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Villeroy & Boch AG: Villeroy & Boch raises the forecast for the financial year 2020

·3-min read

Villeroy & Boch AG / Key word(s): Change in Forecast
Villeroy & Boch AG: Villeroy & Boch raises the forecast for the financial year 2020

09-Oct-2020 / 15:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Villeroy & Boch raises the forecast for the financial year 2020

Mettlach, 09.10.2020 - In view of the recovery of the business in the summer months, the Management Board of Villeroy & Boch AG has today significantly raised its forecast for the financial year 2020. It now expects an operating result (EBIT) of € 30 - 35 million. The previously communicated target was to compensate for the losses of the 1st half of the financial year caused by the COVID-19 pandemic in the 2nd half and to achieve a positive operating result. Thanks to stringent cost management since the beginning of the COVID 19 pandemic and a significantly improved sales performance in the 3rd quarter, which was even higher than in the previous year, this target was achieved earlier than planned.

The Management Board expects the positive sales trend to continue in the traditionally strong 4th quarter and to be able to close the fiscal year with total sales revenues of at most 6% below the previous year.
 
The new forecast is based on the assumption that there will be no further significant measures by governments to contain the pandemic and associated negative effects on the economy.
 
Taking into account the positive business development in the 3rd quarter of 2020 and the continued high net liquidity, the Management Board and the Supervisory Board have decided to propose to the Annual General Meeting on 30 October 2020 a total dividend of € 0.55 per preferred share and EUR 0.50 per common share for fiscal year 2019, less the already paid advance payment on the distributable profits of EUR 0.20 per preferred share and EUR 0.15 per ordinary share, i.e. a further dividend payment of EUR 0.35 per share.
 
Note: The interim report for the third quarter of 2020 will be published as scheduled on 20 October 2020 and will contain detailed information on business performance in both divisions.


Contact:     
         

Katrin May
Head of PR
Tel.: +49 (0) 68 64 - 81 27 14
E-Mail: may.katrin@villeroy-boch.com
 
Susanne Reiter
Head of Corporate Treasury and Investor Relations
Tel.:  +49 (0) 68 64 81 12 27
E-Mail: reiter.susanne@villeroy-boch.com

 

09-Oct-2020 CET/CEST 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:

1140003


 

End of Announcement

DGAP News Service

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