ሽያጩን አመጣ 2023

On March 13, Geberit released its 2023 annual report, which showed that annual sales decreased by 9.1% ወደ 3.084 billion Swiss francs (በግምት RMB 25.218 ቢሊዮን), of which sanitary products accounted for 30%; during the same period, EBITDA increased by 1.4%, reaching 921 ሚሊዮን የስዊስ ፍራንክ (በግምት RMB 7.531 ቢሊዮን), እና የተጣራ ትርፍ ነበር 617 ሚሊዮን የስዊስ ፍራንክ (በግምት RMB 5.045 ቢሊዮን), a year-on-year decrease of 12.6%.
Geberit said that 2023 will be an extremely difficult year, and predicted that the prospects for 2024 will be mixed, predicting that market demand in China and Australia will decline.

Annual sales were approximately 25.2 ቢሊዮን ዩዋን, with the three major categories accounting for 30%.

According to the annual report released by Geberit, Geberit’s total sales in 2023 were 3.084 billion Swiss francs (በግምት RMB 25.218 ቢሊዮን), a year-on-year decrease of 9.1%, mainly due to the negative currency effect of the Swiss franc, because the Swiss franc Much stronger than most other currencies

In local currency terms, this was a decrease of 4.8%. Geberit revealed that 63% of the group’s annual sales were settled in euros, 10% in Swiss francs, 7% in Nordic currencies (including Swedish krona, Danish krone, and Norwegian krone), 5% in U.S. ዶላር, እና 4% in British pounds. 11% is in other currencies.

Although last year’s average price increase of 8% for Geberit goods had a positive impact on sales, sales fell significantly due to the downturn in the European construction industry. በተጨማሪ, the shift in residential demand from sanitation to heating in some countries such as Germany has also negatively impacted the business.

By market, the European market is most affected by the downturn in the construction industry. Overall currency-adjusted net sales in Europe declined 6.0%. Italy and Western Europe (UK/Ireland, ፈረንሳይ, Iberian Peninsula) experienced slight growth, with increases of 1.9% እና 0.4% በቅደም ተከተል.

In comparison, the Benelux region (-1.9%), Switzerland (-4.0%), Northern Europe (-6.0%), Austria (-8.4%), Eastern Europe (-9.4%) and Germany (-10.5%) There was a decline, with the Far East/Pacific region also falling by 3.8%. In comparison, the Middle East/Africa and Americas regions grew by 17.1% እና 1.5% በቅደም ተከተል.

By product, sales of Geberit plumbing systems decreased by 2.2% ውስጥ 2023, bathroom systems decreased by 5.7%, and installation and flushing systems decreased by 6.2%. The smaller decline in plumbing systems was due to the success of the new product Geberit FlowFit. The three major categories of products account for 30% or more of total sales.

Operating profit margin increased significantly, but net profit declined

In terms of profits, Geberit’s EBITDA (earnings before interest, taxes, depreciation and amortization) ጨምሯል። 1.4% ውስጥ 2023, reaching 921 ሚሊዮን የስዊስ ፍራንክ (በግምት RMB 7.531 ቢሊዮን), which is equivalent to an increase of 7.8% after adjusting for exchange rates; and Compared with the same period in 2022, EBITDA profit margin increased significantly by 310 basis points to 29.9%.

Operating profit (EBIT) ጨምሯል። 1.8% ወደ 769 ሚሊዮን የስዊስ ፍራንክ (በግምት RMB 6.288 ቢሊዮን), with a currency-adjusted growth rate of 8.8%, and an operating profit margin of 24.9%, higher than 22.3% ውስጥ 2022. Although the above data performed well, Geberit’s full-year net profit was 617 ሚሊዮን የስዊስ ፍራንክ (በግምት RMB 5.045 ቢሊዮን), a year-on-year decrease of 12.6%.

In the financial report, Geberit mentioned that all projects last year were positively affected by currency effects. በተለይም, raw material costs have continued to decline since the first quarter of 2023, with average prices decreasing by 2.6% ወይም 25 ሚሊዮን የስዊስ ፍራንክ. This has resulted in raw material costs accounting for 25 million Swiss francs in sales. The proportion dropped to 28.8% ከ 31.7% last year.

In addition to lower raw material prices, Geberit’s labor expenses also decreased by 3.4% ውስጥ 2023 to CHF 750 ሚሊዮን, ጋር እኩል ነው። 24.3% of net sales, compared with 22.9% ውስጥ 2022, mainly due to the reduction in the number of employees.
As of December 31, 2023, ወለደ 26 በዓለም ዙሪያ የምርት መሠረቶች, 4 of which were located outside Switzerland. The total number of employees worldwide was 10,947, መቀነስ 567 people or 4.9% from the end of 2022, due to production and logistics-related businesses. Volume has declined, thus reducing the number of relevant employees.

2023 will be extremely difficult, 2024 will be a mixed bag

Geberit said in a press release accompanying the annual report that the company had experienced “an extremely difficult year” ውስጥ 2023. The lower performance growth was due to the decline in the European construction industry and the previous year’s decline. year-on-year growth. ቢሆንም, the tension in global and regional supply chains has eased during this reporting year, the supply cost of raw materials and parts has dropped, delivery time has also been significantly shortened compared with 2022, and operating profit margin has increased significantly compared with the past.

For 2024 as a whole, Geberit’s judgment is roughly the same as the company’s statement in its financial express in January this year: due to challenging macroeconomic conditions and continued geopolitical risks, the construction industry is expected to decline overall this year. በተቃራኒው, it is expected that the market demand for refurbished vehicles will continue to be strong, with sales from the refurbished market accounting for approximately 60% of Geberit’s total sales. Although Geberit’s overall forecast for 2024 is negative, it is expected that interest rates will be structurally lowered during the year and improved health standards will also stimulate the market. Outside of Europe, the outlook for the year is expected to be mixed, with strong demand in India, the Gulf and Egypt and declines in China and Australia.