WASHINGTON (dpa-AFX) - Sanitary technology solutions provider Geberit Group (GBERF.PK) reported Tuesday that its first-quarter net income climbed 26.7 percent to 233 million Swiss francs from last year's 184 million francs.
Earnings per share increased 28 percent to 6.53 francs from 5.10 francs last year.
Operating cashflow or EBITDA increased 21.1 percent to 315 million francs from prior year's 260 million francs. This corresponded to an EBITDA margin of 34.6 percent, up from previous year's 32.6 percent.
The significant increase in margins of 200 basis points was largely due to volume growth, lower costs due to COVID-19, such as travel expenses, and price increases.
Net sales increased 14 percent to 910 million francs from 798 million francs a year ago. Adjusted for currency effects, the increase was 13 percent.
Looking ahead, the company said the forecasts for the current year have not changed since the announcement of the full-year results 2020 last March.
The company said, 'A continued, significant increase in raw material prices is expected in the second quarter, which will have a considerable negative impact on the margin due to the low comparison with the previous year. It is very difficult to provide an outlook at present due to the ongoing uncertainties in relation to the COVID-19 pandemic and its impact, as well as a lack of visibility.'
The company said it remains convinced to emerge stronger from the global economic crisis caused by the COVID-19 pandemic.
Copyright RTT News/dpa-AFX
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