Changes in Group structure
Due to limited synergies with the core business, the Koralle Group was sold to AFG Arbonia-Forster-Holding AG on 1 July 2016 for EUR 33.0 million plus cash. Geberit took over Koralle as part of the Sanitec acquisition in 2015. Employing 240 people, the supplier of shower enclosures operated mainly in the Swiss, German and Austrian markets. In the first half of 2016, Koralle contributed CHF 22.6 million to net sales, CHF 2.1 million to EBIT and CHF 1.7 million to net income of the Geberit Group.
In addition, there were various changes to the legal structure of the Geberit Group,
mainly in connection with the integration of the Sanitec Group. Please see also the
Financial Statements of the Geberit Group, Notes to the Consolidated Financial Statements, 2. Changes in Group structure.