Geberit AG (0QQ2) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Geberit's Half Year Results Conference Call. Geberit achieved very strong results in the first half of the year. Let me start with the three key statements for H1. First, a net sales growth of 6% in local currencies, primarily driven by strong volume growth second, stable operating margins and third, strong EPS growth of 8% in Swiss francs and 11% in local currencies supported by accelerated share buybacks. Let me begin our review with few comments on the top line in the first half of the year. Net sales increased by 3% to CHF1.71 billion, negatively affected by strong currency effects. Negative currency effects led to a net sales loss of CHF53 million or minus 3%. In local currencies, net sales increased by 6% driven by an improved market environment in Europe and strong demand for our products across markets and all three product areas. The top line growth was primarily driven by volumes with a growth rate of around 4.5%. Increased sales prices contributed around 1.5% to top line growth. This brings me to the regional net sales development in Europe. All growth figures refer to growth in local currency. All main countries and reporting regions, except Western Europe, delivered strong growth rates in the first six months. In Eastern Europe, net sales grew by 12% with particularly strong growth in the Adriatic Region and Poland. In Switzerland, net sales increased by 10% supported by a base effect and strong market demand. Net sales in Italy increased by 7% despite a softening market. In Benelux, net sales grew by 7% with strong growth in Belgium and The Netherlands. In the Nordic countries, net sales grew 6% in an improved market environment. In Austria, net sales grew by 6% despite a very strong comparison base wit...