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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Geberit AG    GEBN   CH0030170408

GEBERIT AG

(GEBN)
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Delayed Quote. Delayed Swiss Exchange - 05/26 05:20:51 am
466.5 CHF   -0.26%
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Geberit : more cautious about building industry, lowers sales outlook

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10/30/2018 | 01:20am EDT
Logo of shower toilet and plumbing supplies maker Geberit is seen in Rapperswil-Jona

ZURICH (Reuters) - Shower toilet and plumbing supplies maker Geberit on Tuesday lowered its full year sales outlook and said it was seeing slightly weaker growth in the building industry.

The Swiss company said it now expected full year sales growth of "around 3 percent", when adjusted for currency swings, down from its earlier view of 4 percent it had forecasted in August.

"Compared with the situation when the half-year results were published, the forecasts for the building industry are slightly more cautious after nine months – but remain positive overall," Geberit said.

The results of companies like Geberit are closely watched as signals for the health of the broader construction industry, with its products used in new buildings as well as refurbishment projects.

The company said it was still facing problems finding enough installers in Germany, its biggest market, while Austria, France, and the Benelux countries were seeing slower sales momentum.

It was also more cautious about Italy, citing political uncertainty, while it expected a "downward trend" in Britain as a result of Brexit.

Still, Geberit said it expected an operating cashflow margin of around 28 percent for 2018, a similar level to 2017.

The revised outlook came as the company reported net profit and sales both short of expectations during its third quarter.

Net profit of 145.6 million Swiss francs(113.54 million pounds) missed average forecasts for 160 million francs expected by analysts polled by Reuters..

Earnings before interest, tax, depreciation and amortisation of 213.3 million francs was below forecasts of 229 million francs.

Third quarter sales of 740.7 million francs, was also short of forecasts for 760 million francs.

($1 = 1.0017 Swiss francs)

(Reporting by John Revill, editing by Riham Alkousaa)

By John Revill

Stocks mentioned in the article
ChangeLast1st jan.
DEERE & COMPANY -1.47% 140.71 Delayed Quote.-18.79%
GEBERIT AG -0.13% 466.5 Delayed Quote.-13.90%
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Financials (CHF)
Sales 2020 2 754 M
EBIT 2020 660 M
Net income 2020 546 M
Debt 2020 435 M
Yield 2020 2,36%
P/E ratio 2020 30,5x
P/E ratio 2021 27,8x
EV / Sales2020 6,27x
EV / Sales2021 5,91x
Capitalization 16 841 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 412,07 CHF
Last Close Price 467,70 CHF
Spread / Highest target 5,49%
Spread / Average Target -11,9%
Spread / Lowest Target -26,3%
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Managers
NameTitle
Christian Buhl Chief Executive Officer
Albert M. Baehny Non-Executive Chairman
Martin Ziegler Head-Operations
Roland Iff Chief Financial Officer
Felix Klaiber Head-Technology & Innovation