Geberit AG : 2024 begins with a decline in sales
>2023 results miss expectations - Yesterday morning, the group published 2023 results that came in below expectations. Sales had already been reported on 17 January and showed a decline at constant exchange rates of -4.8% (with +8.3% in Q4). This 4.8% decrease breaks down into a price effect of 8.4% and a volume effect of -13.2%. The 2023 EBITDA margin came to 29.9%, up +310bp, and was close to the guidance of 30% given in January. EBITDA was CHF 921m (consensus...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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