Geberit reported a 1.9% increase in organic sales during its fourth quarter, the...
FILE PHOTO: The logo of shower toilet and plumbing supplies maker Geberit is seen at its headquarters in Rapperswil-Jona, Switzerland October 30, 2018. REUTERS/Arnd Wiegmann
The Swiss company, which makes piping and ceramic products for bathrooms, reported fourth-quarter sales of 702 million Swiss francs , undershooting Refinitiv estimates of 713 million francs. For 2019 as whole Geberit’s sales rose 0.1% to 3.08 billion francs, slightly short of forecasts for 3.09 billion francs. When adjusted for currency movements, its sales increased 3.4%, within its target range of 3-4%.
Germany, the company’s biggest market, continued to be difficult with no sales growth during the fourth quarter as its economy slowed. Geberit, whose products are used in refurbishment and new-build projects, has also been struggling with a shortage of fitters in the country.
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