Net sales

Record sales growth

In 2021, consolidated net sales rose by 15.9% to CHF 3,460 million – the strongest sales growth since going public in 1999. This development comprised an increase in local currencies of 14.7% and a positive foreign currency effect of 1.2%. The exceptional sales growth was due to the positive base effect and the home improvement trend as a result of COVID-19, the build-up of inventories in the construction industry and market share gains. Despite the considerable challenges arising along the supply chains, the Group was able to safeguard product availability. When compared with 2019 – and thus with net sales before the COVID-19 pandemic – exceptionally strong growth after currency adjustments of 16.4% was also seen across all regions.

The currency exchange gains contained in net sales amounted to CHF 35 million. In 2021, 64% of net sales were generated in euros, 9% in Swiss francs, 4% in US dollars, 3% in British pounds and 20% in other currencies.

The following changes in net sales in the markets and product areas are currency-adjusted.

Net sales development 
2012–2021

(in CHF million)

Strong currency-adjusted growth in net sales in all markets

A very strong currency-adjusted growth in net sales of 14.3% was recorded in the European markets in the financial year 2021. Net sales saw a disproportionate increase in the Central European markets, where Geberit holds the largest market shares. Within these core markets, currency-adjusted net sales rose most strongly in Italy (+25.4%), driven by base effects as a result of the previous year’s lockdown. After the very strong results in the previous year, Austria and Germany again posted growth rates of 19.9% and 11.9%, respectively. At 14.0%, the Benelux Countries also recorded double-digit growth, while currency-adjusted net sales climbed by 7.5% in Switzerland. Outside these Central European markets, Eastern Europe recorded the strongest growth of 25.4% due, among other things, to several currency-related price increases in the reporting year. The Iberian Peninsula (+25.1%), France (+14.9%) and the United Kingdom/Ireland (+13.0%) reported double-digit growth rates thanks to positive base effects resulting from the lockdown in the previous year, among other aspects. The Nordic Countries recorded an increase of +7.9%. Outside Europe, the Far East/Pacific (+28.8%) and Middle East/Africa (+25.7%) also saw very strong growth. Growth in America was 5.1%.

Net sales by markets/regions
2021

Strongest growth in Installation and Flushing Systems

All three product areas generated very pleasing growth. Net sales in local currencies increased by 18.0% in Installation and Flushing Systems, 15.3% in Piping Systems and 10.4% in Bathroom Systems. The different performance was due on the one hand to a greater build-up of inventories at wholesalers for Installation and Flushing Systems as well as for Piping Systems. On the other hand, there were first signs of a slowdown in the home improvement trend in the second half of 2021, which primarily affected the Bathroom Systems product area.

Net sales by product areas
2021