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Villeroy & Boch AG: Excellent business performance in first quarter - Villeroy & Boch raises revenue and earnings forecasts for 2021

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DGAP-News: Villeroy & Boch AG / Key word(s): Quarter Results
22.04.2021 / 08:00
The issuer is solely responsible for the content of this announcement.

 

Press Release
Mettlach, 22 April 2021

Interim report on the first quarter of 2021
Excellent business performance in first quarter - Villeroy & Boch raises revenue and earnings forecasts for 2021

Consolidated revenue: € 223.3 million
The Villeroy & Boch Group generated revenue of € 223.3 million (including licence income) in the first quarter of 2021, an increase of € 40.9 million (22.4 %) as against the same period of the previous year. On the one hand, the first quarter of the previous year was already impacted by the initial effects of the COVID-19 pandemic, while on the other the Group is currently increasingly benefiting from the trend towards home and bathroom renovation and refurbishment as people are choosing to beautify their homes.

Incoming orders increased in the first quarter of 2021, rising by € 31.2 million as against 31 December 2020 to € 132.0 million. € 108.7 million (31 December 2020: € 85.1 million) of this figure relates to the Bathroom and Wellness Division, while € 23.3 million (31 December 2020: € 15.7 million) relates to the Dining & Lifestyle Division.

EBIT: € 18.6 million
EBIT climbed to € 18.6 million (previous year: € 4.3 million) in the first quarter of 2021, mainly thanks to the increase in revenue.

Development in the divisions
The Bathroom and Wellness Division generated revenue of € 159.3 million in the first quarter of 2021 (previous year: € 125.8 million). Revenue growth was generated in all business areas. The rise in revenue of € 33.5 million mainly took place in ceramic sanitary ware (€ +20.3 million) and the wellness business area (€ +6.1 million). The Bathroom and Wellness Division began the current financial year with EBIT of € 16.6 million (previous year: € 8.7 million) thanks to strong revenue in the first quarter.

The first quarter of 2021 was highly positive for the Dining & Lifestyle Division as well. The division generated revenue of € 63.3 million (previous year: € 56.0 million), € 7.3 million higher than in the previous year, though the comparative period was already being affected by the far-reaching closure of retail stores on account of the COVID-19 crisis from the middle of March 2020. The biggest growth driver on almost all relevant markets was e-commerce activities (€ +12.1 million). An increase in revenue of € 5.3 million was generated with retail outlet partners. The Dining & Lifestyle Division ended the quarter with operating EBIT of € 2.0 million, up € 6.4 million year-on-year. This was mainly thanks to the increase in revenue and the savings at the retail stores affected by the lockdown measures.

Investments
The Villeroy & Boch Group invested € 3.7 million in property, plant and equipment and intangible assets in the first quarter of 2021 (previous year: € 3.5 million). The Bathroom and Wellness Division accounted for € 2.7 million, with the remaining € 1.0 million attributable to the Dining & Lifestyle Division. In the Bathroom and Wellness Division, new facilities were acquired for the sanitary ware plants in Hungary and France, as were tools for ViClean production. Investment in the Dining & Lifestyle Division essentially included the maintenance and modernisation of the logistics centre in Merzig, new acquisitions of pressing tools and the energy optimisation of a kiln.

Outlook for 2021 as a whole
The recovery of the global economy is expected to accelerate over the course of 2021 as infection risks diminish and more progress is made with vaccinations. The strength of the economic recovery is expected to vary considerably from country to country. On the basis of the extremely good performance in the first quarter of 2021 and the high order levels in both divisions, the forecast for consolidated revenue and operating earnings has been raised for the year as a whole. Under the current economic circumstances, an increase in revenue of between 5 % and 10 % (previously: 3 % to 5 %) and very strong growth in the operating Group result are projected. In the second half of the year in particular, revenue momentum is expected to slow as compared to the previous year, which had been characterised by catch-up effects.

The Management Board of Villeroy & Boch AG considers the economic position of the Group to be positive on the whole. "We have had an extraordinarily strong start to 2021. Business performance in the first quarter has been outstanding. Demand for our products has increased significantly. We are currently benefiting especially from the trend towards home renovation and refurbishment," said Frank Göring, CEO of the Villeroy & Boch Group.

Please find the complete Interim Report as a PDF-file for download here:
http://www.villeroyboch-group.com/en/investor-relations/publikationen.html

Contact:
Katrin May
Head of PR
Tel: +49 (0)6864 81-2714
E-Mail: may.katrin@villeroy-boch.com

Anabell Westrich
Corporate Communications
Tel: +49 (0)6864 81-1338
E-Mail: westrich.anabell@villeroy-boch.com

 

 


22.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

1187371


 

End of News

DGAP News Service

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