Geberit (GEBN) investor relations material

Executive summary

• 9M net sales rose 3.6% to CHF 2,535m, or 5.7% in local currencies, driven mainly by volume/mix growth of ~3.5% and positive pricing of ~2%.

• 9M EBITDA increased 3.3% to CHF 778m; EBITDA margin was 30.7% versus 30.8% a year earlier, and EPS rose 8.1% to CHF 16.23.

• FY26 guidance remains 5%-6% local-currency sales growth and an EBITDA margin around the prior-year level.

Financial highlights

• Q3 net sales were CHF 824m, up 5.3% in CHF and 5.2% in local currencies; Q3 EPS was CHF 5.13, up 8.5% in CHF and 7% in local currencies.

• 9M EBIT rose 3.9% to CHF 658m and net income increased 7.1% to CHF 529m; EPS was CHF 16.23, up 9.6% in local currencies.

• 9M free cash flow declined 2.8% to CHF 449m, primarily due to higher investment volume and paid CapEx.

• Currency effects reduced 9M sales by CHF 52m, or 2.1%; Q3 was the first quarter since Q3 2021 without a negative currency effect on net sales.

Outlook and guidance

• FY26 guidance remains 5%-6% local-currency sales growth and an EBITDA margin around the prior-year level, assuming no material market changes.

• Q4 sales are expected to be weaker than Q3 amid tougher comparisons; October sales development was weaker than Q3.

• FY26 CapEx is expected at ~CHF 200m; full-year pricing effect is expected at 2%-2.5%, toward the upper end, with Q4 pricing effect expected to accelerate to ~3.5%.

• FY26 tax guidance remains 18%-19%; Q4 direct material prices are expected slightly above Q3 and significantly above Q4 2025.