BRUSSELS (dpa-AFX) - Geberit Group (GBERY.PK, GBERF.PK) reported that its second-quarter net income dropped to 131.0 million Swiss francs from last year's 173.2 million francs, impacted by the COVID-19 pandemic and negative currency developments. On a per share basis, net income was 3.64 Swiss compared to 4.80 Swiss in the prior year.
Quarterly sales declined to 670.5 million francs from 797.0 million francs in the previous year.
The company said it remains very difficult to provide an outlook at present, as a result of the ongoing uncertainties in relation to the COVID-19 pandemic.
The company expects the construction industry to continue to return to normal during the second half of the year. However, delayed or stopped projects and the temporary closure of the showrooms in the second quarter may have a negative impact on demand in the second half of 2020.
The company expects currency-adjusted net sales in the second half of the year slightly below the level of the second half of 2019, and, for the full year 2020, an operating cash flow margin slightly below the previous year's level.
Copyright RTT News/dpa-AFX
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