Net sales
Decline in sales due to very high levels in previous year and declining building construction industry
In 2023, the Geberit Group’s net sales fell by 9.1% to CHF 3,084 million. This decrease was strongly influenced by negative currency effects of CHF 147 million as a result of the Swiss franc, which was significantly stronger compared to most other currencies. In local currencies, this resulted in a decline of 4.8%. Price increases of around 8% had a positive impact on the development. Volumes were significantly lower due to the declining building construction industry in Europe and the high prior-year level. Furthermore, the sanitary industry in some countries was negatively impacted by the shift in demand from sanitary to heating solutions.
63% of net sales were generated in euros, 10% in Swiss francs, 7% in Nordic currencies (SEK, DKK, NOK), 5% in US dollars, 4% in British pounds and 11% in other currencies in 2023.
Net sales development
2014–2023
(in CHF million)
The following changes in net sales in the markets and product areas are currency-adjusted.
European markets particularly affected by difficult environment
In 2023, the European markets suffered the most from the extraordinarily difficult underlying conditions for the building construction industry. Currency-adjusted net sales in Europe decreased by 6.0% overall. Slight growth was seen in Italy and Western Europe (United Kingdom/Ireland, France, Iberian Peninsula) with +1.9% and +0.4%, respectively. In contrast, Benelux (-1.9%), Switzerland (-4.0%), Northern Europe (-6.0%), Austria (-8.4%), Eastern Europe (-9.4%) and Germany (-10.5%) recorded declines. Also in decline was the Far East/Pacific region (-3.8%). In contrast, growth was achieved in the regions Middle East/Africa (+17.1%) and America (+1.5%).
Net sales by markets/regions
2023
Decline in all product areas
In the product areas, currency-adjusted net sales decreased by 2.2% in Piping Systems, by 5.7% in Bathroom Systems and by 6.2% in Installation and Flushing Systems. The less negative development in Piping Systems was due to the continued great success of the launch of the new piping system Geberit FlowFit.