May 02, 2023 / 07:00AM GMT
Operator
Ladies and gentlemen, welcome to the Geberit Conference Call on the First Quarter Results 2023. I am Sandra, the Chorus Call operator. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Mr. Christian Buhl, CEO. Please go ahead, sir.
Christian Buhl - Geberit AG - Chairman of the Group Executive Board & CEO
Thank you for the introduction, and good morning, ladies and gentlemen. Welcome to our conference call on our Q1 results. Geberit delivered convincing results in the first quarter with a challenging topline but a strong bottom-line development. Let me start with the key statements for the first quarter.
A net sales decline in local currencies of 4% due to a very strong comparison basis. Secondly, strong headwinds of minus 5% from the unfavorable currency development. And thirdly, a substantial EBITDA margin increase of 220 basis points to an EBITDA margin of 33.1% due to our consequent pricing management. The improved profitability led to currency-adjusted growth of all bottom-line
Q1 2023 Geberit AG Earnings Call Transcript
May 02, 2023
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