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Business and Financial Review
Increase in net income
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In the year under review, Geberit generated a net income of MCHF 193.3 (prior year MCHF 147.0). This corresponds to a slightly under proportional increase of +31.5%.
Net financial expenses increased by +28.2% to MCHF 30.0, a result of the Mapress acquisition and currency losses.
Tax expenses rose markedly from MCHF 34.1 to MCHF 81.1. On the one hand, a positive non-recurring effect was recorded in the prior year as tax provisions of MCHF 11.3 had been released. On the other hand, due to the Mapress acquisition, the taxable profit share in Germany rose substantially in 2004. Furthermore, also a result of the acquisition, the share of expenses that are non-deductible for tax purposes increased. Due to these effects, the Group’s effective tax rate increased from 18.6% to 29.5% for the year under review. |
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| © 2005 Geberit AG - All rights reserved. Please read our legal information. |
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Jean Tinguely:
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