Geberit Azione Forum

Geberit CEO expects construction industry to continue to shrink in 2024

Christian Buhl, CEO of the sanitary technology group Geberit $GEBN (-0,16%) predicts that the European construction industry will continue to shrink in 2024, particularly in the new construction sector.

In an interview with the NZZ, he emphasized that this represents one of the biggest slumps in new residential construction in Geberit's core markets in decades.

Although short-term predictions are difficult, Buhl emphasized the importance of a long-term perspective. Despite a decline in sales in 2023, Geberit has increased investments in production facilities in order to differentiate itself from competitors. Buhl emphasizes that the demand for sanitary products such as toilets will remain constant.

When asked about the cluster risk in Germany, which accounts for around 30% of Geberit's sales, Buhl explains that this risk is relative. When the market is going badly, one speaks of a cluster risk, but when market conditions are good, one does not speak of a cluster opportunity. He also emphasizes that Central Europe remains the most profitable market with the most attractive margins for the global sanitary industry.

So where is the German construction industry headed? What do you think?

LiKe aNd SubScriBe (lol)

Source:

Geberit-CEO Christian Buhl erwartet 2024 weiterhin schrumpfende Bauindustrie | Finanz und Wirtschaft (fuw.ch)

Are you invested in Swiss companies?

At the top of my list is $NESN (-1,69%) and (which is rarely mentioned here) $GEBN (-0,16%) to buy. Do you have any other companies in your portfolio or are you considering buying?

As every Sunday, the most important news of the last week and the dates of the coming week.

The dates of the coming week as a video:

https://youtube.com/shorts/9slv_6lrsUE?si=wyuXHFEHzMM6VORY

Monday:

Real estate crisis in Germany 🇩🇪 and in China 🇨🇳, Country Garden falters in China. The next project developer after China Evergrande. In Germany, Development Partner, the Project Group and Euroboden are three project developers sliding into insolvency. The effects in China, however, would be more drastic. A large part of the global assets are in the Chinese real estate market, which is considered to be highly overvalued.

https://app.handelsblatt.com/finanzen/immobilien/krise-am-bau-nach-drei-insolvenzen-in-einer-woche-angst-vor-pleitewelle-bei-projektentwicklern/29329886.html

$NWO Xing (New Work) earns less money. Sales stagnated, earnings were 24% below the previous year's level. The reasons are fewer paid memberships and higher personnel expenses.

$FOXT (-1,15%) Foxconn lowers forecast, Apple's contract manufacturer suffers from generally low demand for consumer electronics.

https://app.handelsblatt.com/unternehmen/industrie/-geschaeftszahlen-im-newsblog-deutlicher-ergebnisrueckgang-bei-xing-betreiber-new-work/24098412.html

The inflation rate in #indien 🇮🇳 is rising significantly. The reason for this is rising food prices. Inflation rises to 7.44% in July. The forecast was only 6.6%.

https://www.cnbctv18.com/economy/retail-inflation-rate-in-india-iip-cpi-data-17527381.htm/amp

New offer from bidder Adnoc from Abu Dhabi for $1COV (-0,8%) Covestro, the price is now EUR 60. Management has so far resisted the takeover.

https://www.deraktionaer.de/artikel/aktien/covestro-bietet-adnoc-bald-60-euro-je-aktie-20337641.html

Zhongzhi Enterprise also facing problems - The Chinese asset manager cannot service part of its payment obligations. The renminbi falls to new lows. One yuan now costs only USD 0.14.

https://app.handelsblatt.com/finanzen/banken-versicherungen/versicherer/kapitalmaerkte-einer-der-groessten-privaten-vermoegensverwalter-chinas-geraet-in-probleme/29330636.html

Tuesday:

Chinese growth appears to be slowing right now. The central bank announces a surprise interest rate cut. Industrial production was only 3.7% above the previous year's level instead of the expected 4.4%. The interest rate cut further devalues the national currency, supports the economy and makes imports from China even more attractive.

https://app.handelsblatt.com/politik/konjunktur/konjunktur-chinas-industrieproduktion-und-einzelhandelsumsaetze-wachsen-langsamer-als-erwartet/29331996.html

Possible downgrade of the creditworthiness of the major US banks. This step is currently being considered by the rating agency Fitch and is causing uncertainty on the markets.

https://www.handelsblatt.com/finanzen/anlagestrategie/trends/ratingagentur-fitch-erwaegt-herabstufung-von-us-grossbanken/29333464.html?nlayer=Newsticker_1985586

Wednesday:

Hangover on the stock market - after the record highs in the DAX, prices are currently falling again. Among other things, the bad Chinese economic data, as well as the possible downgrade in U.S. banks, cloud the mood. In addition, it became known that Michael Burry once again shorts the market.

