Geberit reported a strong operational start to 2026, delivering growth in key metrics despite ongoing macroeconomic uncertainty and negative currency effects.
Sales growth masked by currency headwinds
For the first quarter, net sales declined slightly by 0.7% to CHF 873 million. However, when adjusted for currency impacts, revenue increased by 3.4%, driven primarily by volume growth and pricing.
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Performance varied across regions. Europe recorded a 3.3% increase in currency-adjusted sales, while the Middle East and Africa delivered stronger growth of 13.5%. In contrast, the Far East/Pacific region declined by 0.6% due to continued market weakness in China, and the Americas fell by 4.4%.
Across product segments, Installation and Flushing Systems led with a 4.3% increase, while Bathroom Systems and Piping Systems both grew by 2.8%.
Profitability strengthens
Operational performance remained resilient. EBITDA rose by 2.3% to CHF 283 million, with the margin improving to 32.5%, up from 31.5% in the same period last year.
Net income increased by 4.5% to CHF 196 million, while earnings per share reached CHF 5.94, also up 4.5%. Adjusted for currency effects, EPS growth was even stronger at 9.9%.
Margins benefited from volume growth, lower material costs and price increases, although these gains were partly offset by wage inflation and higher investments in marketing, IT and digitalisation.
Market outlook remains uncertain
Looking ahead, Geberit highlighted growing geopolitical risks and macroeconomic uncertainty, particularly linked to conflicts in the Middle East.
In Europe, the company expects only modest growth in 2026, with no full market recovery yet in construction. The renovation segment—representing around 60% of sales—is forecast to show slight improvement, supported by indicators such as rising real estate transactions.
Globally, the outlook is mixed. Strong demand is anticipated in markets like India, while China is expected to remain under pressure due to a continued slowdown in new construction activity.
Strategic focus for 2026
To strengthen its market position, Geberit will continue to invest in product innovation, digitalisation and marketing. Key initiatives include promoting recently launched systems such as FlowFit and Mapress Therm, alongside expanding logistics capabilities and targeting architects and end-users more directly.
Despite external challenges, the group enters 2026 with stable margins, improving profitability and a continued focus on long-term growth.
More information:
Geberit
[email protected]
www.geberit.com
