The leading European sanitary products company, Geberit Group, which operates worldwide, has been successful despite the crisis. In 2020, the COVID-19 pandemic and the negative currency affected the company’s sales. In the second quarter, restrictions imposed by the COVID-19 pandemic resulted in a significant decline in sales in individual markets, which was offset in the second half of the year.
While Geberit Group net sales fell 3.1% to 2,986 million Swiss francs, a 1.3% growth was achieved after currency adjustments. As a result, the company increased sales despite the crisis, as well as gained a bigger market share.
These favourable results were due to a strong market position, smart crisis management and a conscious decision not to lay off employees, plus maintaining contact with customers during the lockdown period.
Net sales in the fourth quarter amounted to 724 million Swiss francs, equivalent to an increase of 3.2% in Swiss francs and an increase in the adjusted currency of 6.8%. This follows from a slight 1.5% increase in the first quarter, a 10.7% decline in the second quarter and an 8.5% growth of in the third quarter, in local currencies.