Goodstartinto2017.PDF

MEDIA RELEASE Quarterly report as of 31 March 2017 Good start into 2017 Geberit AG, Rapperswil-Jona, 2 May 2017 A largely positive environment in the construction industry created the underlying conditions for a successful start into the 2017 financial year by the Geberit Group. Net sales increased by 2.6% to CHF 737.1 million in the first quarter of 2017. Adjusted for divestment-related and currency effects, the increase came to 6.7%. Adjusted operating profit increased by 3.8% to CHF 190.8 million, while adjusted net income rose by 2.2% to CHF 162.2 million. In the first quarter of 2017, net sales for the Geberit Group increased by 2.6% to CHF 737.1 million, including negative currency effects of CHF 16 million. The increase in local currencies and organic* terms was 6.7%. The net sales growth was attributable to a positive environment in many markets in the construction industry, further sales synergies and more working days compared to the prior-year quarter. In organic and currency-adjusted terms, Europe – the largest region – grew by 6.2% and America by 7.5%. The Middle East/Africa (+17.8%) and Far East/Pacific (+16.9%) posted double-digit growth. As in the previous years, the results of the Geberit Group were once again influenced by one-off costs in connection with the Sanitec acquisition. To improve comparability, adjusted figures are therefore provided and commented on. Adjusted operating cashflow (adj. EBITDA) increased by 4.6% to CHF 218.9 million, which corresponds to an adjusted EBITDA margin of 29.7%. Adjusted operating profit (adj. EBIT) rose by 3.8% to CHF 190.8 million, which corresponds to an adjusted EBIT margin of 25.9%. The increased year-on-year operating results were above all attributable to higher sales volumes as well as further synergy