Swiss earnings call, November 2026: Geberit expects 5–6% sales growth in 2026

Geberit kept its full-year guidance unchanged

On its call for the third quarter of fiscal year 2026, held on 3 November 2026, a Geberit executive repeated the company's full-year targets.

• Geberit reiterated its guidance for the margin of earnings before interest, taxes, depreciation and amortization (EBITDA) at around last year's level. This was unchanged from the guidance given in August.
• Geberit expects the price effect for fiscal year 2026 to be 2% to 2.5%, with 2.5% toward the upper end of the range.
• Geberit reiterated tax-rate guidance of 18% to 19% of pre-tax income.
• Geberit said its market outlook was unchanged from its first-half communication in mid-August.

Geberit expects a weaker start to the fourth quarter

Geberit expects October 2026 sales development to be weaker than in the third quarter. The executive said the fourth quarter faces more challenging top-line comparisons. Analysts asked whether the full-year margin guidance implies a 29–29.5% range and whether fourth-quarter margin expansion depends on strong activity. Management declined to answer. Analysts also asked about fourth-quarter costs and energy exposure, and management gave a partial answer.

Geberit sees slight growth in Europe and mixed demand elsewhere

• Geberit expects the European building-construction industry to grow slightly in fiscal year 2026, with no broad recovery yet.
• Geberit said it maintains its slight positive view of the German market, despite 8% quarterly growth in Germany.
• Geberit described the building-construction outlook outside Europe as mixed, with good demand in India and a continued but slower decline in China.
• Geberit said it keeps a strong focus on new products, including a shower solution launched in April.
• Analysts asked whether the war affected sales growth in the Middle East and Africa. Management gave a partial answer.