Geberit: H1 earnings down 14%

(CercleFinance.com) - The Geberit share is up almost 1% in Zurich on Tuesday, even after the sanitary equipment manufacturer reported H1 2020 earnings that are down 13.
9% at 315 million Swiss francs.

Its operating cash flow margin (EBITDA) increased by 70 basis points to 31.5%, with revenues down 9.8% (-4.5% excluding currency effects) to 1.47 billion Swiss francs, against the backdrop of the impact of the Covid-19 crisis on the building sector in Europe.

Provided there are no new lockdowns introduced, Geberit expects sales to decline slightly excluding currency effects in the second half relative to last year, with a slightly lower FY 2020 EBITDA margin compared with 2019.


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