Geberit (GEBN) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 5.3% to CHF 824m in Swiss francs and 5.2% in local currencies; growth continued for a tenth consecutive quarter on a currency-adjusted basis.

• 9M net sales increased 3.6% to CHF 2,535m, or 5.7% in local currencies, driven mainly by volume/mix with positive pricing; all product areas grew.

Financial highlights

• Q3 net sales were CHF 824m, EBITDA CHF 249m, EBIT CHF 208m and net income CHF 166m; reported YoY growth was 5.3%, 3.8%, 3.9% and 6.4%, respectively.

• 9M EBITDA was CHF 778m (+3.3%), EBIT CHF 658m (+3.9%) and net income CHF 529m (+7.1%) in Swiss francs.

• 9M EPS was CHF 16.23, up 8.1% in Swiss francs and 9.6% in local currencies; accelerated buybacks supported EPS growth.

• Q3 EPS was CHF 5.13, up 8.5% in Swiss francs; net income margin was 20.1%, versus 19.9% a year earlier.

• 9M free cash flow declined 2.8% to CHF 449m, primarily due to higher investment; Q3 free cash flow rose 8.0% to CHF 232m, helped by tax-payment timing.

Outlook and guidance

• FY26 guidance remains 5%-6% net sales growth in local currencies and an EBITDA margin at approximately 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 price effects are expected at 2%-2.5%, toward the upper end.

• Q4 direct material prices are expected above Q3 and significantly above Q4 2025; pricing contribution is expected to strengthen, with no extraordinary price increase planned.

• 2026 investment priorities include products, marketing, IT, digitalisation, AI and logistics capacity; operational expenditure is increasing by CHF 20m.