H1 2020 Results Christian Buhl, CEO Roland Iff, CFO 18 August 2020 - - PowerPoint PPT Presentation

H1 2020 Results

Christian Buhl, CEO Roland Iff, CFO 18 August 2020

SLIDE 2

Agenda

• H1 2020 at a glance
• Outlook 2020

AUGUST 18, 2020 H1 2020 RESULTS

SLIDE 3

Key figures H1 2020

Net sales growth (in CHF)

• 9.8%

Net sales growth (currency adj.)

• 4.5%

EBITDA margin +70 bps vs PY

31.5%

EPS growth (in CHF)

• 13.5%

COVID-19 impact

• Negative impact since 2nd half of

March

• Improvement since mid of May
• Intact supply chain during crisis

AUGUST 18, 2020 H1 2020 RESULTS

Share buyback (in CHF) 262’000 shares bought back in H1 2020

116 million

SLIDE 4

Net sales H1 2020 – Negative impact from COVID-19 crisis and currencies

AUGUST 18, 2020 H1 2020 RESULTS

Total variance: CHF -159 million (-9.8%) 73 87 1′627 Net sales H1 2019 Growth in local currency Currency effect Net sales H1 2020 1′468

• 4.5%
• 5.3%

In CHF million

SLIDE 5

H1 2020 net sales

AUGUST 18, 2020 H1 2020 RESULTS

Net sales in million CHF Variance to PY in CHF Variance to PY in c.a. Geberit Group 1’468

• 9.8%
• 4.5%

By region Europe 1’352

• 8.7%
• 3.3%

Far East / Pacific 40

• 24.2%
• 18.5%

America 47

• 8.6%
• 5.4%

Middle East / Africa 29

• 31.6%
• 25.9%

By product area Installation & Flushing Systems 556

• 10.3%
• 4.8%

Piping Systems 448

• 9.0%
• 3.8%

Bathroom Systems 464

• 9.9%
• 4.6%

SLIDE 6

Germany 34% Switzerland 10% Nordic Region 10% Eastern Europe 10% Benelux 9% Austria 6% Italy 6% France 5% UK / Ireland 2% Iberian Peninsula 1% America 3% Far East / Pacific 3% Middle East / Africa 2%

H1 2020 net sales – COVID-19 lockdown countries severely impacted

AUGUST 18, 2020 H1 2020 RESULTS

Share of net sales Net sales growth, % c.a.

1,4% 0,2% 0,5%

• 25,1%
• 20,9%
• 5,4%
• 18,5%
• 25,9%

2,2% 0,4%

• 19,2%
• 34,1%

2,9%

Europe Inter- national Total -4.5% Net sales, CHF million 495 150 148 143 130 82 82 76 36 10 47 40 29

SLIDE 7

Q2 2020 net sales

AUGUST 18, 2020 H1 2020 RESULTS

Net sales in million CHF Variance to PY in CHF Variance to PY in c.a. Geberit Group 671

• 15.9%
• 10.7%

By region Europe 613

• 14.9%
• 9.7%

Far East / Pacific 23

• 22.6%
• 16.1%

America 22

• 14.7%
• 11.3%

Middle East / Africa 12

• 42.2%
• 36.8%

By product area Installation & Flushing Systems 243

• 17.9%
• 12.6%

Piping Systems 206

• 15.1%
• 10.1%

Bathroom Systems 221

• 14.2%
• 9.0%

SLIDE 8

Key figures H1 2020 – Operational profitability on PY level

AUGUST 18, 2020 H1 2020 RESULTS

• EBIT margin on previous year level despite

substantial COVID-19 driven sales decline

− Fast and targeted cost containment measures − High flexibility in production and logistics − Lower raw material prices − Sales price increases

• Higher depreciation due to increased investments in

previous years

• Increased tax rate
• Decline of FCF due to base effect and negative NWC

impact CHF million H1 2020 H1 2019 % YoY Net sales 1’468 1’627

• 9.8%

EBITDA 462 501

• 7.8%

Margin 31.5% 30.8% EBIT 386 431

• 10.5%

Margin 26.3% 26.5% Net income 315 365

• 13.9%

Margin 21.4% 22.4% EPS (CHF) 8.77 10.14

• 13.5%

Free cashflow 174 257

• 32.3%

Margin 11.9% 15.8%

SLIDE 9

Key figures Q2 2020 – Operational profitability slightly below PY

AUGUST 18, 2020 H1 2020 RESULTS

CHF million Q2 2020 Q2 2019 % YoY Net sales 671 797

• 15.9%

EBITDA 202 239

• 15.5%

Margin 30.1% 30.0% EBIT 162 203

• 20.4%

Margin 24.1% 25.5% Net income 131 173

• 24.4%

Margin 19.5% 21.7% EPS (CHF) 3.65 4.81

• 24.1%

Free cashflow 181 252

• 28.1%

Margin 27.0% 31.6%

• EBIT margin slightly below previous year despite

substantial COVID-19 driven sales decline

− Fast and targeted cost containment measures − High flexibility in production and logistics − Lower raw material prices − Sales price increases

• Higher depreciation due to increased investments in

previous years

• Increased tax rate
• Decline of FCF due to base effect and negative NWC

impact

SLIDE 10

EBITDA margin H1 2020 – Increase of margin by 70 bps

AUGUST 18, 2020 H1 2020 RESULTS

• Negative volume effect due to COVID-19 driven volume decline
• Positive net price effect due to lower raw material prices and price increases
• Limited other cost effect despite substantial sales decline due to fast and targeted cost containment measures and increased

flexibility in operations

• Only minor negative currency effect due to effective natural currency hedge

+0.7%

• 1.6%
• 0.2%

EBITDA margin H1 2019 Volume and product mix effect +1.8% Price effects, net Other cost effects Currency effect EBITDA margin H1 2020 30.8% 31.5%

SLIDE 11

Agenda

AUGUST 18, 2020 H1 2020 RESULTS

• H1 2020 at a glance
• Outlook 2020

SLIDE 12

Outlook Geberit 2020

• The outlook is based on the assumption of no second lockdown wave

− Further normalization of building construction industry during the second half of the year − Net sales in local currencies in the second half of 2020 slightly below second half of 2019 − Full year EBITDA margin 2020 slightly below previous year

AUGUST 18, 2020 H1 2020 RESULTS

SLIDE 13

Disclaimer

While Geberit is making great efforts to include accurate and up-to-date information, we make no representations

• r 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.

AUGUST 18, 2020 H1 2020 RESULTS