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Geberit Q1 profit falls YOY

Geberit AG said its first-quarter normalized net income was CHF2.30 per share, a decline of 15.1% from CHF2.71 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF86.3 million, a decrease of 15.3% from CHF101.9 million in the prior-year period.

The normalized profit margin declined to 13.6% from 18.4% in the year-earlier period.

Total revenue rose 14.9% on an annual basis to CHF636.6 million from CHF553.9 million, and total operating expenses rose 24.1% year over year to CHF484.8 million from CHF390.7 million.

Reported net income decreased 15.0% year over year to CHF120.6 million, or CHF3.21 per share, from CHF141.9 million, or CHF3.77 per share.