Geberit AG (0QQ2) Q2 2026 Earnings Call

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WEBVTT NOTE Transcription provided by Deepgram Request Id: 01a03fce-677a-7ff0-b1ef-fe987f33685c Created: 2026-08-26T20:41:28.949Z Duration: 2949.1462 Channels: 1 00:00:00.000 -- 00:00:01.680 Good morning, ladies and gentlemen, 00:00:01.839 -- 00:00:02.879 and welcome 00:00:03.040 -- 00:00:06.080 to Geberit's Half Year Results Conference Call. 00:00:06.720 -- 00:00:09.760 Geberit achieved very strong results in the first 00:00:09.760 -- 00:00:11.200 half of the year. 00:00:11.679 -- 00:00:14.400 Let me start with the three key statements 00:00:14.400 -- 00:00:15.280 for H1. 00:00:15.965 -- 00:00:16.605 First, 00:00:16.925 -- 00:00:19.565 a net sales growth of 6% in local 00:00:19.565 -- 00:00:20.365 currencies, 00:00:20.765 -- 00:00:23.165 primarily driven by strong volume growth 00:00:23.565 -- 00:00:24.445 second, 00:00:24.685 -- 00:00:26.285 stable operating margins 00:00:26.445 -- 00:00:27.404 and third, 00:00:27.805 -- 00:00:31.885 strong EPS growth of 8% in Swiss francs 00:00:31.110 -- 00:00:32.310 and 11% 00:00:32.310 -- 00:00:33.750 in local currencies 00:00:33.910 -- 00:00:35.590 supported by accelerated 00:00:35.590 -- 00:00:36.790 share buybacks. 00:00:38.230 -- 00:00:40.550 Let me begin our review with few comments 00:00:40.550 -- 00:00:42.790 on the top line in the first half 00:00:42.790 -- 00:00:43.350 of the year. 00:00:44.455 -- 00:00:47.015 Net sales increased by 3% 00:00:47.175 -- 00:00:48.455 to CHF1.71 00:00:48.455 -- 00:00:49.175 billion, 00:00:50.215 -- 00:00:53.255 negatively affected by strong currency effects. 00:00:53.895 -- 00:00:55.575 Negative currency effects 00:00:55.655 -- 00:00:58.135 led to a net sales loss of CHF53 00:00:58.135 -- 00:00:58.455 million 00:00:59.430 -- 00:01:01.190 or minus 3%. 00:01:01.590 -- 00:01:03.030 In local cu...