Good business year under challenging conditions
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Geberit AG / Key word(s): Annual Results A very challenging business year 2022 is behind the Geberit Group. The effects of the COVID-19-induced home improvement trend and the outbreak of war in Ukraine, as well as the sharp increase in inflation worldwide, led to strongly fluctuating volumes during the course of the year. In turn, this placed some very high demands in terms of flexibility on Purchasing, Production, Logistics and Sales. Following an unprecedented rise, the costs of raw materials and energy reached new records in the reporting year, which put margins under enormous pressure. Exchange rate developments also had an extremely negative impact on results. Taking into account these challenging conditions and the records set in the previous year, Geberit was nonetheless able to post good results in 2022. The comparison with pre-COVID results remains very positive, which is reference to the structural and financial strength as well as the prudent crisis management right from the start of the pandemic. This enabled the Geberit Group to further consolidate its position as leading supplier of sanitary products and gain market shares. In 2022, net sales for the Geberit Group decreased by 2.0% to CHF 3,392 million. Local currencies saw growth of 4.8%. Operating cashflow (EBITDA) decreased by 15.0% to CHF 909 million, which corresponds to an EBITDA margin of 26.8%. Compared to the operating results, net income decreased less than proportional by 6.5% to CHF 706 million. This corresponds to a return on net sales of 20.8%. The accelerated share buyback programme had a positive effect on earnings per share, which only decreased by 4.0% to CHF 20.48. In local currencies, earnings per share increased by 4.7%. Read more on: www.geberit.com/mediarelease. Please visit our website www.geberit.com for additional information. The online version of the complete annual report is available on www.geberit.com/annualreport. Don't hesitate to contact us for any other inquiries. End of Inside Information |
1577139 08-March-2023 CET/CEST
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