Geberit starts 2026 with growth in earnings and profitability

The Swiss group posted first-quarter net sales of CHF 873 million and an EBITDA margin of 32.5%.

The Geberit Group reported a satisfactory level of sales in the first three months of the year, with significantly improved operating margins and earnings.

In detail, net sales reached CHF 873 million, a slight decrease (-0.7%) compared to the same period in 2025 due to markedly negative currency effects. In currency-adjusted terms, however, sales climbed by 3.4%, driven by growth in volumes and prices.

Operating cashflow (EBITDA) rose by 2.3% to CHF 283 million, with EBITDA margin reaching 32.5% compared to 31.5% in the first quarter of 2025.

According to the group, profitability was bolstered by volume growth, lower direct material prices and higher sales prices, while wage inflation and increased investment in marketing, IT and digitalisation had a negative impact on operating costs.

Net income increased by 4.5% to CHF 196 million, corresponding to a return on net sales of 22.4% (previous year: 21.3%).

Net sales by region and product area

Europe remains the group’s primary growth driver, with sales increasing by 3.3%, while the Middle East/Africa region recorded an even more pronounced increase (+13.5%). In contrast, the Far East/Pacific region saw a 0.6% decline – largely due to the weakness of the Chinese market – while the Americas experienced a contraction of 4.4%.

All business units performed well: Installation and Flushing Systems achieved a 4.3% increase in currency-adjusted net sales while both Bathroom Systems and Piping Systems saw 2.8% growth.

Outlook for 2026

Looking ahead, Geberit notes that the building construction industry showed signs of stabilisation in 2025 following the sharp downturn that began in mid-2022, although dynamics still vary between new construction and renovation depending on the market.

In Europe, the group is anticipating slight overall market growth in 2026, although a full market recovery is not yet expected. More favourable indicators come from the renovation business, which accounts for around 60% of Geberit’s sales, supported by an increase in real estate transactions.

Outside Europe, the outlook remains mixed: while demand continues to grow in markets such as India, a continued decline is expected in China due to the slump in new construction activities. Against this backdrop, Geberit aims to further expand its market position through targeted strategic initiatives, including the launch of new products, investments in IT, digitalisation and artificial intelligence, and new marketing activities aimed at end customers and architects.