Zurich (awp) – Bathroom equipment manufacturer Geberit has managed to take advantage of price increases to increase its turnover in the first half of the year. Profitability, on the other hand, fell, under the battering of inflation.
Between January and the end of June, the St. Gallen group saw its net turnover prosper by 5.5% over one year, or 11.3% excluding currency effects, to 1.93 billion Swiss francs, while that the operating result (Ebit) contracted by 11.6% to 483 million, detailed the company Thursday in a press release.
Net profit came to 402 million, down 12.5% compared to the first half of 2021.
These key figures are lower than the forecasts of analysts consulted by the AWP agency.
By way of perspective, the management of Geberit expects a sideways evolution “at a very high level” of the prices of raw materials in the third quarter. For the full year, the company anticipates net sales growth of 5% to 9% in local currencies and a gross operating margin (EBITDA) of 28%, compared to 29% in the first half.
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