Geberit AG Reports Stable Results Amid Challenging Market Conditions

The Geberit Group has announced its financial results for the first half of 2024, showing resilience in a challenging market. Despite a downturn in the building construction industry and adverse currency fluctuations, Geberit achieved slight volume growth and maintained high profitability levels.

In Swiss francs, net sales decreased by 1.4% to CHF 1,638 million but saw a 1.7% increase in currency-adjusted terms. Operating cashflow (EBITDA) reached CHF 518 million, with the EBITDA margin falling by 10 basis points to 31.6%. In local currencies, the EBITDA margin increased by 40 basis points. Earnings per share fell by 3.3% to CHF 10.57 but rose by 0.9% in local currencies, despite a higher tax rate due to the OECD minimum taxation law.

Geberit's management expects net sales in local currencies to remain at 2023 levels and an EBITDA margin of around 29% for the full year of 2024.