DGAP-News

Villeroy & Boch AG: 2020 financial year: Consolidated revenue of € 800.9 million, down only -3.9 % on previous year despite COVID-19 pandemic - Seite 2

The Tableware Division generated revenue of € 259.2 million in the 2020 financial year, down by € 17.3 million or 6.3 % on the previous year (on a constant currency basis: -5.9 %). The second half of the year was very positive for the Tableware Division as well. The revenue shortfall from the first half of the year (-21.7 %) as a result of the global retail closures during the lockdown was reduced to -6.3 %. The biggest growth driver on almost all relevant markets was e-commerce activities (+46.6 %). The decision to focus on this growing channel, combined with greater investment in personnel, IT structures and logistics, as well as the enhanced professionalism this entailed, paid off significantly. Around 30.6 % (previous year: 19.6 %) of the Tableware Division's total revenue across all regions is accounted for by e-commerce activities.

Orders on hand
The Villeroy & Boch Group's orders on hand more than doubled year-on-year as at 31 December 2020 (from € 44.8 million to € 100.8 million). The Bathroom and Wellness Division accounted for € 85.1 million (previous year: € 35.3 million) and the Tableware Division for € 15.7 million (previous year: € 9.5 million).

Investments
At € 19.9 million in total (previous year: € 31.6 million), investments in property, plant and equipment and intangible assets were significantly lower in the 2020 financial year than in the previous year on account of investment restraint due to COVID-19. It had originally been planned to increase investments moderately as against the previous year.

Dividend
At the General Meeting of Shareholders on 26 March 2021, the Supervisory Board and the Management Board will propose that the unappropriated surplus of Villeroy & Boch AG be used to distribute a dividend of € 0.55 per preference share and € 0.50 per ordinary share.

Assessment of the company's position
The 2020 business year was marked by the COVID-19 crisis and the associated economic slump. Overall, the Management Board considers the economic situation of the Group to be satisfactory. "After a very difficult first half of 2020, our business developed much better than expected in the second half of the year. In combination with our strict cost management, we have thus achieved an exceptionally good result at the previous year's level, even in the pandemic," explains Frank Göring, CEO of Villeroy & Boch AG.