Geberit AG (0QQ2) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to our Q1 results conference call. Geberit had a successful start into the year 2026. Let me start with the key statements for Q1. First, an encouraging net sales growth of 3.4% in local currencies, negatively affected by pre buying of wholesalers in December last year and the cold weather in Northern Europe in January and February this year. Second, stable operating margins, if one time costs from the previous year are and currency effects are excluded. And third, a growth of earnings per share of 4% in Swiss francs and 10% in local currency. Let me now comment on our net sales development in more detail. Net sales grew by 3.4% in local currencies to CHF $873,000,000, equally driven by volume and price. A strong negative currency effect of CHF 35,000,000 or minus 4.0% led to a net sales decline in Swiss francs of minus 0.7%. We come now to the regional development. All growth figures refer to growth in local currency. In Europe, net sales increased by 3% with growth in all markets except the Nordics due to the bad weather in January and February. In the Middle East Africa region, net sales increased by 13%. Sales in March also increased despite the war in Iran. Only a small portion of the business in March was affected by the war, namely shipments that were logistically disrupted due to the closure of the Strait Of Hormuz. This currently still disrupted business accounts for less than 1% of group sales and is therefore very limited on group level. The remaining business in the Gulf Region, which is not served through the Strait Of Hormuz, has been and continues to operate at normal levels. This brings me to the other two international regions. In America, net sales increased in Q1 decreased in Q1 by 4% due to a softer proj...