Geberit Ag · SIX:GEBN
Geberit — 9M 2020 Earnings Presentation
16 slides from Geberit's earnings presentation, Oct 29, 2020
Slide 1: 9M 2020 Results
9M 2020 Results Updated version from 29.10.2020; 08:45 Christian Buhl, CEO Roland Iff, CFO 29 October 2020
Slide 2: Agenda
Agenda • Q3 2020 key figures • 9 months 2020 results • Outlook SLIDE 2 9M 2020 RESULTS OCTOBER 29 2020
Slide 3: Q3 2020 – Strong net sales and EBITDA margin growth
Q3 2020 – Strong net sales and EBITDA margin growth Net sales growth (in CHF) Net sales growth (currency adj.) EBITDA margin +5.3% +8.5% 33.2% +250 bps vs PY EPS growth (in CHF) Share buyback (in CHF) COVID-19 impact • Catch-up effects from lockdown in Q2 +11.6% 4 million • Low marketing & administr
Slide 4: Q3 2020 – Net sales development by regions and product areas
Q3 2020 – Net sales development by regions and product areas Net sales in million CHF Variance to PY in CHF Variance to PY in c.a. Geberit Group 794 +5.3% +8.5% By region Europe 726 +6.9% +9.6% Far East / Pacific 25 -12.4% -7.1% America 25 -0.9% +6.2% Middle East / Africa 18 -14.4% -4.3% By product
Slide 5: Q3 2020 – Net sales development by markets
Q3 2020 – Net sales development by markets Share of Net sales, net sales CHF million Net sales growth, % c.a. Total 8.5% Germany 33% 255 12.4% Switzerland 10% 80 6.8% Eastern Europe 9% 75 8.4% Nordics 9% 72 5.9% Benelux 7% 57 -3.5% Europe Italy 7% 57 24.1% Austria 7% 53 12.8% France 6% 44 11.4% Unit
Slide 6: Key figures Q3 2020
Key figures Q3 2020 CHF million Q3 2020 Q3 2019 % YoY Net sales 794 754 5.3% • Negative currency translation effect EBITDA 264 231 14.1% • EBITDA margin improvement of 250 bps Margin 33.2% 30.7% • Acceleration of margin improvement in Q3 driven by EBIT 227 195 16.4% Margin 28.6% 25.9% − Operating le
Slide 7: Agenda
Agenda • Q3 2020 key figures • 9 months 2020 results • Outlook SLIDE 7 9M 2020 RESULTS OCTOBER 29 2020
Slide 8: 9M 2020 – Net sales decrease driven by currencies and improved profitability
9M 2020 – Net sales decrease driven by currencies and improved profitability Net sales growth (in CHF) Net sales growth (currency adj.) EBITDA margin -5.0% -0.4% 32.1% +130 bps vs PY EPS growth (in CHF) Share buyback (in CHF) COVID-19 impact • Negative impact since 2nd half of March, improvement sin
Slide 9: Net sales 9M 2020 – Substantial negative currency effect
Net sales 9M 2020 – Substantial negative currency effect In CHF million Total variance: CHF -119 million (-5.0%) 2′381 9 110 2′262 Net sales Growth Currency Net sales 9M 2019 in local currency effect 9M 2020 -0.4% -4.6% SLIDE 9 9M 2020 RESULTS OCTOBER 29 2020
Slide 10: 9M 2020 - Net sales by regions and product areas
9M 2020 - Net sales by regions and product areas Net sales in million CHF Variance to PY in CHF Variance to PY in c.a. Geberit Group 2’262 -5.0% -0.4% By region Europe 2’079 -3.8% +0.7% Far East / Pacific 65 -20.1% -14.5% America 73 -6.0% -1.5% Middle East / Africa 47 -26.0% -18.8% By product area I
Slide 11: 9M 2020 – Net sales decline in countries with severe COVID-19 lockdown
9M 2020 – Net sales decline in countries with severe COVID-19 lockdown Share of Net sales, net sales CHF million Net sales growth, % c.a. Total -0.4% Germany 33% 749 5.8% Switzerland 10% 230 2.7% Nordics 10% 221 3.3% Eastern Europe 10% 218 3.7% Benelux 8% 187 -0.9% Europe Italy 6% 139 -11.0% Austria
Slide 12: Key figures 9M 2020 – Operational profitability above PY level
Key figures 9M 2020 – Operational profitability above PY level CHF million 9M 2020 9M 2019 % YoY • Negative currency translation impact Net sales 2’262 2’381 -5.0% • EBITDA margin increase despite COVID-19 driven sales EBITDA 726 732 -0.9% decline Margin 32.1% 30.8% − Fast and targeted cost containm
Slide 13: EBITDA margin 9M 2020 – Increase of margin by 130 bps
EBITDA margin 9M 2020 – Increase of margin by 130 bps +0.1% 32.1% -0.2% +1.8% 30.8% -0.4% EBITDA Volume and Price effects, Other cost Currency effect EBITDA margin 9M 2019 product mix effect net effects margin 9M 2020 • Negative volume effect due to COVID-19 driven volume decline • Positive net pric
Slide 14: Agenda
Agenda • Q3 2020 key figures • 9 months 2020 results • Outlook SLIDE 14 9M 2020 RESULTS OCTOBER 29 2020
Slide 15: Outlook Geberit 2020
Outlook Geberit 2020 • The outlook is based on the assumption of no second lockdown wave − Net sales in local currencies 2020 slightly below 2019 − Full year EBITDA margin 2020 above previous year SLIDE 15 9M 2020 RESULTS OCTOBER 29 2020
Slide 16: Disclaimer
Disclaimer While Geberit is making great efforts to include accurate and up-to-date information, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this handout and disclaim any liability for the use of it. The statements