Swiss building automation specialist Belimo has posted a 30% surge in first-half sales for 2026, with the company explicitly citing data centre expansion as the primary growth driver. The results, released on Monday, showed revenue reaching CHF 890 million, well above analyst expectations, as demand for precision heating, ventilation and air conditioning (HVAC) actuators soared alongside the global buildout of AI and cloud computing infrastructure.
Belimo's share price rose more than 4% on the SIX Swiss Exchange following the announcement, lifting the broader industrials index. The company's order book remains strong, with management noting that data centre projects now account for a significantly larger share of sales than in previous years. The trend reflects a structural shift: as hyperscale data centres consume ever more power, efficient thermal management has become a critical investment priority.
For UK investors, the Belimo update offers a bellwether for the wider industrial automation and electrical components sector. London-listed firms such as Spirax-Sarco Engineering, Halma, and even parts of the FTSE 250's support services segment are exposed to similar end-markets. While Belimo is not listed in the UK, its performance often correlates with sentiment around building efficiency and data centre capital expenditure — both themes that have gained prominence in 2026.
The FTSE 100 edged up 0.3% in early trading on Monday, with industrial stocks among the outperformers. The broader Stoxx Europe 600 Industrials index also gained ground, reflecting a sector-wide reassessment of data centre-related revenue potential. Analysts at Barclays noted in a research note that 'the data centre capex cycle is proving more durable than many expected, and the HVAC sub-segment is a clear beneficiary.'
Belimo's results come amid a broader earnings season where several UK-listed engineering groups have flagged strong demand from the technology and cloud sectors. However, the company also warned of rising raw material costs and supply chain constraints for specialised components, which could put pressure on margins in the second half. For now, the market is focusing on the top-line momentum.