Geberit AG : After a slightly weak Q4, 2020 will see further adverse factors
>Activity in Q4 did not live up to expectations - As we wrote in our note yesterday morning (“Disappointing Q4 2019 salesâ€), the group reported growth at constant currencies of 1.9% in Q4, versus 3.1% forecast by the consensus and our estimate of 3%. The group said that it was affected by one less working day in the quarter (an automatic reduction in sales of -1.5%). By country, Germany posted stable sales in Q4, the UK a fall of 1.2% and France a decline of 5.9%...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.
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.
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