Geberit reports sales growth in 2024

The Geberit Group posted net sales of CHF 3,085 million in 2024, a currency-adjusted increase of 2.5%.

Despite a sharp decline in the building construction industry in Europe, the Geberit Group – one of the world’s largest producers of sanitaryware and bathroom solutions – reported a currency-adjusted increase in net sales of 2.5% in 2024. At CHF 3,085 million, net sales in Swiss francs remained practically constant compared to the previous year due to unfavourable currency developments. EBITDA margin is expected to be slightly below the 2023 level, mainly due to significant investments in marketing, digitalisation and IT projects.

Growth was driven entirely by higher volumes. In addition to a rebuilding of inventories by wholesalers in the first half of the year, Geberit further strengthened its market position, supported by the strong development of various new products.

Although European markets continued to suffer the most from the highly challenging conditions facing the sanitaryware industry, currency-adjusted net sales in Europe increased by +1.9% in 2024. Above-average increases were achieved in Eastern Europe (+7.1%), Italy (+6.2%), Benelux (+3.8%) and Germany (+3.2%). Austria (+0.3%) also made slight gains, while net sales in Switzerland were in line with the level seen in the previous year (-0.1%). In contrast, declines were recorded in Western Europe (-2.6%) and Northern Europe (-4.2%). Outside Europe, positive currency-adjusted increases were achieved in the Middle East/Africa (+17.1%), America (+3.0%) and the Far East/Pacific (+0.2%), where the decline in China was offset by strong growth in India.

Regarding the group’s three Business Units, currency-adjusted net sales increased by 4.8% in Installation and Flushing Systems, 1.3% in Piping Systems and 1.1% in Bathroom Systems.

Following the strong declines in the building construction industry experienced since mid-2022, demand is expected to stabilise as a whole during the course of 2025. In Europe, the number of building permits in the first nine months of 2024 was only slightly lower than in 2023 (-1%). However, in Germany, the Nordic countries and Austria – traditionally key markets for Geberit – permits fell by a total of 12%, suggesting a continued slight decline in the new construction segment. In contrast, the renovation segment, which accounts for around 60% of Geberit’s business, is expected to see stable to slightly positive development. Outside Europe, a mixed market environment is expected in 2025. While demand in India and the Gulf region is expected to remain high, further declines are anticipated in China.