Financial report  >  Consolidated financial statements Geberit Group

Notes to the Consolidated Financial Statements

  1. 1. Basis of preparation

  2. 2. Changes in Group organization

  3. 3. Summary of significant accounting policies

  4. 4. Risk assessment and management

  5. 5. Management of capital

  6. 6. Marketable securities

  7. 7. Trade accounts receivable

  8. 8. Other current assets and current financial assets

  9. 9. Inventories

  10. 10. Property, plant and equipment

  11. 11. Other non-current assets and non-current financial assets

  12. 12. Goodwill and intangible assets

  13. 13. Short-term debt

  14. 14. Other current provisions and liabilities

  15. 15. Long-term debt

  16. 16. Derivative financial instruments

  17. 17. Retirement benefit plans

  18. 18. Participation plans

  19. 19. Deferred tax assets and liabilities

  20. 20. Other non-current provisions and liabilities

  21. 21. Contingencies

  22. 22. Capital stock and treasury shares

  23. 23. Earnings per share

  24. 24. Cash discounts and customer bonuses

  25. 25. Other operating expenses, net

  26. 26. Financial result, net

  27. 27. Income tax expenses

  28. 28. Cashflow figures

  29. 29. Segment reporting

    The Geberit Group consists of one single business unit whose purpose is to develop, produce and distribute sanitary products and systems for the residential and industrial construction industry. All products are distributed using the same distribution channel – wholesale – in general to installers, who resell the products to the end customer. The products are produced by plants that specialize in particular production processes. As a general rule, only one specific article is produced at one location. Distribution is carried out by country or regional distribution companies, which sell to wholesalers. A distribution company is always responsible for the distribution of the whole range of products in its sales area. The main task of the distribution companies is local market development, which contains as a main focus the support of installers, sanitary planners and wholesalers. Research and development of the whole range of products is carried out centrally by Geberit International AG. All corporate tasks are also centralized at Geberit International AG.

    Due to the unity and focus of the business, the top management (Group Executive Board) as well as the management structure of the Geberit Group are organized by function (overall management, products, sales, finance). The financial management of the Group by the Board of Directors and the Group Executive Board is based on sales by markets and product lines as well as on the consolidated income statements, balance sheets, and statements of cashflows.

    Segment reporting is therefore prepared according to IFRS 8.31 ff (one single reportable segment) and the valuation is made according to the same principles as the consolidated financial statements. The geographical allocation of sales is based on the domicile of the customers.

    The information is as follows:

      2012 2011
      MCHF MCHF
    Sales by product lines    
    Installation Systems 780.0 767.7
    Cisterns and Mechanisms 243.5 226.9
    Faucets and Flushing Systems 125.9 121.0
    Waste Fittings and Traps 93.4 93.4
    Sanitary Systems 1,242.8 1,209.0
         
    Building Drainage Systems 306.3 308.6
    Supply Systems 638.7 605.0
    Piping Systems 945.0 913.6
         
    Total sales 2,187.8 2,122.6
    Cash discounts and customer bonuses 268.2 255.0
    Total revenue from sales 1,919.6 1,867.6

      2012 2011
      MCHF MCHF
    Sales by markets    
    Germany 768.1 723.1
    Switzerland 282.4 295.4
    Italy 180.2 198.9
    Other Europe 764.2 725.5
    Other markets 192.9 179.7
    Total sales 2,187.8 2,122.6
    Cash discounts and customer bonuses 268.2 255.0
    Total revenue from sales 1,919.6 1,867.6

      2012 2011
      MCHF MCHF
    Share of sales by customers    
    Customers with more than 10% of sales: customer A 319.6 292.9
    Total > 10% 319.6 292.9
         
    Remaining customers with less than 10% of sales 1,868.2 1,829.7
    Total sales 2,187.8 2,122.6
    Cash discounts and customer bonuses 268.2 255.0
    Total revenue from sales 1,919.6 1,867.6

  30. 30. Related party transactions

  31. 31. Foreign exchange rates

  32. 32. Subsequent events

  33. 33. Additional disclosures on financial instruments

  34. 34. Group companies as of December 31, 2012