21. Capital stock and treasury shares

As at 31 December 2023, the share capital of Geberit AG consists of 35,189,082 ordinary shares with a par value of CHF 0.10 each.

On 16 June 2022, Geberit AG terminated its share buyback programme, which was started on 17 September 2020. By 16 June 2022, 826,251 registered shares in the amount of MCHF 500.0 – corresponding to 2.3% of the share capital entered in the Commercial Regis­ter – had been repurchased under this pro­gramme. The share buyback was conducted via a separate trading line on the SIX Swiss Ex­change for the purpose of a capital reduction. 141,000 of the repurchased shares were already cancelled in 2021. The General Meeting of 19 April 2023 approved a capital reduction match­ing the remaining number of shares repurchased under this programme. Consequently, 685,251 shares were cancelled at the end of April 2023.

On 20 June 2022, a new share buyback pro­gramme was launched. Shares amounting to a maximum of MCHF 650.0 will be repurchased over a maximum period of two years. Based on the closing price of Geberit registered shares on 31 December 2023, this corresponds to around 1,350,000 registered shares or 3.8% of the share capital currently entered in the Commer­cial Register. The shares will be repurchased via a separate trading line on the SIX Swiss Ex­change for the purpose of a capital reduction. As at 31 December 2023, 1,120,750 shares had been re­purchased for a total value of MCHF 524.5 un­der this programme.

The entire stock of treasury shares on 31 December 2023 amounted to 1,889,965 (PY: 1,945,202) with a carrying amount of MCHF 955.6 (PY: MCHF 1,075.7). Treasury shares are deducted from equity at historical cost.

For transactions in connection with the participation plans, see Note 17.