Geberit 4Q Sales CHF773M

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By Ed Frankl
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Geberit AG on Thursday said it saw strong 2021 sales growth overcoming supply-chain challenges, as the company benefited from a home-improvement trend driven by the coronavirus pandemic.

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Net sales rose 16% annually to 3.46 billion Swiss francs ($3.78 billion), the Swiss sanitary-goods maker said in a trading statement ahead of full 2021 reporting in March.

After currency adjustments, sales climbed 15%, the company said.

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Fourth quarter sales increased 6.7% to CHF773 million, an increase of 7.7% on a currency-adjusted basis.

The Rappersville-based company said sales growth was driven by home-improvement trends, manufacturing inventions in the construction industry, and market-share gains as a result of COVID-19.

“Despite the considerable challenges that arise with the supply chain, the group was able to protect product availability,” Geberit said.

However, it said it saw the first signs of a slowdown in the home-improvement trend in the second half of 2021, which primarily affected its bathroom systems division.

Geberit said it now expects an earnings margin before interest, taxes, depreciation and amortization of 31% in 2021, which previously marked expectations of 30% to 31%.

Write to Ed Frankl at [email protected]

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