WASHINGTON (dpa-AFX) - Geberit Group (GBERY.PK, GBERF.PK) reported that its net income for the the first nine months of 2020 dropped by 6.0% to 504 million Swiss francs, from last year. Earnings per share fell by 5.5% to 14.06 francs. Results were declining due to negative currency effects.
Operating profit or EBIT fell by 2.1% to 613 million francs from the previous year.
Operating cash flow or EBITDA fell by 0.9% to 726 million francs from the prior year.
Net sales for the period decreased by 5.0% to 2.26 billion francs from last year. It includes negative currency effects totalling 110 million francs. In local currencies, net sales declined slightly by 0.4%.
The company said it remains very difficult to provide an outlook, as a result of the ongoing uncertainties in relation to the COVID-19 pandemic and the lack of visibility.
The company expects a weaker fourth quarter and thus, for the full year 2020, currency-adjusted net sales slightly below previous year and an operating cashflow margin above previous year.
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