Matching the new expert recommendation from the Ministry of Economic Affairs, it is known that the Norwegian sovereign wealth fund is again making record profits. The fund grew by 130 billion euros to 1.3 trillion euros.

https://app.handelsblatt.com/finanzen/anlagestrategie/fonds-etf/fonds-norwegischer-staatsfonds-schreibt-wieder-milliardengewinn/29334176.html

Significant drop in inflation in the UK, inflation fell to 6.8%, which was expected. However, core inflation was 10 basis points higher than expected at 6.9%.

https://www.cnbc.com/amp/2023/08/16/uk-headline-inflation-rate-drops-sharply-to-6point8percent-in-july-in-line-with-expectations.html

$700 (-2,42%) Tencent is growing again but missed market expectations. Although revenue rose by eleven percent and profit by 41 percent, analysts had expected more.

https://app.handelsblatt.com/unternehmen/industrie/-geschaeftszahlen-im-newsblog-videospieleanbieter-tencent-waechst-wieder-markterwartungen-verfehlt/24098412.html

The FED minutes show above all that the central bankers are at odds. As already communicated, the next interest rate decisions will probably be data-driven. There is much to be said for a pause in interest rates, but there could also be a further increase.

https://app.handelsblatt.com/finanzen/geldpolitik/fed-protokolle-us-notenbanker-uneins-ueber-weiteren-zinskurs/29335352.html

Thursday:

$CSCO (+0,49%) Cisco expects lower revenue growth, but was able to increase profits significantly.

The Swiss sanitary technology group $GEBN (-0,16%) Geberit is selling less due to the construction slump. The Group therefore expects a decline in sales for the full year.

https://app.handelsblatt.com/unternehmen/industrie/-geschaeftszahlen-im-newsblog-pc-flaute-macht-computerkonzern-lenovo-zu-schaffen/24098412.html

#china is trying to protect the renminbi from a further decline in value by selling dollars. With China struggling with a weaker currency due to the interest rate cut, dollar reserves are now being sold.

https://www.reuters.com/markets/currencies/chinas-major-state-banks-sell-dollars-yuan-london-ny-hours-sources-2023-08-17/

$ADYEN (-1,86%) is struggling with an unexpected operating profit slump. The payment service provider from the Netherlands has been known as the 'working' Wirecard competitor.

https://app.handelsblatt.com/finanzen/banken-versicherungen/banken/zahlungsabwickler-gewinneinbruch-bei-adyen-kurssturz-vernichtet-zwoelf-milliarden-an-boersenwert/29337408.html

According to Europace, real estate prices continue to fall in July. Condominiums lost on average 0.79% in value compared to the previous month, new construction houses by 0.23% and existing houses by 0.45%.

https://app.handelsblatt.com/finanzen/immobilien/hauspreisindex-immobilienpreise-sinken-im-juli-weiter/29337230.html

Friday:

Space X sells crypto stocks, pushing the $BTC (-0,42%) Bitcoin into the minus.

https://www.businessinsider.de/wirtschaft/finanzen/bitcoin-kurs-gefallen-weil-spacex-seine-bestaende-verkauft-hat/

In China, the real estate crisis continues to worsen. The Evergrande Group has filed for creditor protection under US law. In total, the group is in debt to the tune of around 300 billion euros.

https://app.handelsblatt.com/finanzen/immobilien/immobilien-china-evergrande-stellt-antrag-auf-glaeubigerschutz-in-den-usa/29338668.html

The summary inflation data for the euro zone give a small reason for hope. Overall, the inflation rate is falling slightly compared with the previous month. In July, the rate was still 5.3%, while in the previous month it was 5.5%. Core inflation (adjusted for energy and food prices) remained at 5.5%.

https://app.handelsblatt.com/finanzen/geldpolitik/inflation-preisschub-im-euro-raum-ebbt-im-juli-nur-leicht-ab/29339664.html

Further slump in building permits in Germany. Permits are 25% below the prior-year figure. In the first half of the year, 135,200 units were approved. In the previous year, the figure was 50,600 units higher.

https://app.handelsblatt.com/finanzen/immobilien/immobilien-baugenehmigungen-in-deutschland-brechen-im-ersten-halbjahr-ein-/29339098.html

These are the most important dates for the coming week:

Monday: 03:15 Interest rate decision (China)

Tuesday: 16:00 Real estate sales figures (USA)

Wednesday: 9:30 Purchasing Managers Index (DE)

Thursday: 14:30 New orders (USA)

Friday: 01:30 Inflation data (Japan)

#boersengehandelteralltag

Hi, somewhere in the feed there was a story...

