Q2 2022 Geberit AG Earnings Call Transcript
Ladies and gentlemen, welcome to the Geberit First Half Year Results 2022 Conference Call. I am Sandra, the Chorus Call operator. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Christian Buhl, CEO. Please go ahead, sir.
Thank you for the introduction, and good morning, ladies and gentlemen, and welcome to Geberit Half Year Results Conference Call. Geberit achieved good results in the first 6 months of 2022, and especially considering the strong comparison basis with the record high results of last year. Let me start with a few key statements for the first half of the year. We achieved again a strong double-digit net sales growth in local currencies of 11%. Secondly, the unfavorable currency development led to a negative effect of around 6% on top and bottom line. And thirdly, the unprecedented increase of raw material and energy prices led to a temporary pressure on operating margins since sales price increases can only
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