Half Year 2023 Geberit AG Earnings Call Transcript
Ladies and gentlemen, welcome to the Geberit Conference Call on the First Half Year Results 2023. 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.
A warm introduction, and good morning, ladies and gentlemen, and welcome to our Geberit Half Year Results Conference Call. First, let me apologize. We had some technical issues this morning and the delay with the sent-out of our press release, 20 minutes delay. I'm sorry for that.
So let me start with our introductionary remarks. Despite an extraordinary difficult market environment, Geberit achieved convincing results in the first 6 months with a very challenging top line. However, a good development of the bottom line.
Let me start with the key statements for the first half of the year. Our net sales declined in local currencies of minus 9% due to a very strong
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