(CercleFinance.com) – Geberit fell 4% in Zurich, the day after the sanitary equipment manufacturer published EPS down 5.4% to 10.93 Swiss francs for the first half of 2023, but up 2.2% in local currencies.
It increased its EBITDA margin by 2.7 points to 31.7%, for a turnover down 14.1% to 1.66 billion francs (-9.2% excluding currency effects) ‘in an extraordinarily difficult environment with a decline in the construction sector in Europe’.
Despite a significant decline in volumes compared to record levels a year earlier, Geberit improved its profitability thanks to ‘firm sales price management, lower energy prices and above all high operational flexibility’ .
For the current year as a whole, its management anticipates a decline to a ‘mid-single digit range’ of its revenue in local currencies, as well as an EBITDA margin of l 29% order.
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