Geberit AG (0QQ2) Q1 2025 Earnings Call

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WEBVTT 00:00:00.191 -- 00:00:03.292 Thank you for the introduction and good morning ladies and gentlemen. 00:00:03.292 -- 00:00:08.533 Welcome to our Q1 results conference call. 00:00:08.533 -- 00:00:13.674 Geberit had a successful start into the year with strong results. 00:00:13.674 -- 00:00:17.655 Let me start with the key statements for Q1. 00:00:17.655 -- 00:00:22.736 First, we achieved the mid single digit net sales growth despite one working day 00:00:22.736 -- 00:00:27.826 less. And second, We kept operating margins stable 00:00:27.826 -- 00:00:32.969 on all levels of the P&L, excluding one-time costs for the closure of our 00:00:32.969 -- 00:00:37.372 ceramics plant in Wesel, announced in January this year. 00:00:37.372 -- 00:00:42.536 We booked in the first quarter 14 million Swiss francs one-time costs for this 00:00:42.536 -- 00:00:48.300 site closure, 12 million on OPEX and 2 million on depreciation 00:00:48.300 -- 00:00:50.221 level. 00:00:50.221 -- 00:00:55.242 Let me now comment on our net sales development in more detail. 00:00:55.242 -- 00:01:00.805 Net sales grew by 5%, both in Swiss franc and local currencies, 00:01:00.805 -- 00:01:02.547 to 878 00:01:02.547 -- 00:01:07.930 million Swiss francs. This growth was fully driven by volume and a slightly 00:01:07.930 -- 00:01:12.553 negative price effect on net sales price level. 00:01:12.553 -- 00:01:18.436 The small negative price effect on net sales level was caused by two factors. 00:01:18.436 -- 00:01:23.640 First, the technical reason. We increased sales prices as of April 00:01:23.640 -- 00:01:29.074 as announced. However, we increased customer bonuses already as of January 00:01:29.074 -- 00:01:32.916 this year as this is regular market practice. 00:01:32.916 -- 00:01:38.158 This difference in t...