Integrated annual report

The 2016 financial year was shaped by a positive environment in the construction industry and the integration of the ceramics business. Our very good results allowed us to further consolidate our position as the leading supplier of sanitary products in Europe. The positive development of the operating margins is attributable to synergies derived from the integration of the Sanitec business, volume growth and – in spite of the increase in the second half of the year – lower raw material prices.

Our excellent results allowed us to further consolidate our position as the leading supplier of sanitary products in Europe.