WASHINGTON (dpa-AFX) - Geberit Group (GBERY.PK, GBERF.PK) reported that its fourth-quarter net sales were 724 million Swiss francs, represented an increase of 3.2% in Swiss francs and a currency-adjusted increase of 6.8%.
Net sales decreased 3.1% to CHF 2.986 billion in Swiss francs in 2020, growth of 1.3% was achieved after currency adjustments.
Looking ahead for 2020, the company expects an operating cash flow margin or EBITDA margin of around 31%, as a result of the positive sales development, lower marketing and travel expenses due to COVID-19 and lower raw material prices.
The company noted that it will release complete financial statements and annual report for 2020 on 10 March 2021.
Meanwhile, Geberit said that its chief financial officer and member of the group Executive Board Roland Iff will retire at the end of 2021 following 17 years as chief financial officer at the company. The search for his successor has already been initiated.
Copyright RTT News/dpa-AFX