It was about which listed companies you come into contact with in everyday life.

Somehow that appealed to me, and I thought to myself, that would be something where I could actively participate....

So....

After the morning bath visit with among other things products of $UN or $PG (+0,18%) are used, comes directly already a hot drink from $NESTS.

Then I pack my service laptop of $HPQ (-1,52%) with $INTC (-2,95%) inside, as well as my tablet and cell phone $SMSD (-3,74%) and $AAPL (+0,17%) in the bag and make me on the way.

Then I realize schei.... what forgotten, and run back to the bathroom again and mount my wristwatch from $UHRN (-3,18%) and the glasses from $FIE (-1,97%)

The way to work I do relatively comfortably in a $F (-0,38%), the ride is secured by $ALV (-2%).

On the way I get me depending on my mood still a croissant from $ARZTY. On the about 50km long distance on the highway I meet of course all other manufacturers $BMW (-0,59%)
$VOW3 (+0,38%)
$DTG (-0,12%)
$MBG (-0,93%)
$N/A and in Switzerland drive relatively many $TSLA (-6,59%) and of course many more...

Shortly before I then in my Bude $CARL A (-2,68%) arrive, I still drive at the headquarters of $ROG (-1,18%) and $NOVN (-0,7%) headquarters...

When I arrive at the desk, I see the keyboard of $LOGN (-2,18%) ...

How should it be different na of course we work with $SAP (-0,16%).

So that I do not freeze runs in the Bude ne heating from $MTG (-0,96%)

After I have worked hard, my hands need a break and a bit of care $BEI (-0,48%).

I look then with pleasure also times in my depot which does itself at the stock market so $CBK (-2,23%).

Every now and then I have to do some research. $GOOG (+1,15%). Our IT runs of course not without $CSCO. (+0,49%)

During the break I like to have a drink with colleagues $PEP (+0,08%) with colleagues, or we serve ourselves on the 2nd floor $SCHP (-1,74%) at the inhouse vending machine of $SBUX (-1,15%).

After the coffee a visit to the toilet may not be missing, surely pipes of $GEBN (-0,16%) installed.

Professionally I call a lot, our provider $SCMN (-1,35%)

Not directly in my job, but in the gaff drive insanely many devices from $JUN3 (-0,23%) and $KGX (-3,94%) which I can observe from the break room.

In my department we also have many products from $MMM (-1,01%) in use.

In the afternoons, I test products and their flow properties from $DGE as part of my job. In the past, I also tested $BUD products, but we stopped working together.

On the way home I fill up with gas at $SHEL (-0,63%) and because life is so good, I get a little cash at $CSGN

Oh yes I forgot to mention my shoes from $ADS (-2,05%) on which I am comfortable all day on the road ...

Well, and when I'm back home, my wife has me a little luck something delicious from $GIS (+0,3%) maybe even with a sauce from $KHC (-1,21%) cooked...

With a little less luck she shows me the latest purchases made by you at$AMZN (+1,9%) :-)

Then I go to the basement and start the washing machine from $VZUG with products from $HEN (-0,36%)

To the end of the day I treat myself then if necessary still a cool $KO (+0,08%) ....

So far a little insight...

I hope you could follow me :-) Surely still forgotten many companies with which I am in daily contact...

Thanks for the comment with the $ have that still adjusted and the one or other company which I still thought of added...

Greetings Jo

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗜𝗣𝗢𝘀 🔔

Rivian - The electric vehicle startup, obtained 20% by Amazon ( $AMZ (+1,9%) ) , is seeking $8.4 billion in funding through the IPO. This would make it the third largest IPO in the U.S. in the last 10 years. Rivian would be valued at $53 billion, almost as much as Honda ( $HDM (-0,69%) A share is expected to cost between $57 and $62.

