Annual Report 2023

Annual Report 2023


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

(in CHF million)

2022 2023 2021 2020 2019 2018 2017 2016 2015 2014 500 0 1,000 1,500 2,000 2,500 3,000 3,500

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

8% Italy 8% Benelux 8% Eastern Europe 6% Austria 4% Middle East/Africa 4% Far East/Pacific 3% America 29% Germany 11% Switzerland 10% Western Europe 9% Northern Europe

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.

Net sales by product areas

30% Bathroom Systems 33% Piping Systems 37% Installation and Flushing Systems