Annual Report 2023

Annual Report 2023


Business model and value chain

With its innovative solutions for sanitary products, Geberit aims to achieve sustained improvement in people’s standard of living. The economy benefits from Geberit’s leading role in the change towards a sustainable sanitary industry. Geberit contributes to this change in the industry through better sanitary and hygiene standards, a durable, resource-efficient sanitary infrastructure, through know-how transfer in the sanitary industry, via impetus for the economy in regional economic areas, and through strong and long-term relationships with suppliers.

“Go-to-market” model (business model)

Geberit offers customers high-quality, durable sanitary products and solutions for applications in buildings. The products are used in both renovation projects and new buildings. The product area Installation and Flushing Systems comprises all sanitary installation technology plus a broad range of flushing systems for toilets including cisterns and fittings. The product area Piping Systems includes building drainage and supply systems and comprises all piping technology found in buildings for drinking water, heating, gas and other media. The Bathroom Systems product area comprises all relevant furnishings in a bathroom such as bathroom ceramics, furniture, showers, bathtubs, taps and controls and shower toilets. For further information on the product range, see > Products > Product portfolio.

In terms of market cultivation, Geberit relies on a three-stage distribution channel, see also Business Report > Business and financial review > Financial Year 2023 > Customers. The vast majority of products are distributed via the wholesale trade. Dealerships then sell them to plumbers and present them at exhibitions and other events where end customers can gain information. At the same time, Geberit provides plumbers and sanitary engineers with intensive support through training and advice.

In 2023, net sales amounted to a total of CHF 3,084 million (previous year CHF 3,392 million). For net sales by markets/regions as well as by product areas, see Business Report > Business and financial review > Financial Year 2023 > Net sales. Significant indicators for the creation and distribution of value can be found in the financial reporting.

Value chain

Geberit forms part of the value chain in the construction industry. It has significant impacts for the employees, on the customer side at sanitary engineers, plumbers and end users, as well as at suppliers and transport companies. Continuous investment in the production plants in Europe, China, India and the USA, as well as the logistics centre in Germany for installation and flushing systems and piping systems as well as the decentralised network of 13 European distribution sites for ceramic appliances and bathroom furniture will strengthen these individual economic areas. Geberit know-how and Geberit products and system solutions significantly reduce the burden on water and drainage systems, thus reducing the associated costs and consumption of resources.

Geberit is committed to sustainable sanitary systems which, as elements in construction, help to shape the infrastructure as a whole. Geberit lends impetus to the sanitary industry with new products that are sold and installed worldwide by wholesalers, plumbers and sanitary engineers. In the reporting year, some 60,000 professionals were provided with education and further training on Geberit products, tools, software tools and installation skills at 30 Geberit Information Centres in Europe and overseas. In this way, Geberit supports innovation, growth and value added in the sanitary industry.

Furthermore, Geberit is an important employer for the communities around its sites. Added to this is Geberit’s contribution as a training company for apprentices. At the end of 2023, Geberit employed 274 apprentices, thus supporting training in different countries, see also GRI 404.

The economic impact on suppliers and transport companies is also significant. In 2023, Geberit procured goods amounting to CHF 883 million (previous year CHF 1,136 million) and had business relations with a total of 1,603 direct suppliers. Geberit does not have its own transport fleet and therefore generates orders for external transport companies.

For further information on management of the value chain, see Procurement as well as the chapters ProcurementProduction and Logistics in the business and financial review.

Value creation – an overview

The value creation graphicvalue creation graphic summarises how Geberit creates value for employees, society, customers, the environment as well as shareholders. The long-term corporate strategy is based on four pillars: Focus on sanitary products, Commitment to innovation and sustainability, Selective geographic expansion and Continuous optimisation of business processes. Values such as integrity, team spirit, enthusiasm, modesty and an ability to embrace change are core factors. This strategy is implemented on the basis of seven growth and earnings drivers. These are as follows: “go-to-market” model, technology penetration, value strategy, innovation leadership, sustainability leadership in the sanitary industry, selective technology penetration, and continuous process and cost optimisation. The sustainability strategy supplements the corporate strategy with twelve modules. These modules strengthen the “go-to-market” model (business model) and generate added value for various stakeholders in the areas People (employees and society), Planet (environment) and Profit (value chain including compliance and governance) in a targeted manner. The results of these activities show the diverse added value in the three dimensions of sustainability. At the same time, the results contribute to the UN Sustainable Development Goals (SDGs) set out in the 2030 Agenda for Sustainable Development, see SDG Reporting.

Materiality analysis
Sustainability strategy
We continuously improve the quality of people’s lives with innovative sanitary products.
14.5 hours
training and education per employee
CHF 9.2 million
on workshops for disabled persons
394 GWh
combustibles consumption (-13.1%)
199 GWh
electricity consumption (-9.1%), 128 GWh green electricity, 78.9% renewable energy
850,178 m3
water consumption (-6.4%)
CHF 197 million
Investments in property, plant and equipment and intangible assets
CHF 70 million
R&D expenditures
Equity ratio
Number of new patents
Values and Strategy
  • Integrity
  • Team spirit
  • Enthusiasm
  • Modesty
  • Ability to renew ourselves

Geberit Compass as PDF
Read more about our values

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Focus on sanitary products
Geberit concentrates on sanitary and piping systems for transporting water in buildings, as well as bathroom ceramics and furniture. In these areas, Geberit has comprehensive know-how and supplies high-quality, integrated and water-saving sanitary technology as well as attractive design.
Commitment to innovation and sustainability
Continuously optimising and extending the product range is crucial for future success. Innovative strength is founded on research in areas such as hydraulics, statics, fire protection, hygiene and acoustics, as well as process and materials technology. The insights gained are systematically applied in the development of products and systems for the benefit of customers. Here, the aspects of design are constantly growing in importance.
Selective geographic expansion
An important factor in long-term success is stronger growth in the markets in which Geberit products or technology are still under-represented. Outside Europe, Geberit concentrates on the most promising markets. These include North America, China, Southeast Asia, Australia, the Gulf Region, South Africa and India. With the exception of North America and Australia, the company mainly engages in project business in these markets. The company always adheres strictly to the existing high standards in terms of quality and profitability.
Continuous optimisation of business processes
Efficient processes will help to establish a leading and competitive cost structure on a long-term basis. Process optimisation will be partly achieved through Group-wide projects and partly through employees identifying improvement potential in their day-to-day work, thus making a major contribution toward positive development.
Growth and earnings drivers
  • “Push-Pull” “Go-to-market” model
  • Technology penetration
  • Value strategy
  • Innovation leadership
  • Sustainability leadership
  • Selective technology penetration
  • Continuous process and cost optimisation

Medium-term goals

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managerial positions filled with internal candidates
transfer rate of apprentices
AFR 7.3
accidents per million working hours performed
production plants ISO 45001 certified
Improvement of eco-efficiency since 2015
121,014 t
CO2 emissions (-19.6%)
production plants ISO 14001 certified
million m3
water saved due to Geberit products
Currency-adjusted net sales decline
Operating cashflow margin
CHF 625 million
Free Cashflow
CHF 18.39
Earnings per share
Creating value for






Materiality analysis
Sustainability strategy