Geberit AG

Earnings Release • Aug 17, 2023

News Details

Ad-hoc | 17 August 2023 07:21

Convincing results in a declining environment

Geberit AG / Key word(s): Half Year Results

17-Aug-2023 / 07:21 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 LR

The issuer is solely responsible for the content of this announcement.

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In the first half of 2023, the Geberit Group posted convincing results in an extraordinary difficult environment with a declining construction industry in Europe. This was possible due to consistent price management, lower energy prices and, above all, high operational flexibility. Although volumes declined significantly from the record levels of the previous year, profitability increased and growth in earnings per share in local currencies was achieved. Net sales decreased by 14.1% to CHF 1,662 million, or by 9.2% after currency adjustments. Operating cashflow (EBITDA) reached CHF 526 million, which corresponds to an increase in the EBITDA margin of 270 basis points to 31.7%. Earnings per share fell by 5.4% to CHF 10.93, while in local currencies an increase of 2.2% was recorded. For 2023 as a whole, Management expects a mid-single-digit decline in net sales in local currencies and an EBITDA margin of around 29%.

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