Geberit Ag · SIX:GEBN
Geberit — Sanitec — Shareholder Meeting (May 2014)
13 slides from Geberit's shareholder meeting presentation, May 2014
Slide 1: Annual General Meeting 2014
Annual General Meeting 2014 CEO statement May 2014
Slide 2: Sanitec: Home of the Bathroom
Sanitec Home of the Bathroom
Slide 3: Sanitec—Home of the Bathroom
Sanitec—Home of the Bathroom Selection of products Leading markets positions in the stronger economics of Europe Bathroom ceramics Ceramics complementary products Mature and consolidated industry with high barriers to entry Unique portfolio of leading and longstanding brands with a loyal customer ba
Slide 4: Leading positions in the stronger economies of Europe
Leading positions in the stronger economies of Europe Excellent geographical footprint North Europe (25%) Market size: €0.7bn East Europe (16%) GDP growth: 1.9% Market size: €1.2bn GDP growth: 2.3% UK & Ireland (7%) Market size: €1.2bn GDP growth: 2.6% South Europe (17%) Central Europe (31%) Market
Slide 5: Unique portfolio of leading and longstanding brands
Unique portfolio of leading and longstanding brands Strength of brands and customer relationships evidenced by sticky market shares Sanitec bathroom ceramics market share in core markets by value Sanitec‘s national jewels (%) 61 67 36 32 27 21 18 17 17 17 North Central UK and South East Ireland (Swe
Slide 6: Industry with significant cyclical upside
Industry with significant cyclical upside European bathroom fixtures market has a total market value of €8.1 billion with demand driven primarily by more resilient RMI activity Comments Residential construction (€bn)3 Sanitec’s main market, bathroom ceramics, represents c. 20% (€bn) Forecast (€1.6
Slide 7: Organic growth and incremental efficiency improvement
Organic growth and incremental efficiency improvement Well articulated strategic priorities Sanitec’s strategy Key highlights 4 1 Drive value growth through innovation, 1 3 renewal and streamlining of core Drive value through innovation Grow product portfolio Bathroom ceramics opportunities and pro
Slide 8: Best-in-class profitability among Ceramics peers
Best-in-class profitability among Ceramics peers EBITDA margin full year 2013 EBITDA margin (%) 30 25,9 25 19,7 20 14,6 11,4 15 9,9 7,4 10 3,1 5 0 1 2 3 Rovese 3 1 4 Ceramics peers Bathroom peers Notes: 1 Adjusted EBITDA margin 2 Reported EBITDA margin for the Bathroom and Wellness division only 3 R
Slide 9: Key developments during Q1
Key developments during Q1 Recovery in the European economy Q1 Net sales in Germany 10% y-o-y 1 Q1 2014 5.4% Organic growth in 4 of 5 regions during Q1 Net sales y-o-y One Sanitec delivers Q1 2014 EBIT-margin 10.6% +2.9 p.p. y-o-y Q1 cash Exceeding financial cash conversion target conversion 88% On
Slide 10: Quarterly sales and profitability development
Quarterly sales and profitability development Quarterly sales1 and profitability Comments (EUR million) (%) Clear improvement in relative performance 250 18 quarter over quarter since beginning of 2013 16 200 14 11.1 12.1 12 Continued successful “One Sanitec” 11.0 10.7 10.6 150 10.0 implementati
Slide 11: Sales split by geography
Sales split by geography Recovery driven by strong performance in Central Europe Net sales by regions¹ Comments (€m) Strong performance in Central Europe driven 225 Q1 Y-o-Y growth by Germany 200 5.9 5.4 4.9 10% 175 13.5 5.1 4.4 12.8 11.9 6.1 6.5 13.6 Strong performance in the Nordic Region 13.2
Slide 12: Update on our long-term financial targets
Update on our long–term financial targets Strong financial performance—on track to deliver on our long-term financial targets (%) 5,4 (10,9) 1.4 Relative growth Growth above market +2 p.p. 0 (10) (5,4) (3.9) improvement Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 quarter by quarter (%) 20 11.0 12,1 10
Slide 13: Q&A
Q&A