In October, Amazon ordered 100,000 electric delivery vehicles from Rivian, which is building a brand of electric SUVs and pickups in parallel with this production.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

Date ex-dividend: Armstrong World Industries ( $91A (+0%) ), Banco Bradesco ( $BRE (+0%) ), Banco Santander (Mexico) ($BSMX ), Cambridge Bancorp ( $CATC ), Fomento Económico Mexicano ( $FOMC (-2,49%) ), Hess Midstream ( $HESM ), Hope Bancorp ( $NRB (-1,15%) ), NextEra Energy ( $1NG ), S&T Bancorp, Inc. $STBA ) and WSFS Financial Corporation ( $WSFS (+1,85%) ).

𝗖𝗵𝗶𝗳𝗳𝗿𝗲𝘀 𝘁𝗿𝗶𝗺𝗲𝘀𝘁𝗿𝗶𝗲𝗹𝘀📈

Today ( $ACE1 (-3,59%) ), Ansys ( $AKX (-0,18%) ), BMW ( $BMW (-0,59%) ), Geberit AG ( $GBRA (-0,16%) ), Klöckner & Co ( $KCO (-1,05%) ), Lufthansa ( $LHA (-1,3%) ), Marriott International ( $MAQ (-0,37%) ), MetLife ( $MWZ (+0,82%) ), Norma Group ( $NOEJ (-2,86%) ), Novo Nordisk ( $NOVC ), Qualcomm ( $QCI (-2,78%) ), Raiffeisen ( $RAW (-0,14%) ), Teamviewer ( $TMV (+0,2%) ) and Zalando ( $ZAL (-1,46%) ) present their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

Fed - The Federal Reserve holds its interest rate meeting today, at which the U.S. central bank will likely announce a reduction in its bond-buying program. As a result, speculation about a possible interest rate hike next year is already in the air.

In advance, the markets are very positive and remain well oriented. According to CMC Markets analyst Jochen Stanzl, this change in monetary policy is no longer a major factor for the stock markets. The reason is that the quarterly figures are still very positive.

Lufthansa ( $LHA (-1,3%) ) - In the third quarter, Deutsche Lufthansa nearly doubled its revenue. Revenue rose 96 percent to 5.2 billion euros in the months of July through September. The adjusted loss before interest and taxes fell to 17 million, compared with 1.262 billion in the same period last year. This is an "important step" to get out of the crisis, said group CEO Carsten Spohr. The Group expects to be able to continue to increase its revenue over the full year 2021.

HelloFresh ( $HFG (+0,3%) ) - HelloFresh raised its revenue guidance again on the back of strong growth in the current fiscal year through October. Core revenues increased to €1.416 billion from €970 million in the same period last year. This is due to strong customer growth and a continued high order rate as well as high average order values. The adjusted operating margin before interest, taxes, depreciation and amortization is expected to be between 8.25 and 10.25 percent.

G20 - The global minimum tax is due in 2023. Any company with annual sales of more than €750,000 will pay a 15 percent tax on its profits. Large digital companies must have at least €20 billion in revenue and a pre-tax profit margin of at least 10 percent to be covered by the global sales tax. Amazon ( $AMZ (+1,9%) ) would then be spared its 5% margin, while Apple ( $APC (+0,17%) ) would be asked to pay. Tax havens would also become less attractive, as the tax burden would not fall on the home countries, as is currently the case, but on the market countries, i.e. where most of the turnover is generated.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

El Salvador - With the surplus from the El Salvador Bitcoin Trust, the country wants to build 20 new "Bitcoin schools." After another purchase of 420 BTC ( $BTC-EUR (-0,42%) ), the government currently holds 1,120 BTC in its Bitcoin Trust account. Already in mid-October, President Nayib Bukele announced the allocation of four million US dollars from the Bitcoin Trust for the construction of a new veterinary hospital.

Squid Game - The coin bearing the abbreviation SQUID, which alludes to the Netflix series Squid Game, shocked the crypto scene yesterday. The coin was launched last Thursday at a starting price of $0.01. Within 4 days, the price increased by an incredible 380,000.00% to $38 on Monday morning. After further growth, the price rose to $89 the same day. However, the journey was not to end there. Within 3 hours, one event followed another. The price of SQUID reached an incredible $2,861.80 and just 5 minutes later, the coin collapsed 99.99% to $0.0007926.

