Geberit AG (0QQ2) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.516 Good morning, ladies and gentlemen, and welcome to Gebreit's half-year results 00:00:05.516 -- 00:00:07.738 conference call. 00:00:07.738 -- 00:00:12.161 Gebreit achieved convincing results in the first half of the year. 00:00:12.161 -- 00:00:17.206 Let me start, as usual, with the three key statements for H1. 00:00:17.206 -- 00:00:23.151 First, we achieved a net sales growth of 4% in local currencies 00:00:23.151 -- 00:00:27.613 despite a continued challenging market environment. 00:00:28.707 -- 00:00:33.889 Excluding one-time costs for the closure of our ceramics plant in Wesel, 00:00:33.889 -- 00:00:39.311 we kept operating margins stable. And third, we achieved an EPS 00:00:39.311 -- 00:00:41.572 growth of 6% 00:00:41.572 -- 00:00:47.674 if the plant closure costs and negative currency effects are excluded. 00:00:48.135 -- 00:00:52.617 Let me begin our review with a few comments on the top line for the first half of the 00:00:52.617 -- 00:00:54.277 year. 00:00:54.277 -- 00:00:58.699 Net sales increased by 2% to 1.66 00:00:58.920 -- 00:01:04.104 billion Swiss francs, negatively affected by currency effects. 00:01:04.104 -- 00:01:09.208 Negative currency effects led to a net sales loss of 37 million 00:01:09.208 -- 00:01:12.730 Swiss francs, or minus 2%. 00:01:12.730 -- 00:01:17.534 In local currencies, net sales increased by 4%, 00:01:17.534 -- 00:01:22.771 driven by growth in almost all countries in Europe, and the continued 00:01:22.771 -- 00:01:26.731 strong development of new products. 00:01:26.932 -- 00:01:30.413 The top line growth was fully driven by volumes. 00:01:30.413 -- 00:01:35.755 The sales price effect was around zero in H1, since the positive 00:01:35.755 -- 00:01:41.097 effect of the sales price increase in the ...