DGAP-News

Villeroy & Boch AG: Villeroy & Boch makes up ground in terms of revenue in strong third quarter - Seite 2

Development in the divisions
In the Bathroom and Wellness Division, revenue amounted to € 138.4 million in the third quarter of 2020, up an unexpected 6.5 % on the previous year (€ 130.0 million). Encouragingly, this development was reflected in all business areas, particularly wellness (+16.7 %) and the business area with the highest revenue, ceramic sanitary ware (+4.6 %). On the back of the strong third quarter, the Bathroom and Wellness Division reported revenue of € 383.8 million in the first nine months of the 2020 financial year (previous year: € 401.6 million), down just 4.4 % on the previous year (after the first half of the year: -9.7 %). In other words, the division substantially offset the revenue deficit as of the end of the third quarter.

The Tableware Division also enjoyed extremely encouraging development on the whole in the third quarter. Quarterly revenue increased by 8.0 % year-on-year to € 69.1 million (previous year: € 64.0 million), allowing the revenue deficit from the first half of the year due to the coronavirus (-21.7 %) to be reduced to -11.5 %. The Tableware Division closed the first nine months of the 2020 financial year with revenue of € 163.0 million (previous year: € 184.1 million). After 26.0 % in the first half of the year, the encouraging revenue growth in the Group's e-commerce activities increased further to 30.9 % as of 30 September 2020. By contrast, revenue from retail stores (-23.5 %) and project business with hotel and restaurant clients (-47.6 %) in particular was still down on the previous year due to pandemic-related factors.

Investment volume in the first nine months of 2020: € 10.7 million
The Group invested € 10.7 million in property, plant and equipment and intangible assets in the first nine months of the 2020 financial year (previous year: € 17.9 million). The Bathroom and Wellness Division accounted for € 7.0 million, with the remaining € 3.7 million attributable to the Tableware Division. In the Bathroom and Wellness Division, new facilities were acquired for the sanitary ware plants in Thailand and Hungary in particular. Investment in the Tableware Division related primarily to the maintenance and modernisation of the logistics centre in Merzig and acquisitions for production in Merzig.