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

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.

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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 EUR 277.1 million (previous year:
    EUR 229.3 million) due to acquisition effects

* Operating EBIT up slightly by 0.4 % year-on-year at EUR 23.1 million

* Total assets increase by EUR 620.8 million to EUR 1,717.0 million

Consolidated revenue: EUR 277.1 million

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

Operating EBIT: EUR 23.1 million

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

Development in the divisions

The Bathroom & Wellness Division generated revenue of EUR 204.1 million in the
first quarter of 2024, up 35.4 % on the previous year (EUR 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 EUR 17.4 million in the first quarter, thereby
matching the previous year's level.

The Dining & Lifestyle Division generated revenue of EUR 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 EUR 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 EUR 4.0 million in property, plant and equipment and
intangible assets in the first quarter of 2024, EUR 3.1 million of which in
the Bathroom & Wellness Division and EUR 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


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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
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1902985 15.05.2024 CET/CEST