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Villeroy & Boch AG: Villeroy & Boch achieves significant increase in sales and earnings in the first half of 2022

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DGAP-News: Villeroy & Boch AG / Key word(s): Quarterly / Interim Statement
Villeroy & Boch AG: Villeroy & Boch achieves significant increase in sales and earnings in the first half of 2022
20.07.2022 / 08:00
The issuer is solely responsible for the content of this announcement.

Press Release

Mettlach, 20 July 2022

  

Interim report on the second quarter of 2022

 Villeroy & Boch achieves significant increase in sales and earnings in the first half of 2022

  • Consolidated revenue rises 9.1 % to € 490.3 million in first half of year

  • Group result (EBIT) up 9.8 % year-on-year at € 41.3 million

  • Revenue and earnings forecast for 2022 confirmed (assuming no further deterioration in the geopolitical situation)

Consolidated revenue: € 490.3 million

In the first half of 2022, the Villeroy & Boch Group generated consolidated revenue (incl. licence income) of € 490.3 million, up € 40.7 million or 9.1 % on the same period of the previous year. Incoming orders increased in the first half of 2022, rising by € 23.7 million as against 31 December 2021 to € 210.5 million. The Bathroom & Wellness Division accounted for € 169.1 million, with the remaining € 41.4 million attributable to the Dining & Lifestyle Division.

EBIT: € 41.3 million

EBIT increased by 9.8 % year-on-year to € 41.3 million. This earnings growth was primarily attributable to the good revenue performance, which offset the additional costs resulting from the sharp rise in material and energy prices.

Division performance

The Bathroom & Wellness Division generated revenue of € 347.7 million in the first six months of the 2022 financial year, up 7.6 % on the same period of the previous year. Revenue growth was achieved in all business areas. Ceramic sanitary ware saw particularly strong revenue growth of € 12.2 million. The new products launched last year proved especially successful in the home market of Germany, while the Chinese market also saw good development. Despite the additional cost burden resulting from the sharp rise in material and energy prices, the Bathroom & Wellness Division therefore closed the first half of 2022 with an operating result (EBIT) of € 37.9 million (previous year: € 36.3 million) thanks to the positive revenue development in particular.

The Dining & Lifestyle Division generated revenue of € 140.9 million in the first half of 2022, an increase of 12.6 % or € 15.8 million on the same period of the previous year. With the exception of e-commerce, revenue growth was generated across all sales channels and all regions. The division continued on its growth path on the whole, albeit with shifts between the sales channels. Revenue at the Group’s own retail stores (€ +10.9 million), revenue with retail outlet partners (€ +4.6 million) and project business with hotel and restaurant customers (€ +6.2 million) all increased. This good revenue performance was driven by increased digitalisation in marketing and sales, a successful product range policy and the expansion of the communication strategy. On the back of the revenue growth, the Dining & Lifestyle Division recorded an operating result (EBIT) of € 4.9 million, up significantly on the previous year (€ 2.7 million).

Investments

The Villeroy & Boch Group invested € 10.3 million in intangible assets and property, plant and equipment in the first half of 2022. The Bathroom & Wellness Division accounted for € 5.8 million, with the remaining € 4.5 million attributable to the Dining & Lifestyle Division.

Investment activity in the Bathroom & Wellness Division concentrated on glazing lines at the sanitary ware plants in Hungary and Romania as well as new bathtub moulds in Belgium. The Dining & Lifestyle Division primarily invested in the maintenance and modernisation of the production facilities in Merzig and Torgau, as well as the acquisition of a photovoltaic plant for the Merzig site.

Outlook for 2022 as a whole

The market environment remains characterised by an unusually high degree of uncertainty. The high level of inflation at present, the risk of a recession and the impact of the COVID-19 pandemic, especially in China, are weighing on the outlook for the world economy.

Despite these uncertain general conditions, the Management Board of Villeroy & Boch AG is confident that it will be able to achieve the upper end of the forecast range for revenue, earnings and the operating return on net assets for 2022 as a whole thanks to the course of business in the first half of the year and the sustained high level of incoming orders.

However, this forecast is subject in particular to the assumption that the gas supply required for our sanitary ware production and our access to the necessary raw materials will not deteriorate significantly compared with the current situation.

 

Please find the complete Interim 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

 


20.07.2022 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:

1401275


 

End of News

DGAP News Service

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