Geberit feels the effects of instability in 2022

The Swiss sanitaryware group reported a 2% decline in net sales but maintained its solid financial foundations.

Despite the impact of a challenging business environment and negative exchange rates on its financial results, in 2022 the Geberit Group was able to maintain its structural solidity and cement its position as a leading sanitaryware supplier while increasing its market share.

Net sales fell by 2% year-on-year to CHF 3,392 million due to negative currency effects (in local currencies, net sales grew by 4.8%). EBITDA declined by 15% to CHF 909 million (EBITDA margin of 26.8%), while net profit fell by 6.5% to CHF 706 million. Over the entire 12 month period, all European markets recorded positive growth rates (+4.3% after currency adjustments), while the Middle East/Africa region continued to see double-digit growth (+21.4%). The Group also reported growth in the Americas (+2.8%) and the Far East/Pacific region (+6.5%).

All three business units performed well: Installation & Flushing Systems grew by 2%, Bathroom Systems by 2.3% and Piping Systems by 10.8%.

Despite the challenges faced during the year, the company’s strategic choices were guided by its focus on sustainability. CO_² emissions fell by 18.1% compared to 2021 (and by a total of 56.4% since 2015) to 150,591 tonnes, surpassing the annual emissions reduction target of 5%. The ambitious goal was achieved by reducing energy consumption, increasing efficiency and using renewable energy sources.

In 2023, Geberit will continue to implement its digitalisation and new product development strategies and will exploit its solid financial foundations to pursue its medium-term targets of 4-6% sales growth and a 28-30% increase in EBITDA.