Villeroy & Boch achieves consolidated revenue in excess of € 1 billion for the first time

• Consolidated revenue of € 1,007.8 million (previous year: € 650.6 million) exceeds € 1 billion for the first time
• Operating EBIT up 11.6 % year-on-year at € 64.5 million
• Net profit, influenced by acquisition-related one-off effects and financing costs, amounted to € 5.6 million, significantly lower than in the previous year (€ 37.7 million)
• Forecast for revenue, operating result (EBIT) and investments for 2024 as a whole confirmed

Consolidated revenue: € 1,007.8 million

In the first nine months of the 2024 financial year, the Villeroy & Boch Group generated revenue (including licence income) of € 1,007.8 million, exceeding the € 1 billion mark for the first time. As a result of the acquisition, the Group was up € 357.2 million or 54.9 % on the same period of the previous year. Ideal Standard contributed revenue of € 364.6 million to Group revenue from 1 March 2024.

Operating EBIT: € 64.5 million

In the first three quarters of 2024, operating EBIT (earnings before interest and taxes) of € 64.5 million was achieved, which was 11.6 % higher than in the previous year.

Consolidated net profit: € 5.6 million

Due to the influence of acquisition-related one-off effects and financing costs, the consolidated net profit amounts to € 5.6 million and is significantly lower than in the previous year.

Development in the divisions

The Bathroom & Wellness Division generated revenue of € 799.5 million in the first nine months of the financial year, an increase of 83.5 % on the previous year due to acquisitions. The Ideal Standard companies contributed revenue of € 364.6 million since 1 March 2024. Despite the continued subdued development of the construction sector, the previous year's revenue level was reached when adjusted for acquisitions. The largest revenue increases were achieved in the sanitary ceramic and fittings business areas. The Bathroom & Wellness Division generated an operating profit (EBIT) of € 52.3 million in the first nine months of the 2024 financial year, an increase of 14.4 % over the previous year.

The Dining & Lifestyle Division generated revenue of € 206.2 million, down 2.9 % or € 6.1 million on the previous year, primarily due to the cyclically weak consumer demand. In e-commerce, sales increased slightly compared to the previous year. In the company's own retail stores, a stable sales performance at the previous year's level was achieved. By contrast, sales declined in concession shops and at stationary retail partners. The Dining & Lifestyle Division closed with an operating result (EBIT) of € 12.2 million, slightly above the previous year.

Investments

In the period from January to September 2024, investments in intangible assets and property, plant and equipment totalling € 31.0 million were made, of which € 26.7 million was attributable to the Bathroom & Wellness Division and € 4.3 million to the Dining & Lifestyle Division. The additions at the date of initial consolidation (29 February 2024) in connection with the acquisition of Ideal Standard are not included in the above figures.

Outlook for 2024 as a whole

The Management Board of Villeroy & Boch AG continues to expect a significant, acquisition-related increase in revenue, operating result (EBIT) and investments. It thus confirms its forecast for 2024 as a whole made in connection with the publication of the annual financial statements.