Earnings release
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MEDIA RELEASE Ad hoc announcement pursuant to Art. 53 LR First information on 2025 Sales growth significantly above market development Geberit AG, Rapperswil-Jona, 15 January 2026 The Geberit Group achieved strong sales growth in 2025 despite the continuing challenging environment. The currency-adjusted increase in net sales was 4.8% and thus significantly above market development. In Swiss francs, net sales increased by 2.5% to CHF 3,163 million. In terms of EBITDA margin, Management expects a value slightly below 29.5% for full-year 2025. The financial statements and annual report for 2025 will be released on 12 March 2026. Net sales in 2025 In 2025, net sales for the Geberit Group increased by 2.5% to CHF 3,163 million. Adjusted for negative currency effects of CHF 72 million, the increase came to 4.8%. This was driven by strong volume growth as a result of the continuing very pleasing development of newly introduced products and growth in most European countries/regions. Net sales in the fourth quarter of 2025 Net sales in the fourth quarter reached CHF 715 million, which is equivalent to an increase in Swiss francs of 4.4% compared to the same quarter in the previous year. Adjusted for currency effects, this resulted in an increase of 6.4%, following +5.4% in the third quarter, +2.5% in the second quarter and +5.3% in the first quarter. Net sales by markets and product areas Despite continued challenging conditions for the sanitary industry, currency-adjusted net sales in Europe increased by +4.1%. Significant increases were achieved in Austria (+8.5%), Benelux (+7.3%) and Germany (+5.6%). There was also growth in Eastern Europe (+4.3%), Northern Europe (+3.5%), Italy (+1.6%), Switzerland (+1.0%) and Western Europe (+0.1%). Outside Europe, significant growth was achieved in the Middle East/Africa region (+24.8%), and there was also growth in America (+3.9%). In contrast, sales in the Far East/Pacific region (-0.6%) were slightly down on the previous year due to the continuing decline in the Chinese market and despite significant growth in India. In the product areas, currency-adjusted net sales increased by +6.1% in Bathroom Systems, +5.5% in Installation and Flushing Systems and +3.0% in Piping Systems. Expectations for the operating margin for full-year 2025 In a continuing challenging market environment and against the backdrop of negative currency developments, operating margins are expected to be slightly below the previous year’s level, including the one-off costs for the closure of a German ceramics plant which was announced in January 2025. The pleasing volume growth and the slightly lower direct material costs compared to the previous year had a positive effect on the margins, while wage inflation, higher energy prices, growth initiatives in selected developing markets and various digitalisation and IT projects had a reducing impact. Accordingly, Management expects an operating cashflow (EBITDA) margin slightly below 29.5% for full-year 2025.
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MEDIA RELEASE 2 The complete financial statements and annual report for 2025 will be released at the analyst and media conference in Zurich on 12 March 2026. Please visit our website www.geberit.com for additional information. Market outlook 2026 After the sharp declines since mid-2022, demand in the building construction industry stabilised overall in 2025, with different developments in the new construction and renovation business depending on the country/market. In Europe, slight market growth is expected in 2026 overall – but no market recovery yet. This assessment is based on a stabilisation in the number of building permits in 2025 with a corresponding stable outlook for the new construction business in the current year. A slightly positive development is again expected in the renovation business, which accounts for around 60% of Geberit’s sales; several indicators relevant to this area suggest this, including the increase in real estate transactions. Outside Europe, the outlook for the building construction industry is mixed. Strong demand is forecast in several markets, such as India and the Gulf region. However, a continued decline in market demand is expected in China due to the collapse in new construction activities. On the cost side, slightly higher direct material prices are expected in the first quarter of 2026 compared to the fourth quarter of 2025. Given the slight improvement in the market environment, the goal for 2026 is again to further expand Geberit’s market position through targeted strategic initiatives, including: • the new products of the year 2026 as well as the focus on products that have been successfully launched in previous years – such as the Geberit FlowFit and Mapress Therm piping systems, Alba shower toilet and Duofix installation element, • investments in IT, digitalisation and artificial intelligence, • new marketing activities aimed at end customers, architects and designers, and • the expansion and renewal of logistics capacities. For further information, please contact: Geberit AG Schachenstrasse 77, CH-8645 Jona Christian Buhl, CEO Tel. +41 (0)55 221 63 46 Tobias Knechtle, CFO Tel. +41 (0)55 221 66 39 Roman Sidler, Corporate Communications & IR Tel. +41 (0)55 221 69 47
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MEDIA RELEASE 3 About Geberit The globally operating Geberit Group is a European leader in the field of sanitary products and celebrated its 150th anniversary in 2024. Geberit operates with a strong local presence in most European countries, providing unique added value when it comes t o sanitary technology and bathroom ceramics. The production network encompasses 26 production facilities, of which 4 are located overseas. The Group is headquartered in Rapperswil - Jona, Switzerland. With around 11,000 employees in approximately 50 countrie s, Geberit generated net sales of CHF 3.2 billion in 2025. The Geberit shares are listed on the SIX Swiss Exchange and have been included in the SMI (Swiss Market Index) since 2012.