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Villeroy & Boch AG
Earnings Release • Apr 24, 2017
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Earnings Release
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News Details
Corporate | 24 April 2017 08:00
Villeroy & Boch AG: Positive start to 2017: Villeroy & Boch records revenue and earnings growth
DGAP-News: Villeroy & Boch AG / Key word(s): Quarter Results/Interim Report
24.04.2017 / 08:00
The issuer is solely responsible for the content of this announcement.
Press Release
Mettlach, 24 April 2017
Interim report on the first quarter of 2017
Positive start to 2017: Villeroy & Boch records revenue and earnings growth
- Consolidated revenue up 1.4 % year-on-year to EUR 201.2 million
- EBIT climbs 5.0 % to EUR 10.5 million
- Growth and earnings targets for 2017 as a whole confirmed in light of positive order situation
Revenue development: up 1.4 % on previous year
In the first quarter of the 2017 financial year, the Villeroy & Boch Group increased its revenue by 1.4 % year-on-year to EUR 201.2 million. In the Group’s home market of Germany, revenue rose by EUR 1.4 million or 2.3 % to EUR 62.0 million. At EUR 139.2 million, revenue outside Germany was up 1.0 % on the previous year. Orders on hand amounted to EUR 94.0 million as at 31 March 2017, a significant increase of EUR 20.1 million compared with the start of the year. Of this figure, EUR 79.0 million related to the Bathroom and Wellness Division and EUR 15.0 million to the Tableware Division.
EBIT improves by 5.0 % to EUR 10.5 million
EBIT increased by 5.0 % to EUR 10.5 million in the first three months of the financial year. This was due in particular to strong revenue performance in the Bathroom and Wellness Division.
Development by division
At EUR 138.4 million, revenue in the Bathroom and Wellness Division in the first quarter of 2017 was up 7.1 % on the same period of the previous year.
In Germany, revenue increased by 8.6 % to EUR 43.2 million after the first three months of the current financial year. Substantial revenue growth was also recorded in Norway (+22.4 %), Finland (+15.8 %), the Netherlands (+8.7 %) and the United Kingdom (+7.3 %). Outstanding revenue growth of 60.7 % in China resulted from strong demand for ViClean shower toilets, among other things. Revenue in France declined by 2.8 %.
The Tableware Division generated revenue of EUR 62.8 million in the first quarter of 2017, down 9.3 % on the previous year. Revenue development was affected by the strategy of adopting a pronounced focus on higher-margin trade channels, which was initiated in 2016 with the aim of improving revenue quality in the long term. Revenue of EUR 18.8 million was generated in Germany (-9.9 %). Revenue also declined in the USA (-10.8 %) and France (-8.8 %). By contrast, revenue in the United Kingdom increased by 4.6 % on a constant currency basis in the United Kingdom, although the depreciation of the pound sterling meant revenue was down 6.0 % year-on-year in nominal terms. China (+12.6 %) and Poland (+11.6 %) enjoyed notable revenue growth.
Investment volume in the first quarter of 2017: EUR 3.0 million
The Villeroy & Boch Group made investments totalling EUR 3.0 million in the first quarter of 2017 (previous year: EUR 2.4 million). Around threequarters of the investment volume related to the Bathroom and Wellness Division, which invested in new facilities for the production site in Mettlach and the optimisation of the logistics centre in Losheim in particular. Investment activity in the Tableware Division primarily related to new production tools.
Outlook for 2017 as a whole
For 2017 as a whole, in light of the positive order situation, the company expects to increase its consolidated revenue by between 3 % and 5 %, accompanied by EBIT growth of 5 % to 10 %.
Please find the complete Interim Report as a PDF-file for download here:
http://www.villeroyboch-group.com/en/investor-relations/publications.html
Further inquiry note:
Katrin May
Head of PR
Tel: (+49) 6864 81-2714
Mail: [email protected]
or
Nicole Hofmann
Corporate Communications
Tel: (+49) 6864 81-1365
Mail: [email protected]
24.04.2017 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.
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| Language: | English |
| Company: | Villeroy & Boch AG |
| Saaruferstraße 1-3 | |
| 66693 Mettlach | |
| Germany | |
| Phone: | +49 (0)6864 81-0 |
| E-mail: | [email protected] |
| Internet: | www.villeroy-boch.de |
| ISIN: | DE0007657231, DE0007657207 |
| WKN: | 765723 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |