Full Year 2023 Geberit AG Earnings Press Conference Transcript
Good morning, ladies and gentlemen. Welcome to our Analyst and Media Conference. Welcome also for the participants at the webcast.
The presentation is structured as follows. And as usual, first, I will provide you with an overview of 2023 and comment on the sales development. Thereafter, Tobias will present the financial results. Then I will talk about the outlook for this year. And also, as usual, you have the opportunity to ask questions at the end.
So let me start with 2023, our key figures. 2023 was a very difficult year for Geberit. However, we managed in a very challenging environment to deliver good results, in particular, improved margins again. Net sales declined in local currencies by 5% due to a volume contraction of minus 13%, the strongest volume decline since decades. EBITDA margin reached 29.9%, an increase of 310 basis points, thanks to our strong operational flexibility and consequent price management.
EPS decreased by 4% in local currencies and reached CHF 18.39 due to a favorable
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