Geberit reports 14% drop in H1 revenue

Credit: REUTERS/Arnd Wiegmann

Aug 17 (Reuters) - Swiss plumbing supplies maker Geberit GEBN.S on Thursday reported a 14% drop in revenue for the first half of the year, citing a difficult environment in the European construction industry.

The group, which makes piping and ceramic products for bathrooms, reported turnover of 1.66 billion Swiss francs ($1.89 billion) for the first six month of 2023,down from 1.93 billion francs the previous year.

For the full year, the company now expects a mid-single-digit decline in net sales in local currencies and an EBITDA margin of around 29%.

($1 = 0.8803 Swiss francs)

(Reporting by Anastasiia Kozlova and Amir Orusov in Gdansk, Editing by Friederike Heine)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.