18.04.2019 Villeroy & Boch AG  DE0007657231

DGAP-News: Villeroy & Boch AG: First quarter characterised by non-recurring effects


 

DGAP-News: Villeroy & Boch AG / Key word(s): Interim Report/Quarter Results
Villeroy & Boch AG: First quarter characterised by non-recurring effects

18.04.2019 / 08:00
The issuer is solely responsible for the content of this announcement.


Press Release
Mettlach, 18 April 2019

Interim report on the first quarter of 2019
First quarter characterised by non-recurring effects

  • Consolidated revenue (EUR 197.7 million) and operating result (EUR 8.5 million) down on strong prior year quarter due to temporary effects in the Bathroom and Wellness Division
  • Positive business performance in the Tableware Division
  • Revenue and earnings targets for 2019 as a whole confirmed

Consolidated revenue: EUR 197.7 million
The Villeroy & Boch Group generated revenue of EUR 197.7 million in the first quarter of 2019. Excellent revenue growth in the Tableware Division (up 6.2 %) was offset by the weak start to the year in the Bathroom and Wellness Division, which was affected by temporary non-recurring effects. However, the significant upturn in incoming orders in the first three months of 2019 caused orders on hand to pick up by EUR 13.0 million to EUR 72.8 million against 31 December 2018. Of this figure, EUR 55.6 million related to the Bathroom and Wellness Division and EUR 17.2 million to the Tableware Division.

EBIT: EUR 8.5 million
EBIT fell by EUR 2.6 million to EUR 8.5 million in the first quarter of 2019 on account of declining revenue.

Division performance
The Bathroom and Wellness Division generated revenue of EUR 131.4 million in the first three months of the financial year (previous year: EUR 147.2 million). The EUR 15.8 million decline in revenue primarily reflects temporary non-recurring effects, as it was not possible in the reporting period to achieve the levels of the first quarter of 2018, which was exceptionally positive thanks to processing supply backlogs resulting from changing the central warehouse software at the end of 2017. These effects resulted in similar revenue declines in key markets in the EMEA region (Europe, Middle East, Africa), totalling a fall of 8.4 %. Abroad, changes to terms of payment brought about a shift in revenue, with an impact of EUR -5.4 million. Nonetheless, a considerable upturn in incoming orders makes the company confident about the further performance of the Bathroom and Wellness Division over the course of the year.

The Tableware Division achieved revenue of EUR 65.5 million in the first quarter, up 6.2 % on the prior year's figure. While revenue declined in Russia (down 33.9 %) and northern Europe (down 8.8 %), revenue picked up sharply in key markets including Germany (up 6.7 %) and the US (up 28.3 %). In the US, this good performance was driven in particular by project business with hotels and restaurants. E-commerce business also performed well, climbing 22.9 % in the EMEA region.

Investment volume: EUR 4.2 million
The Villeroy & Boch Group invested EUR 4.2 million in the first three months (previous year: EUR 4.8 million), of which the Bathroom and Wellness Division accounted for EUR 3.6 million. This focused on investments in new facilities for ceramics factories in Thailand and France. Investments in the Tableware Division were essentially used for new facilities and modernisation measures at the production sites in Merzig and Torgau.

Outlook for 2019 as a whole
Due to the impact of non-recurring effects on business in the first three months and the return to growth in incoming orders, the Management Board of Villeroy & Boch AG is confident that the revenue and result forecast (rise of 3 % to 5 % in each case) can be achieved in 2019. This works on the company's continued assumption of moderate global growth, even though momentum is slowing again at present. In particular, the company considers revised economic forecasts and increasing fears of a recession in the euro area as posing risks.
Regarding the sale of a former plant property in Luxembourg, which has the potential to generate high eight-figure earnings, Villeroy & Boch AG entered exclusive negotiations with an investor in February of this year and expect this to be completed in the second half of 2019.

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

Janna Knörck
Corporate Communications
Tel: (+49) 6864 81-2896
Mail: [email protected]



18.04.2019 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.

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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
EQS News ID: 801353

 
End of News DGAP News Service

801353  18.04.2019 

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 803,80 820,10 836,50 853,10 833,30 800,90 869,00
EBITDA1,2 71,00 75,40 76,00 77,10 92,70 86,20 97,50
EBITDA-Marge3 8,83 9,19 9,09 9,04 11,12 10,76 11,22
EBIT1,4 43,50 47,60 49,80 53,60 51,00 40,70 48,00
EBIT-Marge5 5,41 5,80 5,95 6,28 6,12 5,08 5,52
Jahresüberschuss1 27,30 29,10 29,80 33,90 80,40 22,90 26,00
Netto-Marge6 3,40 3,55 3,56 3,97 9,65 2,86 2,99
Cashflow1,7 34,10 77,90 41,00 2,10 46,30 136,50 59,00
Ergebnis je Aktie8 1,06 1,13 1,16 1,30 3,06 0,88 0,97
Dividende8 0,49 0,53 0,57 0,60 0,55 0,55 0,60
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Villeroy & Boch VZ
WKN Kurs in € Einschätzung Börsenwert in Mio. €
765723 20,600 Kaufen 578,65
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
18,07 12,95 1,41 17,14
KBV KCV KUV EV/EBITDA
2,48 4,24 0,72 6,71
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,55 0,55 2,67 26.03.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
22.04.2021 20.07.2021 20.10.2021 17.02.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
11,83% 30,28% 43,06% 84,75%
    
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Konsumgüter , 765723 , VIB3 , XETR:VIB3