Geberit Ag · SIX:GEBN
Geberit — Q1 2017 Earnings Presentation
11 slides from Geberit's earnings presentation, May 2, 2017
Slide 1: Q1 2017 Results
Mm GEBERIT Q1 2017 Results 2 May 2017
Slide 2: Good first quarter results
Q1 2017 Results Good first quarter results • Net sales increased by 2.6% to CHF 737 million • Organic, currency adjusted net sales growth of 6.7% • Adjusted EBITDA increased by 4.6% to CHF 219 million, adjusted EBITDA margin reached 29.7% • Adjusted EBIT increased by 3.8% to CHF 191 million, adjuste
Slide 3: One-off impact on reporting 2017
Q1 2017 Results One-off impact on reporting 2017 • Net sales for Koralle only included for H1 2016 (CHF 23 million); organic growth rates will be calculated excluding Koralle • Varicor (CHF 10 million net sales in 2016) deconsolidated as of 1 January 2017; organic growth rates will be calculated exc
Slide 4: Organic sales growth in local currencies of 6.7%
Q1 2017 Results Organic sales growth in local currencies of 6.7% Net sales, in CHF million Total variance: + CHF 18 million (+ 2.6%) -16 737 +47 719 -13 Q1 2016 Divestment Organic Currency Q1 2017 Koralle and growth in local effect Varicor currencies - 1.9% + 6.7% - 2.2% 2 May 2017 4
Slide 5: Positive net sales development in all regions
Q1 2017 Results Positive net sales development in all regions Net sales growth by region in % (currency adjusted / organic) Total 6.7% Europe 6.2% Middle East / Africa 17.8% America 7.5% Far East / Pacific 16.9% Note: Organic growth corrected for Koralle and Varicor divestment 2 May 2017 5
Slide 6: Further improved profitability
Q1 2017 Results Further improved profitability CHF million Q1 2017 Q1 2016 % YoY • Disproportional growth of Net sales 737.1 718.6 2.6% operating results Adj. EBITDA 218.9 209.2 4.6% Margin in % of net sales 29.7% 29.1% EBITDA 216.7 207.5 4.4% • Higher raw material prices Adj. EBIT 190.8 183.8 3.8%
Slide 7: EBITDA margin analysis
Q1 2017 Results EBITDA margin analysis Adjustments / one-off Reported EBITDA margin +1.8% -1.5% 29.7% +0.0% 0.3% 29.1% +0.5% 0.2% -0.2% 28.9% 29.4% Adj. EBITDA Volume Other Price Currency Divestment Adj. EBITDA margin 2016 and product cost effects, net effect Koralle and margin 2017 mix effect Varic
Slide 8: One-off cost related to Sanitec acquisition
Q1 2017 Results One-off cost related to Sanitec acquisition Divestment, integration and restructuring Q1 2017 2017 outlook related cost CHF million CHF million Integration cost 1 5 Restructuring costs - 30-402) One-off (gain) loss from divestment1) 1 1 Total net cost on EBITDA level 2 36-46 Amortiza
Slide 9: Increase of raw material spot prices in the last 6 months
Q1 2017 Results Increase of raw material spot prices in the last 6 months 160 Polystyrene 150 140 Polyethylene 130 ABS 120 110 Aluminum 100 Copper 90 80 Nickel 70 Zinc 60 50 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 Index: December 2014 = 100 2 May 2017 9
Slide 10: Building industry outlook 2017
Q1 2017 Results Building industry outlook 2017 Europe Overall favourable but mixed market environment North America Growth of residential and stagnation in institutional sector Far East / Pacific Stabilization in China; positive for Australia and India Middle East / Africa Challenging market in Gulf
Slide 11: Disclaimer
Q1 2017 Results 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