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VILLEROY & BOCH AG (FRA:VIB3) EQS-News: Villeroy & Boch consolidates Ideal Standard’s March figures for first time

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15/05/2024 08:00

EQS-News: Villeroy & Boch AG / Key word(s): Quarter Results
Villeroy & Boch consolidates Ideal Standard’s March figures for first time

15.05.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


 

Press Release

Mettlach, 15 May 2024

 

Interim report on the first quarter of 2024

Villeroy & Boch consolidates Ideal Standard’s March figures for first time
 

  • Consolidated revenue rises by 20.8 % to € 277.1 million (previous year: € 229.3 million) due to acquisition effects
  • Operating EBIT up slightly by 0.4 % year-on-year at € 23.1 million
  • Total assets increase by € 620.8 million to € 1,717.0 million

 

Consolidated revenue: € 277.1 million

The Villeroy & Boch Group generated consolidated revenue (including licence income) of € 277.1 million in the first quarter of 2024, € 47.8 million or 20.8 % higher than in the previous year as a result of acquisition effects (€ 229.3 million). Ideal Standard contributed € 57.1 million to consolidated revenue from 1 March 2024.

 

Operating EBIT: € 23.1 million

Operating EBIT of € 23.1 million was generated in the first quarter of 2024, slightly higher than in the previous year by 0.4 % (€ 23.0 million).

 

Development in the divisions

The Bathroom & Wellness Division generated revenue of € 204.1 million in the first quarter of 2024, up 35.4 % on the previous year (€ 150.8 million) as a result of acquisition effects. There was a consistently positive market response to new products featuring TwistFlush technology in particular. Revenue growth was reported in almost every business area – in particular in fittings and ceramic sanitary ware. The Bathroom & Wellness Division began 2024 with operating EBIT of € 17.4 million in the first quarter, thereby matching the previous year’s level.

 

The Dining & Lifestyle Division generated revenue of € 72.3 million in the first quarter of 2024, down by 7.0 % on the previous year. This was mainly reflected in revenue from our retail outlets where there was a decline in revenue, in particular as a result of an economic downturn in Korea and the persistently weak economic situation in the US. By contrast, growth in revenue was achieved in e-commerce and at retail outlets. The Dining & Lifestyle Division ended the quarter with operating EBIT of € 5.7 million, a slight increase on the previous year. The downturn in earnings due to revenue development was offset by cost savings.

 

Investments

The Group invested € 4.0 million in property, plant and equipment and intangible assets in the first quarter of 2024, € 3.1 million of which in the Bathroom & Wellness Division and € 0.9 million in the Dining & Lifestyle Division. In particular, investment activity in the Bathroom & Wellness Division included pressure casting systems in Thailand and Hungary plus new moulds for shower and bath tubs in Belgium and the Netherlands. Investment in the Dining & Lifestyle Division essentially included the modernisation of the production facilities in Merzig and Torgau, the acquisition of pressing tools and the modernisation of the Group’s retail stores.

 

Outlook for 2024 as a whole

The market environment continues to be characterised by a high degree of uncertainty.

The Management Board of Villeroy & Boch AG is still expecting a significant increase in revenue, operating EBIT and investment due to the acquisition. It is thus confirming its forecast for 2024 as a whole as published in the annual financial statements.

 

Please find the complete Report as a PDF-file for download here:

http://www.villeroyboch-group.com/en/investor-relations/publikationen.html

 

Contact:

Anabell Westrich

Corporate Communications

Tel: +49 (0)6864 81-1338

E-Mail: westrich.anabell@villeroy-boch.com

 



15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Villeroy & Boch AG
Saaruferstraße 1-3
66693 Mettlach
Germany
Phone: +49 (0)6864 81-0
E-mail: information@villeroy-boch.com
Internet: www.villeroy-boch.de
ISIN: DE0007657231, DE0007657207
WKN: 765723
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1902985

 
End of News EQS News Service

1902985  15.05.2024 CET/CEST

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