Annual Report 2022

Annual Report 2022

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28. Segment reporting

The Geberit Group consists of one single business unit, the purpose of which is to develop, produce and distribute sanitary products and systems for the residential and commercial construction industry. The major part of the products is generally distributed through the wholesale channel to plumbers, who resell the products to the end users. Products are manufactured by plants that specialise in particular production processes. As a general rule, one specific article is produced at only one location. Distribution is carried out by country or regional distribution subsidiaries, which sell to wholesalers. A distribution subsidiary is always responsible for the distribution of the whole range of products in its sales area. The main task of the distribution companies is local market development, which primarily focuses on the support of installers, sanitary planners, architects, wholesalers and other distributors. Research and development of the whole range of products is carried out centrally by Geberit International AG. All corporate tasks are also centralised at Geberit International AG.

Due to the unity and focus of the business, the top management (Group Executive Board) and the management structure of the Geberit Group are organised by function (Overall Management, Sales Europe, Sales International, Marketing & Brands, Operations, Products, Finance). The financial management of the Group by the Board of Directors and the Group Executive Board is based on net sales by markets and product areas and on the consolidated income statement, balance sheet and statement of cashflows.

Segment reporting is therefore prepared according to IFRS 8.31 et seq. (one single reportable segment), and the valuation is made in accordance with the same principles as the consolidated financial statements. The basis for revenue recognition is the same for all markets and product areas. The geographical allocation of net sales is based on the domicile of the customers.

The information is as follows:

 

 

2022

 

2021

 

 

MCHF

 

MCHF

Net sales by product areas

 

 

 

 

Installation and Flushing Systems

 

1,258.1

 

1,324.4

Piping Systems

 

1,095.0

 

1,054.7

Bathroom Systems

 

1,038.8

 

1,081.4

Total net sales

 

3,391.9

 

3,460.5

 

 

2022

 

2021

 

 

MCHF

 

MCHF

Net sales by markets

 

 

 

 

Germany

 

1,016.9

 

1,083.6

Switzerland

 

342.4

 

328.8

Eastern Europe

 

321.6

 

349.9

Nordic Countries

 

319.0

 

331.0

Benelux

 

279.5

 

289.5

Italy

 

250.5

 

237.1

Austria

 

204.3

 

213.7

France

 

181.5

 

187.3

United Kingdom/Ireland

 

115.7

 

108.4

Iberian Peninsula

 

27.5

 

26.8

Europe

 

3,058.9

 

3,156.1

Middle East/Africa

 

96.0

 

82.1

America

 

107.1

 

99.8

Far East/Pacific

 

129.9

 

122.5

Total net sales

 

3,391.9

 

3,460.5

 

 

2022

 

2021

 

 

MCHF

 

MCHF

Share of net sales by customers

 

 

 

 

Customers with more than 10% of net sales: customer A

 

569.3

 

626.6

Total > 10%

 

569.3

 

626.6

 

 

 

 

 

Remaining customers with less than 10% of net sales

 

2,822.6

 

2,833.9

Total net sales

 

3,391.9

 

3,460.5

 

 

2022

 

2021

 

 

MCHF

 

MCHF

Property, plant and equipment 1 by markets

 

 

 

 

Germany

 

348.1

 

342.5

Switzerland

 

208.3

 

205.8

Eastern Europe

 

130.9

 

137.2

Nordic Countries

 

59.9

 

57.1

Benelux

 

13.6

 

14.3

Italy

 

58.2

 

62.5

Austria

 

39.1

 

41.9

France

 

13.1

 

13.7

United Kingdom/Ireland

 

8.5

 

11.3

Iberian Peninsula

 

16.9

 

14.0

Europe

 

896.6

 

900.3

Middle East/Africa

 

7.1

 

7.5

America

 

12.1

 

12.8

Far East/Pacific

 

32.5

 

35.3

Total property, plant and equipment

 

948.3

 

955.9

1

Includes the Group’s own as well as leased property, plant and equipment