===
EQS-News: Villeroy & Boch AG / Key word(s): Quarter Results
Villeroy & Boch consolidates Ideal Standard's March figures for first time
2024-05-15 / 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 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
2024-05-15 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.
Archive at www.eqs-news.com
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 2024-05-15 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1902985&application_name=news
END) Dow Jones Newswires
May 15, 2024 02:01 ET (06:01 GMT)