Adds additional element from assertion, background
ZURICH, Aug 19 (Reuters) – Geberit GEBN.S warned about rising uncooked supplies costs on Thursday after the constructing supplies provider reported an enormous leap in second quarter gross sales and earnings.
The maker of piping, lavatory ceramics and bathe bathrooms stated it was seeing “important challenges on the uncooked supplies markets,” with its price of supplies rising through the second quarter.
Geberit, an enormous person of metals like aluminum and copper, in addition to plastics and ceramics, stated the upper costs had weighed on revenue margins and have been anticipated to extend once more by 6% through the third quarter in comparison with the second quarter.
Nonetheless, the corporate elevated its second quarter gross sales by 38% to 923.eight million Swiss francs ($1.00 billion), because it rebounded from final yr’s pandemic-driven downturn, and benefited from a inventory construct up by prospects and the house enchancment development.
Working revenue elevated 67% to 270 million Swiss francs the Swiss firm stated, whereas internet revenue surged 73% to 227.1 million francs.
In its first outlook for 2021, the corporate stated it now expects to extend its annual gross sales within the low double digit proportion vary this yr. It additionally expects the margin for its earnings earlier than curiosity, tax, depreciation, and amortisation to be on the higher finish of its mid-term goal vary of 28% to 30%.
($1 = 0.9193 Swiss francs)
(Reporting by John Revill; modifying by Brenna Hughes Neghaiwi)
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