20.04.2016
Villeroy & Boch AG DE0007657231
DGAP-News: Villeroy & Boch AG: Villeroy & Boch starts new fiscal year with revenue and earnings growth
DGAP-News: Villeroy & Boch AG / Key word(s): Quarter Results/Interim Report
Villeroy & Boch AG: Villeroy & Boch starts new fiscal year with revenue and
earnings growth
20.04.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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Press Release
Mettlach, 20 April 2016
Interim report on the first quarter of 2016:
Villeroy & Boch starts new fiscal year with revenue and earnings growth
* Consolidated revenue up 1.6 % to EUR 198.4 million
* Operating EBIT improves by 5.3 % to EUR 10.0 million
* Growth and earnings targets for 2016 as a whole confirmed
Revenue performance: +1.6 % year-on-year
In the first three months of the 2016 financial year, the Villeroy & Boch
Group increased its revenue by 1.6 % year-on-year to EUR 198.4 million. On
a constant currency basis, i.e. assuming unchanged exchange rates compared
with the previous year, revenue amounted to EUR 199.1 million (+2.0 %).
Revenue in the Group's home market of Germany increased by EUR 0.6 million
or 1.0 % to EUR 60.6 million. Revenue outside Germany rose by 1.9 %
year-on-year to EUR 137.8 million. Orders on hand amounted to EUR 77.2
million as at 31 March 2016, an increase of EUR 13.9 million compared with
the start of the year. The Bathroom and Wellness Division accounted for EUR
58.5 million of this figure.
Operating EBIT up 5.3 % to EUR 10.0 million
Operating EBIT increased by 5.3 % to EUR 10.0 million in the first three
months of the financial year.
Development in the divisions
The Bathroom and Wellness Division generated revenue of EUR 129.2 million
in the first quarter of 2016, an increase of 4.4 % as against the previous
year. Revenue rose by 5.4 % on a constant currency basis. Significant
negative exchange rate effects resulted from the development of the Russian
rouble, the Mexican peso and the Norwegian krone.
In the Group's home market of Germany, revenue increased by 2.8 % to EUR
39.7 million in the first quarter. Significant revenue growth was also
recorded in China (+25.3 %), the United Kingdom (+24.8 %), the Netherlands
(+21.3 %) and Sweden (+18.8 %). Revenue in France (-5.7 %) and Italy (-4.8
%) declined due to the sustained weakness of the construction industry. The
continued difficult political and economic conditions and the weakness of
the rouble meant that revenue in Russia fell by 33.0 %.
The Tableware Division reported revenue of EUR 69.2 million in the first
quarter of 2016. This represents a year-on-year decrease of 3.2 %, but
while the prior-year figure included revenue from project business with
hotels and restaurants and business with secondary brands, comparable
revenue is not expected to be generated until the coming quarters of 2016.
Revenue declined by 3.9 % on a constant currency basis. Significant
positive exchange rate effects resulted in particular from the development
of the US dollar.
Revenue of EUR 20.9 million was generated in the Group's home market of
Germany (-1.9 %). Revenue growth was also recorded in Belgium (+16.6 %),
the Netherlands (+14.3 %) and the Eastern Europe region (+12.7 %) in
particular. The division's e-commerce business enjoyed positive performance
across all sales markets (+19.8 %). Downturns in revenue were recorded in
Japan (-23.0 %), Italy (-10.7 %) and the USA (-8.9 %).
Investment volume in the first quarter of 2016: EUR 2.4 million
The Villeroy & Boch Group made investments totalling EUR 2.4 million in the
first quarter of 2016 (previous year: EUR 2.9 million). Two-thirds (66.7 %)
of this figure related to the Bathroom and Wellness Division, which
invested in new facilities at the production sites in Germany, Romania,
Thailand and the Netherlands. Investments in the Tableware Division related
primarily to the newly opened retail stores in Helsinki (Finland) and
Ringsted (Denmark).
Outlook for 2016 as a whole
"We are satisfied with our start to the 2016 financial year on the whole.
Assuming continued moderate growth in the global economy and based on the
significant increase in our orders on hand, we are confirming our revenue
and earnings guidance for the full year," commented Frank Göring, CEO of
Villeroy & Boch AG. This means that the company is continuing to forecast
consolidated revenue growth of between 3 % and 6 % accompanied by an
increase in operating EBIT of between 5 % and 10 %.
Please find the complete Interim Report as a PDF-file for download here:
http://www.villeroyboch-group.com/en/investor-relations/reports.html
Further inquiry note:
Annette Engelke
Head of Press & Public Relations
Tel: (+49) 6864 81-1397
Fax: (+49) 6864 81-71331
Mail: [email protected]
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20.04.2016 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,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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
WKN: 765723
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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455663 20.04.2016
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