Convincing operating results in a challenging environment

Once again, an extremely challenging year is behind the Geberit Group. However, despite a strong decline in the building construction industry in Europe, sales and sales volumes were increased. The major success of the recently launched products on the market was very pleasing in this regard. Operating margins were only slightly below the previous year’s level. As a result, it was also possible to absorb most of the impacts of the continued high wage inflation and – compared to most currencies – a significantly stronger Swiss franc. Based on the strategic stability, all important, larger investment projects were carried out as planned. All in all, this is reference to the structural and financial strength of the Geberit Group as well as the resilience of its business model. This enabled the company to further expand and strengthen the market position as leading supplier of sanitary products. In 2024, net sales reached the previous year’s level at CHF 3,085 million. Adjusted for negative currency effects, the increase was +2.5%. Operating cashflow (EBITDA) fell by 0.9% to CHF 913 million. However, after currency adjustments this corresponded to an increase of 2.7%. The EBITDA margin decreased by 30 basis points to 29.6%; after currency adjustments, it reached the level of the previous year. Net income decreased by 3.2% to CHF 597 million, corresponding to a return on net sales of 19.4%. The reason for the marked decline compared to the operating results was the significantly higher tax rate, which was primarily driven by the OECD minimum taxation law in force since 2024. Earnings per share decreased slightly by 1.8% to CHF 18.06.

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