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Villeroy & Boch presents Ideal Standard’s figures for the first time after acquisition

The Villeroy & Boch Group has consolidated Ideal Standard's March figures for the first time after its acquisition. The group generated consolidated revenue (including licence income) of €277.1 million in the first quarter of 2024, €47.8 million or 20.8 % higher than in the previous year as a result of acquisition effects (€229.3 million). Ideal Standard contributed €57.1 million to consolidated revenue from 1 March 2024.

'The market environment continues to be characterised by a high degree of uncertainty,' the Management Board of Villeroy & Boch says. 'We're still expecting a significant increase in revenue, operating EBIT and investment due to the acquisition. It is thus confirming its forecast for 2024 as a whole as published in the annual financial statements.'

Operating EBIT of €23.1 million was generated in the first quarter of 2024, slightly higher than in the previous year by 0.4 % (€23.0 million).

Development in the divisions
The Bathroom & Wellness Division generated revenue of € 204.1 million in the first quarter of 2024, up 35.4 % on the previous year (€ 150.8 million) as a result of acquisition effects. There was a consistently positive market response to new products featuring TwistFlush technology in particular. Revenue growth was reported in almost every business area – in particular in fittings and ceramic sanitary ware. The Bathroom & Wellness Division began 2024 with operating EBIT of € 17.4 million in the first quarter, thereby matching the previous year's level.

The Dining & Lifestyle Division generated revenue of € 72.3 million in the first quarter of 2024, down by 7.0 % on the previous year. This was mainly reflected in revenue from our retail outlets where there was a decline in revenue, in particular as a result of an economic downturn in Korea and the persistently weak economic situation in the US. By contrast, growth in revenue was achieved in e-commerce and at retail outlets. The Dining & Lifestyle Division ended the quarter with operating EBIT of € 5.7 million, a slight increase on the previous year. The downturn in earnings due to revenue development was offset by cost savings.

The Group invested € 4.0 million in property, plant and equipment and intangible assets in the first quarter of 2024, € 3.1 million of which in the Bathroom & Wellness Division and € 0.9 million in the Dining & Lifestyle Division. In particular, investment activity in the Bathroom & Wellness Division included pressure casting systems in Thailand and Hungary plus new moulds for shower and bath tubs in Belgium and the Netherlands. Investment in the Dining & Lifestyle Division essentially included the modernisation of the production facilities in Merzig and Torgau, the acquisition of pressing tools and the modernisation of the Group's retail stores.

More information:
Villeroy & Boch

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