Q4 2019 Geberit AG Earnings Call Transcript
Good morning, ladies and gentlemen. Welcome to our analyst conference. I would also like to welcome those who are viewing this conference via webcast, which is the majority today, I guess. Together with Roland Iff, I'm pleased to present to you our full year 2019 results.
Our presentation is structured as follows. First, I will give you an overview of 2019 and comment on the sales development. Roland Iff will then present the financial results. Thereafter, I will give you an update on the outlook for the building construction industry and the perspectives for Geberit. We will then summarize and take your questions.
Let me start with our key financial results. Geberit achieved very good results in 2019. Sales were CHF 3.1 billion on previous year's level. In local currencies, sales increased by 3.4%. The EBITDA margin increased to 29.3% despite high wage inflation and extraordinary marketing costs. Net income went up by 3.3% compared to adjusted previous year's figures, corresponding to a margin of 21% of net
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