Very strong sales growth under challenging conditions

The Geberit Group posted good results in a very challenging environment in the first quarter of 2022. The challenges in the supply chains were successfully overcome. While the first quarter of 2022 saw extremely strong sales growth, there were also negative currency effects, plus massive price increases for raw materials, energy and transport that were partially offset through sales price increases. Consolidated net sales increased by 7.8% to CHF 980 million in the first quarter of 2022. Adjusted for currency effects, the increase even came to 13.0%. Results in local currencies saw increases on all levels. However, in Swiss francs, operating cashflow (EBITDA) fell by 3.7% to CHF 303 million. At 30.9%, the EBITDA margin again reached a very pleasing level. The decline in the operating result and a financial result in line with the level seen in the previous year led to a decrease in net income of 5.3% to CHF 220 million, corresponding to a return on net sales of 22.5%. By comparison, earnings per share saw a less than proportional decrease of 3.7% to CHF 6.29 due to the positive impact of the share buyback programme. In contrast, earnings per share increased by 3.7% in local currencies. Following the conclusion of the ongoing share buyback programme, it is also planned to start a new programme where shares amounting to a maximum of CHF 650 million will be repurchased over a maximum period of two years.

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