Aug 15, 2024 / 07:00AM GMT
Christian Buhl - Geberit AG - Chief Executive Officer, Chairman of the Executive Board
And good morning, ladies and gentlemen, and welcome to our half year results conference call. Geberit achieved in a difficult market environment, convincing results in the first call of the year. Let me start with the three key statements for H1. First, slight net sales growth in local currencies of 2% despite a declining building construction market in Europe. Second, a stable profitability on very high level with an EBITDA margin of 31.6%. And thirdly, a significantly increased tax rate due to the new OECD minimum taxation law in Switzerland.
Let me begin our review with a few comments on the top-line. In the first half of the year. Net sales decreased by 1% to CHF1.64 billion, negatively affected by currency effect. Negative currency effect led to a net sales loss of CHF52 million or minus 3%. In local currencies, net sales increased by 2%, of which 1% came from volume growth.
The slight volume growth was driven by two factors which compensated for the declining end market demand, a positive base
Half Year 2024 Geberit AG Earnings Call Transcript
Aug 15, 2024
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