(RTTNews) – Geberit AG (GBERY.PK, GBERF.PK), a Swiss maker of sanitary parts and related systems, reported Thursday that its net income for the first nine months of fiscal 2024 dropped 3.1 percent to 501 million Swiss francs from last year’s 516 million francs.
Earnings per share fell 1.4 percent to 15.13 francs from 15.35 francs a year earlier. In local currencies, however, there was an increase of 3.1 percent.
Operating profit or EBIT, however, grew 1.5 percent from last year to 643 million francs, and operating cashflow or EBITDA edged up 0.7 percent to 754 million francs. The EBITDA margin increased by 10 basis points to 31.4 percent.
Net sales increased 0.4 percent to 2.40 billion francs from last year’s 2.39 billion francs. The sales growth was 3.1 percent in currency-adjusted terms, driven by volume growth, despite the sharp decline in the building construction industry.
Net sales in the third quarter reached 762 million francs, an increase of 4.7 percent from the previous year. Adjusted for currency effects, sales increased 6.2 percent, driven by convincing development in most markets.
Looking ahead for fiscal 2024, Geberit now expects growth of 1 to 2 percent in net sales in local currencies and an EBITDA margin of around 29.5 percent.
The company previously expected net sales in local currencies to be at the prior-year level and an EBITDA margin of around 29 percent.
The EBITDA margin in the fourth quarter of the year is always significantly lower than in the first three quarters due to seasonal factors.
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Source : Nasdaq