Geberit AG (0QQ2) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for the introduction and good morning, ladies and gentlemen. Welcome to our full year sales conference call. We will first comment on our fourth quarter sales figures, then review our full year sales performance, followed by our guidance for the operational and financial results in 2024, and then finish with the outlook for this year. Let me start by giving you some comments on the sales development in the last quarter. Net sales declined by 1% and reached 685 million Swiss francs. The unfavorable currency development affected net sales negatively by 40 million Swiss francs, or minus 2%. In local currencies, group net sales grew by 1%, entirely driven by volume growth. The continued volume growth in the fourth quarter is a further testament of our strong business performance last year, where most building construction markets were in sharp decline. Let me now comment on the sales development in local currencies of the regions and countries in the fourth quarter. In Europe, net sales increased by 1%, driven by growth in Central Europe, with Italy growing 6%, Benelux 5%, Germany 3%, Switzerland 1%, and Austria being stable year over year. Eastern Europe declined by 1% after strong growth in Q4 of 2023 of 33%. Northern Europe decreased by 4%, negatively affected by the divestment of the Nordic shower business per end of 2023, with a negative effect of minus 2% on net sales. Western Europe decreased by minus 7%, driven by declines in France and the UK. Outside Europe, net sales increased in Middle East Africa by 10%, despite an already very strong growth in the previous year quarter of 41%. And in America by 2%, also despite a strong previous year quarter. In Far East Pacific, net sales decreased by minus 9% due to weak sales in China, partially offset by India...