GEBERIT AG Strong earnings growth in the third quarter
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Geberit AG / Key word(s): Quarter Results The Geberit Group achieved convincing results in the first three quarters of 2023 in an extraordinarily difficult environment with a declining building construction industry in Europe. This was made possible above all thanks to high operational flexibility, lower energy prices and consistent price management. Although volumes declined significantly from the record levels of the previous year and net sales were also impacted by strongly negative currency effects, profitability increased and earnings per share grew in local currencies. Net sales fell by 12.3% to CHF 2,390 million, or 7.9% in currency-adjusted terms. Operating cashflow (EBITDA) reached CHF 749 million, which corresponds to an increase in the EBITDA margin of 320 basis points to 31.3%. Earnings per share fell by 1.7% to CHF 15.35, while in local currencies the increase was 5.2%. For 2023 as a whole, Management expects a mid-single-digit decline in net sales in local currencies and an EBITDA margin of 29 to 30%. Read more on: www.geberit.com/mediarelease. Please visit our website www.geberit.com for additional information. Don't hesitate to contact us for any other inquiries. End of Inside Information |
1763079 02-Nov-2023 CET/CEST