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Business and Financial Review
Improved economic framework conditions
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The economic growth drivers identified in many markets
worldwide had a positive impact on the construction
industry.
Although, according to the rather conservative Euroconstruct
estimates of December 2005, a moderately
positive growth continued to be recorded in the European
building construction sector, at 0.3% it was below
the prior year level (1.8 %). In particular the recovery in
the new construction segment indicated in 2004 was
slowed down mainly by the hesitant non-residential new
construction activities. The renovation market, where
Geberit generates approximately 70 % of its sales, experienced
a moderate rise (0.4 %). A comparison of these
index developments with Geberit’s sales figures shows
that, as in the prior years, the Geberit Group markedly
outperformed the industry environment in 2005.
In 2005, the US gross domestic product increased by
3.5%, compared to 4.2% in the preceding year. Construction
investments reached USD 1,160 billion which
corresponds to an 8.1% increase against 2004. While
the residential construction sector grew, the commercial
and public segments, which are important to Geberit,
stagnated.
In Asia (excluding Japan), the gross domestic product
in the year under review rose by 7.2%, mainly driven by
China. Nevertheless, the growth rate of construction
investments in China slightly declined at a high level.
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| © 2006 Geberit AG - All rights reserved. Please read our legal information. |
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