on Villeroy & Boch AG (isin : DE0007657231)
Villeroy & Boch Sees Revenue Growth Following Ideal Standard Acquisition
Villeroy & Boch AG reported a 20.8% increase in consolidated revenue for the first quarter of 2024, totaling €277.1 million. This growth is attributed to the recent acquisition of Ideal Standard, which contributed €57.1 million since March 1, 2024. Operating EBIT for the quarter was slightly up by 0.4%, reaching €23.1 million.
The Bathroom & Wellness Division saw a notable increase of 35.4% in revenue, influenced by successful new products like the TwistFlush technology, reaching €204.1 million. However, the Dining & Lifestyle Division experienced a 7% decline in revenue, totaling €72.3 million, primarily due to economic downturns in Korea and the United States.
The company invested €4.0 million in the first quarter across both divisions, focusing on upgrading production facilities and retail stores. Despite the uncertain market environment, Villeroy & Boch's Management Board anticipates continued revenue growth and operational improvements throughout 2024 due to this strategic acquisition.
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