FRANKFURT (dpa-AFX) - Geberit AG (GBERY.PK, GBERF.PK), a Swiss maker of sanitary parts and related systems, on Wednesday reported a decline in earnings for fiscal 2022, amidst a fall in revenue.
The company said, 'A very challenging business year 2022 is behind the Geberit Group. The effects of the Covid-19-induced home improvement trend and the outbreak of war in Ukraine, as well as the sharp increase in inflation worldwide, led to strongly fluctuating volumes during the course of the year.'
For the 12-month period to December 31, 2022, the firm recorded a net income of CHF 706.3 million or CHF 20.41 per share, lesser than CHF 755.7 million or CHF 21.16 per share of 2021.
Pre-tax profit was at CHF 740.9 million as against last year's CHF 888.3 million.
Operating profit or EBIT moved down to CHF 755 million from previous year's CHF 901.6 million.
EBITDA stood at CHF 908.6 million versus CHF 1.069 billion of 2021.
Net sales fell to CHF 3.391 billion from CHF 3.460 billion a year ago.
The Group said that it will propose for an increase in the dividend by 0.8 percent to CHF 12.60 in its ordinary General Meeting on April 19.
Looking ahead, the company said it continues to expect to achieve its medium-term targets of average annual net sales growth of 4% - 6% with an average EBITDA margin of 28% - 30%.
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