WASHINGTON (dpa-AFX) - Geberit AG (GBERY.PK, GBERF.PK), a Swiss maker of sanitary parts and related systems, reported Tuesday that its first-quarter net income decreased 11.4 percent to 190 million Swiss francs from last year's 215 million francs.
Earnings per share fell 9.9 percent to 5.73 francs from 6.36 francs a year ago.
Operating profit or EBIT was 239 million francs, down 7.5 percent from last year, and operating cashflow or EBITDA reached 275 million francs, a decline of 7 percent from the prior year. EBITDA margin dropped 30 basis points to 32.8 percent compared to the previous year.
Net sales decreased 6.2 percent to 837 million francs from prior year's 893 million francs amis a slight decline in volumes. Adjusted for currency effects, the decrease was 1.4 percent.
Further, the company said its Board of Directors has decided to repurchase shares amounting to a maximum of 300 million francs as part of a new share buyback programme running for a maximum period of two years.
The new programme is planned to start in the third quarter once the ongoing programme has been concluded.
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