Villeroy & Boch: Annual review in a difficult market context

Villeroy & Boch faced difficult market conditions in 2023, recording a 7.5% decline in consolidated revenue on a constant currency basis. Nevertheless, the company managed to increase its EBIT margin to 9.9%, up from 9.7% the previous year. The group's result was 61.0 million euros, compared to 71.5 million euros the previous year.

Revenue in the EMEA region saw a notable decline. However, a slight increase in revenue was observed in the Asia/Pacific region thanks to a good backlog of projects. Despite the overall decline in revenue, the Dining & Lifestyle division recorded only a slight decline of 2.4% thanks to significant growth in the premium segment and the group's own channels.

Regarding investments, 41.0 million euros were allocated, mainly focused on the bathroom and wellness division for the modernization and automation of production. In addition, the company invested in a new solar installation in Hungary and in reducing the gas consumption of the ovens in Merzig.

A dividend proposal of 1.05 euros per preferred share and 1.00 euros per ordinary share will be presented at the General Meeting of Shareholders. For 2024, despite continuing difficult economic conditions, Villeroy & Boch expects a significant increase in turnover, operating profit and investments with the acquisition of the operating companies of the Ideal Standard group.