Geberit AG (0QQ2) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen and welcome to Gebrecht's nine-month results conference call. We will start with the third quarter figures and then comment on the nine-month development and we'll finish as usual with an outlook. Gebrecht delivered strong top and bottom line results in Q3. First, net sales grew in local currencies by 5.4% despite a continued challenging market environment. Excluding one-time costs for the closure of the ceramics plant in Wesel, we kept operating margins stable. And third, despite these one-time costs, EPS grew currently adjusted by 6.4%. Let me now give you some comments on the phase development in the third quarter in more detail. Net sales increased in Swiss francs by 2.7% and reached 783 million Swiss francs. The currency impact affected the top line negatively by 21 million Swiss francs, or minus 2.7%. Local currencies grew net sales increased by 5.4%, supported by a positive price effect of around 1%. Let me turn to the regional developments in the third quarter, again in local currencies. In Europe, we achieved a sales growth of 6%, certified significant growth in almost all European markets, and a strong development of new products. Italy was the only major European market which recorded a sales decline last quarter due to the softening new build demand. In Middle East Africa, net sales increased by 16% in Q3, driven by strong growth in Turkey and Greece. America recorded a small sales decline of minus 2% due to wholesaler inventory rebalancing of the tariff-related price adjustments in H1. Net sales in the Far East Pacific declined by minus 80%, driven by the market contraction in China. partially offset by growth in India. Continuing with the sales development per product area in Q3, again in local currency. Installation an...