Geberit Group navigates through difficult financial year 2023
In the midst of a declining European construction industry and a shift in the demand structure, the Geberit Group mastered the 2023 financial year with adaptability and strategic price management.
2023 was a challenging year for the Geberit Group, characterised by a slowdown in the construction industry in Europe and a change in demand that increasingly focused on heating systems. Despite a significant decline in volumes and pressure on the sanitary industry, the company managed to improve operating margins – a testament to its agile production and logistics processes, lower energy costs and efficient price management. Although the increased strength of the Swiss franc posed a challenge, the effects were largely offset by the robust corporate structure.
This resilience enabled the Group to consolidate its market leadership in the sanitary ware sector and expand its market share. Although net sales fell by 9.1 % to CHF 3,084 million, operating cash flow (EBITDA) increased by 1.4 % to CHF 921 million, which corresponds to a remarkable EBITDA margin of 29.9 %. Despite a 12.6 % decline in net profit to CHF 617 million due to a one-off tax benefit in the previous year, the net return on sales remains strong at 20.0 %. Earnings per share fell by 10.2 % to CHF 18.39, but continue to reflect the Group’s financial robustness.