Report
Delphine Brault

Geberit AG : Caution (not unusual, though) at the start of the year

>Very solid year in 2021, Q4 was heavily impacted by inflation - Geberit’s 2021 results, reported yesterday, largely matched expectations (2% below at the net result level). For full year 2021, the group posted organic sales growth of 14.7% and an EBITDA margin of 30.9% (-10bp), with FCF up 12%. The 2021 EBITDA margin benefited from a volume/mix impact of 310bp, with a net pricing effect of -140bp.The Q4 trend was different: while sales advanced by 7.7%, the EBIT...
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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