Geberit Shares Fall After 3Q Results Missed Expectations

By Cecilia Butini

Shares in Swiss sanitary products maker Geberit AG fell Thursday after the company reported results for the first nine months of the year that fell short of consensus expectations.

At 0841 GMT, Geberit traded 5.9% lower at CHF417.40.

The company posted earnings before interest and taxes of 653 million Swiss francs ($650.9 million) for the first nine months, down from CHF777 million the year prior. Aftertax profit for the period was CHF541 million, down from CHF653 million in the same period of 2021.

Analysts at Berenberg described the results as disappointing in a research note, noting that Geberit's Ebitda margin in the third quarter dropped well below consensus despite extraordinary price increases in 2021 and 2022.

Geberit said revenue rose slightly in Germany, its biggest single market. However, a decelerating trend in the third quarter compared with the previous three-month period and uncertainties persisting into the fourth quarter could mean a risk of the full year ending at the lower end of guidance, Berenberg said.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

11-03-22 0515ET