Switzerland · Delayed Price · Currency is CHF Geberit AG Earnings Call Transcripts
Fiscal Year 2026
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Net sales grew 3.4% in local currencies, with stable operating margins and EPS up 4% in CHF. Extraordinary price increases are being implemented to offset higher plastics and energy costs, while growth is expected to remain modest in Europe and mixed elsewhere.
Fiscal Year 2025
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Net sales grew 4.8% in local currencies with strong free cash flow and margin resilience despite currency headwinds and one-time plant closure costs. Outlook for 2026 is for slight growth in Europe and mixed trends elsewhere, with continued investment in innovation and logistics.
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Q4 and full-year sales grew strongly in local currencies, driven by volume and new products, with market share gains and robust performance in most regions. 2025 guidance includes higher CapEx for logistics and continued investment in innovation, with only slight market growth expected in 2026.
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Strong Q3 and nine-month results were driven by new product launches and market outperformance, with net sales and EPS both rising despite one-time closure costs. Guidance for full-year sales growth was raised to 4.5%, with margins stable despite inflation and energy headwinds.
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Net sales grew 4% in local currencies in H1 2025, with stable operating margins excluding one-time Wesel plant closure costs. Adjusted EPS rose 6%, and free cash flow increased 14%. Full-year guidance anticipates 4% sales growth and a 29% EBITDA margin.
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Q1 net sales grew 5% year-over-year, driven by strong volume and new products, with stable margins excluding CHF 14 million one-off Basel closure costs. Outlook anticipates stabilization in Europe by 2025 and mixed trends globally, while wage inflation and energy costs remain key risks.
Fiscal Year 2024
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Sales and profitability remained resilient in 2024 despite a sharp decline in European construction, with strong free cash flow and robust margins supported by new products and operational efficiency. Outlook for 2025 anticipates stable demand, continued innovation, and disciplined capital allocation.
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Q4 net sales declined 1% but grew 1% in local currencies, with full-year sales stable in CHF and up 2.5% in local currencies, driven by volume growth and new products. 2024 EBITDA margin is guided slightly below last year, with stabilization in demand expected in 2025 and continued strategic investments.
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Strong Q3 and nine-month results were achieved despite a declining construction market, with sales and margins up in local currencies, robust performance in emerging markets, and double-digit growth in new products. Margin pressure is expected in Q4 due to lower material price tailwinds and volume decline.
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Net sales grew 2% in local currencies despite a weak European construction market, with stable high margins and strong free cash flow. Margin pressure is expected in H2 due to less favorable material cost trends, but strategic initiatives and a new share buyback program support confidence.