In addition, the website that was promoting the coin is no longer online. It is also known that many SQUID holders were unable to sell their positions after a while, so they could only sit on their hands. It was therefore a "rug-pull", i.e. the promoters of the project sold it and went underground with the profits. In addition, it is now clear that there is no connection with Netflix or other representatives of the series.

Please consider this story as a warning (🚨) of what can happen when one recklessly invests in small-cap memes. Many investors have lost their money with no chance of getting it back. Educate yourself before you invest. You'll be able to see exactly what you need to pay attention to on our Instagram page in the coming days.

🤜🏼🤜🏼🤜🏼 @MarketNewsUpdate

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗘𝗹𝗲𝗸𝘁𝗿𝗶𝗳𝗶𝘇𝗶𝗲𝗿𝘁𝗲𝗿 𝗜𝗣𝗢 / 𝗭𝗶𝗻𝘀𝗲𝗻𝘁𝘀𝗰𝗵𝗲𝗶𝗱𝘂𝗻𝗴 / 𝗥𝗮𝘂𝘀 𝗮𝘂𝘀 𝗱𝗲𝗿 𝗞𝗿𝗶𝘀𝗲 / 𝗕𝗶𝘁𝗰𝗼𝗶𝗻-𝗦𝗰𝗵𝗼𝗼𝗹𝘀

𝗜𝗣𝗢𝘀 🔔

Rivian - The electric vehicle startup, which is 20 percent owned by Amazon ($AMZ (+1,9%)), is seeking $8.4 billion in funding by going public. That would make it the third-largest IPO in the U.S. in the last decade. This would give Rivian a valuation of $53 billion and would be almost as big as Honda ($HDM (-0,69%)). A share is expected to cost between $57 and $62.

As recently as October, Amazon ordered 100,000 electric delivery vehicles from Rivian, which is building a brand of electric SUVs and pickups alongside that production.

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

As of today, Armstrong World Industries ($91A (+0%)), Banco Bradesco ($BRE (+0%)), Banco Santander (Mexico) ($BSMX), Cambridge Bancorp ($CATC), Fomento Económico Mexicano ($FOMC (-2,49%)), Hess Midstream ($HESM), Hope Bancorp. ($NRB (-1,15%)), NextEra Energy ($1NG), S&T Bancorp, Inc. ($STBA) and WSFS Financial Corporation ($WSFS (+1,85%)) traded ex-dividend.

𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈

Things are really busy again, so here are the main companies presenting their figures today. Today, Acerinox ($ACE1 (-3,59%)), Ansys ($AKX (-0,18%)), BMW ($BMW (-0,59%)), Geberit AG ($GBRA (-0,16%)), Klöckner & Co ($KCO (-1,05%)), Lufthansa ($LHA (-1,3%)), Marriott International ($MAQ (-0,37%)), MetLife ($MWZ (+0,82%)), Norma Group ($NOEJ (-2,86%)), Novo Nordisk ($NOVC), Qualcomm ($QCI (-2,78%)), Raiffeisen ($RAW (-0,14%)), Teamviewer ($TMV (+0,2%)) and Zalando ($ZAL (-1,46%)) presented their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

Fed - The Federal Reserve holds its interest rate meeting today, at which the U.S. central bank is likely to announce a cut in its bond-buying program. Therefore, speculation of a possible rate hike next year is already in the room.

In the run-up, the markets present themselves in a very positive mood and continue to be on a strong course. According to analyst Jochen Stanzl of CMC Markets, this monetary policy change no longer represents a supporting burden for the stock markets. The reason for this is the consistently very positive quarterly figures.

Lufthansa ($LHA (-1,3%)) - In the third quarter, Deutsche Lufthansa almost doubled its revenue and returned to operating profit since the beginning of the crisis. Revenue rose 96 percent to 5.2 billion euros in the months from July to September. Adjusted loss before interest and taxes narrowed to 17 million from 1.262 billion in the same period last year. It was a "milestone" out of the crisis, said Group CEO Carsten Spohr. The Group expects to be able to continue increasing its sales in the full year 2021.

𝗖𝗿𝘆𝗽𝘁𝗼 💎

El Salvador - The country plans to build 20 new "Bitcoin Schools" from the surplus of El Salvador's Bitcoin Trust. After another bitcoin purchase of 420 BTC ($BTC-EUR (-0,42%)), the government currently holds 1,120 BTC in its Bitcoin Trust account. Back in mid-October, President Nayib Bukele announced spending four million US dollars from the Bitcoin trust on a new veterinary hospital.

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