Geberit: stock sanctioned after H1 results.
(CercleFinance.com) - Geberit is having a tough time, with the stock down 6.
8% in early trading in Zürich today, after the group announced disappointing interim results.
The Swiss specialist in the manufacture of sanitary equipment saw its H1 net profit fall 18.4% y-o-y to 258.2 million Swiss francs, against 275.1 million Swiss francs expected by analysts. It suffered from exceptional costs related to the closure of two factories in France, which totaled 44 million Swiss francs, in addition to 3 less working days.
Adjusted Ebit came in at 379.7 million Swiss francs, down 2.7% y-o-y, while turnover fell by 0.7% to 1.47 billion Swiss francs, including 732.2 million Swiss francs in Q2 alone (-3.8%).
However, Geberit targets FY organic sales growth, adjusted for FX factors, of 3% to 4%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
8% in early trading in Zürich today, after the group announced disappointing interim results.
The Swiss specialist in the manufacture of sanitary equipment saw its H1 net profit fall 18.4% y-o-y to 258.2 million Swiss francs, against 275.1 million Swiss francs expected by analysts. It suffered from exceptional costs related to the closure of two factories in France, which totaled 44 million Swiss francs, in addition to 3 less working days.
Adjusted Ebit came in at 379.7 million Swiss francs, down 2.7% y-o-y, while turnover fell by 0.7% to 1.47 billion Swiss francs, including 732.2 million Swiss francs in Q2 alone (-3.8%).
However, Geberit targets FY organic sales growth, adjusted for FX factors, of 3% to 4%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.