Geberit Group Achieves Currency Adjusted Sales Growth Amid Challenging Market Conditions in Europe
SWITZERLAND: Despite a significant downturn in Europe’s building construction industry, the Geberit Group recorded a currency-adjusted net sales increase of 2.5% in 2024. Net sales in Swiss francs stood at US$3.3 billion, remaining nearly flat compared to the previous year due to unfavourable currency movements.
Management anticipates an EBITDA margin slightly below the prior year’s level for the full year of 2024. The financial statements and annual report for 2024 are scheduled for release on 6 March 2025.
Operating profitability is expected to decline only marginally despite the difficult market environment. Positive contributors included volume growth and reduced direct material costs compared to the previous year. However, profitability was impacted by high wage inflation in several countries and investments aimed at strengthening the company’s market position. These investments encompassed growth initiatives in select developing markets, marketing expenditures for new product launches and the 150th-anniversary celebrations of the Geberit Group, as well as various digitalization and IT projects. Consequently, Management projects an operating cash flow (EBITDA) margin slightly below the previous year’s level for 2024.
Source: Geberit