Geberit AG surged 7.1% to CHF 564.2 on Tuesday after reporting a 2.8% rise in net sales to CHF 1.71 billion for the first half of 2026, driven by volume growth and pricing power.
Currency-adjusted net sales, which strip out foreign-exchange effects, climbed 5.9% in the period, marking the ninth consecutive quarter of positive growth at an average of roughly 5%. The Swiss manufacturer said strong demand and price increases offset CHF 53 million in negative currency impacts and higher raw material costs. Second-quarter sales reached CHF 838 million, up 6.6% in Swiss francs and 8.8% on a currency-adjusted basis.
Regional performance was mixed. Europe grew 5.6% on a currency-adjusted basis, with Eastern Europe up 11.8% and Switzerland advancing 9.7%, while Western Europe declined 0.4%. The Middle East and Africa led growth at 18.9%, followed by the Far East/Pacific at 6.5%. The Americas fell 5.0%, attributed to a base effect from U.S. tariff announcements a year earlier.
By product segment, installation and flushing systems rose 6.7%, piping systems gained 5.9%, and bathroom systems increased 5.0%. Profitability metrics improved: EBITDA climbed 3% to CHF 529 million, EBIT rose 4% to CHF 450 million, and net income grew 7.4% to CHF 364 million. Earnings per share advanced 7.9% to CHF 11.09.
Free cash flow declined 12.1% to CHF 217 million due to higher investments and tax-payment timing, while net debt increased to CHF 1.33 billion from CHF 1.17 billion. The equity ratio fell to 31.4% from 34.5%.
Geberit completed a CHF 300 million share buyback in June and launched a new two-year program of up to CHF 300 million, having repurchased 392,534 shares worth CHF 206 million in the first half.
Management reiterated its full-year 2026 guidance, targeting 5%–6% sales growth in local currencies and an EBITDA margin in line with 2025 levels.
