The Data Flow – What the Latest Data Tells Us

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The Data Flow – What the Latest Data Tells Us

feries, SECO - State Secretariat for Economic Affairs .

Switzerland, Eurostat, GfK SE, FactSet. *Average of consumer Source: Jefferies, SECO - State Secretariat for Economic Affairs This note focuses purely on data from

confidence levels from all three countries which are reported Switzerland, Eurostat, GfK SE, FactSet. *Average of consumer

separately. confidence levels from all three countries which are reported Geberit's largest five markets (Germany,

separately. Switzerland, Benelux, Italy, Austria) which

Exhibit 3 - Although actual activity continued Exhibit 4 - Web hits to key distributor websites

to decline into May, future expectations saw a remained in YoY growth and saw a slight uptick collectively account for c.2/3 of group

small sequential improvement in Geberit's largest into May across all key countries (monthly web sales.

market, Germany (Germany ifo Business Climate hits to key trade and retail DIY websites, % YoY)

Index in Construction) 50%

0 40%

(5) 30%

(10)

(15) 20%

(20) 10%

(25)

(30) 0%

(35) (10%)

(40)

(45) (20%)

(50) May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26

Germany Switzerland Benelux Italy Austria May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 .

Business Climate* Business Situation Business Expectations Source: Jefferies, SimilarWeb

.

Source: Jefferies, ifo Institute. *The "Business Climate" series is

a transformed mean of the "Business Situation" and "Business

Expectations" series.

Exhibit 5 - Web hits to tradespeople search Exhibit 6 - While cost inflation remains at

websites also remained stable or growing YoY extraordinary levels, it has largely eased or at