Geberit Posts Increase In Profit

Geberit AG GBERF reported a rise in its second-quarter profit. The Switzerland-based company's net income attributable to shareholders rose to 130.8 million Swiss francs, versus 114.4 million francs, in the year-ago period. Its earnings per share surged to 3.48 francs, versus 3.04 francs. Its sales jumped to 617.9 million francs compared to 591.1 million francs. Revenue from sales rose to 535 million francs from 516.4 million francs. Geberit's operating profit jumped to 152.4 million francs versus 133.6 million francs, while operating margin widened to 24.7% from 22.6%. Its earnings before interest, tax, depreciation and amortization (EBITDA) climbed to 171.8 million francs from 153.9 million francs. For the first half, Geberit's net income rose 16.9% to 272.7 million francs, while sales increased 7.1% to 1.26 billion francs. In local currencies, the company's sales jumped 8.6%. Geberit's sales in Europe jumped 8.4% on a currency-adjusted basis, while sales in America climbed 5.5%, Sales in the Middle East/Africa surged 16.6%, while sales in Far East/Pacific jumped 11.7%. Geberit projects 2014 currency-adjusted sales to rise at the upper end of the medium-term target range of 4% to 6% and an operating cashflow margin slightly above the earlier year's level. As of the end of June 2014, The Geberit Group employed 6279 people worldwide.