WASHINGTON (dpa-AFX) - Sanitary technology solutions provider Geberit Group (GBERF.PK) reported Thursday that its first-quarter net income dropped 4.4 percent to 184 million Swiss francs from last year's 192 million francs.
Earnings per share fell 4.3 percent to 5.10 francs from 5.33 francs last year.
Operating profit or EBIT declined 1.6 percent from last year to 224 million francs, while EBIT margin grew to 28 percent from previous year's 27.4 percent. EBITDA margin increased 100 basis points to 32.6 percent.
Net sales for the Geberit Group decreased 3.9 percent to 798 million francs from 830 million francs a year ago. In local currencies, sales grew 1.5 percent. Currency-adjusted net sales rose 2.7 percent in Europe and 0.8 percent in America.
In contrast, sales fell 15.3 percent in the Middle East/Africa region and 21.6 percent in the Far East/Pacific region.
The company noted that the COVID-19 pandemic started to have a negative effect in practically all markets from the second half of March.
Due to the volatile and uncertain situation, an outlook for the construction industry is not possible at the moment.
Copyright RTT News/dpa-AFX