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Villeroy & Boch AG: Villeroy & Boch makes up ground in terms of revenue in strong third quarter - Seite 3

Outlook for 2020 as a whole
Following the significant impact of the coronavirus pandemic in the second quarter of 2020 in particular, the strong performance in the third quarter means the Management Board of Villeroy & Boch AG considers the current economic situation of the Group to be broadly satisfactory once again. In addition to the worldwide uncertainty due to the pandemic, global trade conflicts and the threat of a no-deal Brexit are weighing on the outlook.
"In light of the encouraging recovery in our business in the summer months, we are raising our forecast for the 2020 financial year substantially. We expect the positive revenue trend to continue in the traditionally strong fourth quarter provided the rise in coronavirus infections does not have a negative impact on the economy," commented Frank Göring, CEO of Villeroy & Boch AG.
The Management Board is now forecasting an operating result (EBIT) of € 30-35 million. The previously announced target was to offset the losses recorded in the first half of the year due to the COVID-19 pandemic in the second half of the year and report a positive operating result. Thanks to stringent cost management since the onset of the COVID-19 pandemic and significantly improved revenue performance in the third quarter, with revenue even increasing year-on-year, this target was achieved sooner than expected.
The new forecast is subject to the assumption that governments will not take any further significant measures to curb the pandemic with a corresponding negative impact on the economy.

Please find the complete Interim Report as a PDF-file for download here:
http://www.villeroyboch-group.com/en/investor-relations/publications.h ...


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20.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language:	English
Company:	Villeroy & Boch AG
	Saaruferstraße 1-3
	66693 Mettlach
	Germany
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.villeroy-boch.de
ISIN:	DE0007657231, DE0007657207
WKN:	765723
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1141648