Q1 2020 Results

Christian Buhl, CEO

Roland Iff, CFO

April 30, 2020

Key figures Q1 2020

Net sales growth (in CHF)

-3.9%

EPS growth (in CHF)

-4.3%

Net sales growth (currency adj.)

+1.5%

Share buyback (in CHF)

116 million

261'543 shares in Q1

EBITDA margin

32.6%

+100 bps vs PY

COVID-19 impact

  • Negative impact since 2ndhalf of March
  • Almost all countries affected by lower demand
  • Supply chain intact

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Q1 2020 RESULTS APRIL 30, 2020

Net sales Q1 2020 - Positive net sales growth in local currencies in Q1 2020

In CHF million

Total variance: CHF -33 million (-3.9%)

830

12

45

798

Net sales

Growth

Currency

Net sales

Q1 2019

in local currency

effect

Q1 2020

+1.5%

-5.4%

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Q1 2020 RESULTS

APRIL 30, 2020

Q1 2020 net sales

Net salesin million CHF

Variance to PY in CHF

Variance to PY in c.a.

Geberit Group

798

-3.9%

+1.5%

By regions

Europe

739

-2.8%

+2.7%

Far East / Pacific

17

-26.3%

-21.6%

America

25

-2.2%

+0.8%

Middle East / Africa

17

-21.3%

-15.3%

By product areas

Installation & Flushing Systems

314

-3.4%

+2.2%

Piping Systems

241

-3.1%

+2.3%

Bathroom Systems

243

-5.5%

-0.2%

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Q1 2020 RESULTS

APRIL 30, 2020

Key figures Q1 2020 - Strong profitability

CHF million

Q1 2020

Q1 2019

% YoY

Net sales

798

830

-3.9%

EBITDA

260

262

-0.7%

Margin

32.6%

31.6%

EBIT

224

227

-1.6%

Margin

28.0%

27.4%

Net income

184

192

-4.4%

Margin

23.0%

23.1%

EPS(CHF)

5.10

5.33

-4.3%

Free cashflow

-7.1

5.3

-234.0%

Margin

-0.9%

0.6%

  • Further improved profitability despite significant tariff increases due to
    • Lower raw material prices
    • Positiveone-time effects on raw material costs
    • Efficiency projects
    • Cost discipline
    • Sales price increases

SLIDE 5

Q1 2020 RESULTS APRIL 30, 2020

EBITDA margin Q1 2020 - Increase of margin by 100 bps

-0.5%

32.6%

+1.6%

-0.2%

31.6%+0.1%

EBITDA

Volume and

Price effects,

Other cost

Currency effect

EBITDA

margin Q1 2019

product mix effect

net

effects

margin Q1 2020

  • Positive net price effect due to lower raw material prices
  • Positiveone-time effects on raw material costs
  • Negative other cost effects mainly driven by tariff increases of personnel costs
  • Only minor negative currency effect due to effective natural hedge

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Q1 2020 RESULTS

APRIL 30, 2020

COVID-19 implications on Geberit - Status per April 30, 2020

  • Negative impact on demand in 2ndhalf of March and April in almost all countries
    Severe decline in countries with "shutdown" of construction sites (IT, UK, ES, FR, IN, ZA)

Demand

  • Substantial declinein other "open" countries due to COVID-19 driven restrictions on construction activities

  • Showrooms starting tore-open again in several countries

Supply Chain

Priorities

Outlook

  • Overall intact and running on normal level - all products available
  • Two smaller sites closed by governmental decrees per end of April: Gaeta (IT) and Pune (IN)
  • Continuity - Execution of strategic and operational initiatives as planned, e.g. R&D projects
  • No restructuring - Investment of margin during period of lower demand
  • Adaption of organization to current market realities and demand fluctuation
  • No outlook possible due to fast moving and unpredictable implications ofCOVID-19 crisis

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Q1 2020 RESULTS APRIL 30, 2020

Disclaimer

While Geberit is making great efforts to include accurate and up-to-date information, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this handout and disclaim any liability for the use of it.

The statements in this presentation relating to matters that are not historical facts are forward-looking statements that are not guarantees of future performance and involve risks and uncertainties, including but not limited to: future global economic conditions, foreign exchange rates, regulatory rules, market conditions, the actions of competitors and other factors beyond the control of the company.

All financial information included is unaudited and is prepared under the same recognition and measurement principles applied for the audited annual financial statements.

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Q1 2020 RESULTS

APRIL 30, 2020

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Geberit AG published this content on 30 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2020 08:22:07 UTC