Villeroy & Boch Improves Operating Result by 8.0 %
Consolidated revenue up 1.7 % on a constant currency basis and 1.4 % in nominal terms to € 602.7 million.
In the first nine months of the 2017 financial year, the Villeroy & Boch increased its revenue by 1.7 % year-on-year on a constant currency basis, i.e. assuming unchanged exchange rates against the previous year. Revenue increased by 1.4 % in nominal terms to € 602.7 million. Revenue in Germany was down slightly on the previous year at € 175.6 million (-0.7 %), while revenue outside Germany rose by 2.2 % to € 427.1 million. Orders on hand amounted to € 119.9 million as at 30 September 2017, a significant increase of € 46.0 million as against 1 January 2017. Orders on hand in the Bathroom and Wellness Division reached another new record high of € 102.9 million.
Operating EBIT increased by € 1.8 million or 8.0 % to € 24.4 million in the first nine months of the financial year. Including the non-recurring income of € 0.1 million (previous year: € 1.2 million) generated from the real estate project in Gustavsberg (Sweden), EBIT totalled € 24.5 million (previous year: € 23.8 million). At € 417.6 million, revenue in the Bathroom and Wellness Division in the first three quarters of 2017 was up 5.6 % on the same period of the previous year. Revenue increased by 6.0 % on a constant currency basis, with the main negative exchange rate effects resulting from the pound sterling and the Swedish krona.
In Germany, the steady growth path recorded in recent years continued, thanks among other things to strong demand for bathroom furniture (+2.6 %). The outstanding revenue growth in China (+52.7 %) was driven by rising sales in all product segments. In the Gulf states, revenue increased by 46.1 % on the back of project business with hotels and restaurants. Significant revenue growth was also generated in Norway (+13.3 %) and Finland (+12.0 %). By contrast, revenue declined in France (-5.6 %) and the United Kingdom (-8.4 %). The latter was attributable to exchange rate effects, with revenue increasing by 0.9 % on a constant currency basis.