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MEDIA RELEASE Ad hoc announcement pursuant to Art . 53 LR Quarterly report as of 30 September 2021 Very strong results after nine months IGEBERIT Geberit AG , Rapperswil - Jona , 3 November 2021 The Geberit Group posted very strong results in the first nine months of 2021. Overall , net sales increased by 18.8 % to CHF 2688 million . Adjusted for currency effects , the increase was 17.0 % . Operating cashflow increased by 23.1 % to CHF 894 million , which corresponds to a significant increase in the operating cashflow margin of 120 basis points . Net income increased by 29.6 % to CHF 653 million , with a return on net sales of 24.3 % . For 2021 as a whole , Management expects growth in net sales in local currencies of between 12 and 14 % and an EBITDA margin of 30 to 31 % . Consolidated net sales In the first three quarters of 2021 , net sales for the Geberit Group increased by 18.8 % to CHF 2688 million . This increase includes positive currency effects of CHF 42 million . In local currencies , this resulted in an increase of 17.0 % . The exceptional sales growth was primarily down to the positive base effect due to the decline in sales as a result of COVID - 19 in the previous year , the ongoing home improvement trend and an inventory build - up in the construction industry in the first half of the year . When compared with the first three quarters of 2019 - and thus with net sales before the COVID - 19 pandemic - an exceptionally strong growth of 16.8 % after currency adjustments was also seen across all regions . This growth was achieved despite significant challenges on the raw material markets , and was due mainly to the outstanding performance and flexibility in procurement , at the production plants and in logistics . Net sales in the third quarter reached CHF 855 million , which is equivalent to an increase of 7.6 % compared to the same quarter in the previous year . After currency adjustments , an increase of 6.6 % was achieved . The weaker growth compared to the first half of the year was due to the base effects in the previous year , a normalisation in stock levels at wholesalers and first signs of a slowdown in the home improvement trend . Nonetheless , there was still a pleasing growth of 17.4 % after currency adjustments compared to the third quarter of 2019 . Net sales by market and product area The very strong performance in the European markets continued after nine months of the year , with growth in net sales of 16.4 % after currency adjustments . Italy ( + 31.6 % ) , United Kingdom / Ireland ( + 27.6 % ) , the Iberian Peninsula ( + 25.4 % ) and France ( + 19.1 % ) - which were particularly affected by the COVID - 19 pandemic in the first half of 2020 saw above - average growth . However , all other markets and regions also saw growth with substantial double - digit growth posted in the majority of cases : Austria posted increases of + 26.7 % , Eastern Europe + 26.6 % , the Benelux Countries + 17.6 % , Germany + 11.3 % , Switzerland + 9.2 % and the Nordic Countries + 8.8 % . The Far East / Pacific ( + 36.1 % ) and Middle East / Africa ( + 32.1 % ) regions also saw very strong growth . Growth in America was + 7.5 % .