Good Geberit 1Q, but European Construction Outlook Remains Softer Than 2018
Narrow-moat Geberit moderately surprised the market with first-quarter results that look more in line with the company's 10-year historic average growth rather than materially slowing down from a downturn in the construction market. However, we do expect the remainder of the year to reach or exceed the 3.6% underlying growth achieved in the first quarter, primarily because broad demand from the European construction market looks softer than 2018. This has been consistently communicated by compan...Geberit is a supplier of sanitary technology products. Co. develops, produces and distributes sanitary products and systems for the residential and commercial new construction and renovation markets. Co.'s product range consists of: the Sanitary Systems product area with the Installation Systems, Cisterns & Mechanisms, Faucets & Flushing Systems and Waste Fittings & Traps product lines; and the Piping Systems product area with the Building Drainage Systems and Supply Systems product lines. Co.'s products are sold through the wholesale channel to in more than 120 countries.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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