Geberit sees stable annual sales after in-line half-year results
Aug 15 (Reuters) -Swiss plumbing materials supplier Geberit GEBN.S said it expected its full-year sales to be stable compared to 2023 after it posted half-year results in line with expectations on Thursday.
The company, which supplies piping, bathroom ceramics and shower toilets, said its earnings before interest, tax, depreciation and amortisation (EBITDA) reached 518 million Swiss francs ($599 million) in the first half of 2024, a touch above analysts' forecast of 517 million in a poll conducted by newswire AWP.
Geberit said it expected its annual net sales in local currencies to be similar to last year, with an EBITDA margin of around 29%.
The EBITDA margin in the second half of the year is always lower than in the first half due to seasonal factors, Geberit added.
($1 = 0.8651 Swiss francs)
Reporting by Anastasiia Kozlova and Amir Orusov in Gdansk; editing by Milla Nissi
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