Construction industry in European countries is expected to post steady growth over the forecast period. The region is expected to grow at a CAGR of 4.9% during 2017-2021 to reach US$2,344 billion. Furthermore, ConsTrack360 expects growth to be broad based across countries – Nordic countries, Eastern European countries, and Western European countries.
In line with expectation, Swiss sanitary products manufacturer Geberit Group reported a net income of CHF153.4 million, an increase of 2.1% compared to same period previous year. The positive financials of Geberit indicates the beginning of recovery of the construction industry in the EU region, wherein the group has a significant business presence. Despite positive results, the group said that its profits were hit by the strong Swiss franc that resulted in higher raw materials costs.
The company, which generates majority of its sales through new construction projects, reported an operating profit (EBIT) of CHF180.2 million in the first quarter of 2017 as compared to CHF173.2 in the same period of 2016. During the reported period, adjusted operating profit grew by 3.8% to CHF 190.8 million, while adjusted net income grew by 2.2% to CHF 162.2 million.
