2023-05-02 05:25:14
Geberit saw its sales decline in the first three months of 2023, due in particular to negative currency effects. Despite the drop in volumes, however, profitability was able to improve.
The washroom equipment manufacturer reported on Tuesday a turnover of 893 million francs, down 8.9% compared to the first quarter of 2022. In local currencies (ML), the contraction has limited to 4.3%, specifies the multinational of Rapperswil-Jona in a press release.
Affected by the decrease in volumes, the gross operating surplus (Ebitda) shows a contraction of 2.5% to 296 million, but the related margin is coated by 2.2 points to 33.1% .
The copy made by the Saint-Gallois group is at the bottom of the range of analysts contacted by AWP in terms of turnover, while the results exceeded the average of projections.
For the remainder of the financial year, Geberit’s management reaffirmed the outlook outlined when presenting its annual figures in March. It still expects a difficult market environment for the construction sector, but says it is confident that it can achieve its strategic objectives of 4-6% annual net sales growth in ML with an Ebitda margin. 28-30% on average.
/ATS
1683006794
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