Geberit Reports Sales Growth Despite Market Challenges in 2024

Reports Sales Growth

Switzerland: Geberit achieved a currency-adjusted net sales increase of 2.5% in 2024, reaching CHF 3,085 million (USD 3,487 million), despite a significant decline in the European building construction industry. However, due to unfavorable currency effects of CHF 76 million (USD 86 million), net sales in Swiss francs remained stable. Growth was driven entirely by higher volumes, supported by inventory rebuilding at wholesalers, market expansion, and the success of new product developments. In Q4 2024, net sales reached CHF 685 million (USD 775 million), reflecting a 1.3% decline compared to the previous year. However, after currency adjustments, this equated to a slight increase of 0.7%.

Regionally, Geberit saw strong growth in Eastern Europe (+7.1%), Italy (+6.2%), Benelux (+3.8%), and Germany (+3.2%) despite weak market demand. Switzerland remained stable (-0.1%), while Western Europe (-2.6%) and Northern Europe (-4.2%) declined, impacted by the sale of the shower enclosure business. Outside Europe, currency-adjusted growth was recorded in the Middle East/Africa (+17.1%), America (+3.0%), and the Far East/Pacific (+0.2%), with strong growth in India balancing declines in China. By product category, net sales rose by 4.8% in installation and flushing systems, 1.3% in piping systems, and 1.1% in bathroom systems. Despite challenging conditions, the EBITDA margin is expected to be slightly below the previous year due to volume growth and lower material costs, offset by wage inflation and investments in new markets, product launches, and digitalization projects.

For 2025, demand in the building construction sector is anticipated to stabilize. While the new construction market in key European countries such as Germany, the Nordic countries, and Austria is expected to decline slightly, the renovation market—accounting for 60% of Geberit’s business—shows early signs of recovery. Outside Europe, demand is expected to remain strong in India and the Gulf region, while China may see further declines, particularly in new residential construction. Geberit will continue its strategic initiatives in 2025, including expanding the piping business with new products like FlowFit, Mapress Therm, and SuperTube, driving growth in the shower toilet segment with AquaClean Alba, increasing market presence outside Europe, and further developing its ceramics specialization strategy.

Source: Gerbit