50 320 | 50 320 | 100% | 100% | |||||||
BELIMO Automation India Private Limited, Mumbai | D, L/C | IN | INR | 1 574 | 1 574 | 100% | 100% | |||||||
BELIMO Automation Malaysia SDN. BHD., Kuala Lumpur | D, L/C | MY | MYR | 5 300 | 5 300 | 100% | 100% | |||||||
P = Production
D = Distribution
L/C = Logistics and customization
R&D = Research and development
Scope of Consolidation
The consolidated financial statements include all companies (subsidiaries) that are controlled either directly or indirectly by BELIMO Holding AG. Control exists when the Group is exposed to, or has rights to, variable returns from its involvement with the company and is able to affect those returns through its power over the company. Subsidiaries that are acquired or sold during the course of the year are consolidated with effect from the date on which control commences and deconsolidated with a gain or loss included in the income statement from the date on which control is lost.
Eliminations
Assets, liabilities, income, and expenses are recognized on a 100% basis using the full consolidation method. Intercompany income and expenses and intercompany receivables and payables are eliminated. Any unrealized profits arising from intercompany transactions are eliminated, affecting net income. Unrealized losses are eliminated in the same way, but only to the extent that there is no evidence of impairment.