Geberit announces that sales reached 837 million Swiss francs in the 1st quarter, down 6.2% on the same period a year earlier (-1.4% at constant exchange rates).
At the same time, EBITDA was down 7% to 275 million Swiss francs, while EBIT was down 7.5% to 239 million Swiss francs.
Net income was down 11.4% to 190 million Swiss francs, while EPS was down 9.9% to 5.73 Swiss francs.
Geberit reports that the number of building permits in Europe fell by around 15% in 2023, which should lead to a corresponding drop in new construction activity in the current year.
Despite the overall negative forecast for the European building construction sector in 2024, Geberit believes that the expected fall in interest rates and the structural trend towards higher sanitary standards should positively stimulate demand.
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Geberit AG is the European leader in designing, manufacturing, and marketing sanitary systems intended for the construction and building renovation sectors. Net sales break down by family of products as follows:
- sanitary plumbing systems (38.3%): complete installed sanitary systems (showers, bathtubs, toilets, bidets, sinks, urinals, etc.), ball-valves, trigger plates, flush tanks, siphons, etc.;
- sanitary ceramic products (31.2%);
- pipe systems (30.5%): systems and conduits made of stainless steel, carbon steel, and copper, for draining water from buildings and roofs, distributing water and gas, etc.
At the end of 2021, the group had 26 production sites worldwide.
Net sales are distributed geographically as follows: Switzerland (9.5%), Germany (31.3%), Eastern Europe (10.1%), Nordic Countries (9.6%), Benelux (8.4%), Italy (6.8 %), Austria (6.2%), France (5.4%), the United Kingdom and Ireland (3.1%), Iberian Peninsula (0.8%) and other (8.8%).
GEBERIT AG 
