Q1 2020 Results Christian Buhl, CEO Roland Iff, CFO April 30, 2020
Key figures Q1 2020 Net sales growth (in CHF) Net sales growth (currency adj.) EBITDA margin +1.5% -3.9% 32.6% +100 bps vs PY EPS growth (in CHF) Share buyback (in CHF) COVID-19 impact Negative impact since 2 nd half of • March -4.3% 116 million • Almost all countries affected by lower demand • Supply chain intact 261’543 shares in Q1 SLIDE 2 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%) 12 830 45 798 Net sales Growth Currency Net sales Q1 2019 in local currency effect Q1 2020 +1.5% -5.4% SLIDE 3 Q1 2020 RESULTS APRIL 30, 2020
Q1 2020 net sales Net sales in 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% SLIDE 4 Q1 2020 RESULTS APRIL 30, 2020
Key figures Q1 2020 – Strong profitability CHF million Q1 2020 Q1 2019 % YoY • Further improved profitability despite significant tariff Net sales 798 830 -3.9% increases due to EBITDA 260 262 -0.7% − Lower raw material prices Margin 32.6% 31.6% EBIT 224 227 -1.6% − Positive one-time effects on raw material costs Margin 28.0% 27.4% − Efficiency projects Net income 184 192 -4.4% Margin 23.0% 23.1% − Cost discipline EPS (CHF) 5.10 5.33 -4.3% − Sales price increases Free cashflow -7.1 5.3 -234.0% Margin -0.9% 0.6% 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% +0.1% 31.6% 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 • Positive one-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 SLIDE 6 Q1 2020 RESULTS APRIL 30, 2020
COVID-19 implications on Geberit – Status per April 30, 2020 • Negative impact on demand in 2 nd half 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 decline in other “open” countries due to COVID -19 driven restrictions on construction activities • Showrooms starting to re-open again in several countries • Overall intact and running on normal level – all products available Supply Chain • 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 Priorities • Adaption of organization to current market realities and demand fluctuation • No outlook possible due to fast moving and unpredictable implications of COVID-19 crisis Outlook SLIDE 7 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. SLIDE 8 Q1 2020 RESULTS APRIL 30, 2020
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