Report
Delphine Brault

Geberit AG : Après un bon T1, la visibilité sur la demande nous semble faible

>Un début d’année solide, marqué par une demande toujours forte mais des marges sous pression - Les résultats T1 2022 publiés hier étaient légèrement supérieurs aux attentes (5% au-dessus au niveau de l’EBITDA). La réelle surprise est venue du chiffre d’affaires, qui a progressé de 13% à changes constants, dont 6.4% de hausse de prix. Malgré cette impressionnante performance, la marge d’EBITDA affiche un recul de 360 pb à 30.9%, légèrement sous les attentes du consens...
Underlying
Geberit AG

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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