Villeroy & Boch

EANS-News: Villeroy & Boch AG
interim report on the first half of 2012 (with document)


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6-month report

Subtitle: Revenue and income up in difficult economic environment

Mettlach, 23 July 2012 (euro adhoc) - Revenue in H1 up slightly year on year at
EUR363.2 million
- EBIT improves by 12% as against previous year to EUR11.9 million
- Economic environment deteriorates further

Revenue up slightly despite difficult economic environment

In the first half of 2012, the Villeroy & Boch Group generated revenue of
EUR363.2 million compared with EUR362.4 million in the same period of the
previous year.

Global economic development remained uneven. The risks as a result of the crisis
of debt and confidence in the euro zone have again increased. Despite this, in
the first half of 2012 revenue increased slightly year on year. Revenue of
EUR97.3 million was generated on the German market, an improvement of EUR3.2
million or 3%. Revenue outside Germany was EUR265.9 million, slightly down on
the prior-year level. 
 
Increased orders on hand

Orders on hand totalled EUR57.2 million as at 30 June 2012. Adjusted for the
extraordinary order in the Tableware Division in the previous year, consolidated
orders on hand increased by 3%.

EBIT significantly improved (12%)

Operating earnings before interest and taxes (EBIT) amounted to EUR11.9 million
in the first half of 2012, up EUR1.3 million or around 12% on the previous year.

The extraordinary income from the sale of the sanitary ceramic plant in
Saltillo, Mexico, from the first quarter is partially offset by the expenses for
the expansion of activities in the growth markets of Russia and China.

Development in the divisions

In the first half of 2012, the Bathroom and Wellness Division generated revenue
of EUR245.3 million, up 1% or EUR3.5 million on the previous year. 

There were differences in terms of regional revenue development. In the second
quarter, the above-average revenue growth in Russia and Germany continued, with
year-on-year growth rates of 35% and 12% respectively. This was also seen
alongside a downturn in revenue in Mexico, the sale of the plant in Saltillo
resulting in a targeted withdrawal from low-margin project business. 

The Tableware Division generated revenue of EUR117.9 million in the first half
of 2012, down 2% year on year. 

This was due to the ongoing reluctance among retailers to place orders,
particularly in Germany (-11%). Market development was similarly difficult in
Australia (-12%). By contrast, there was encouraging revenue growth in Russia
(+21%), Canada (+14%) and Scandinavia (+9%).

Investments 

The Villeroy & Boch Group made investments of EUR11.2 million in the first half
of the financial year (previous year: EUR13.8 million). Of this figure, 63%
related to the Bathroom and Wellness Division and 37% to the Tableware Division.


Outlook for the whole of the 2012 financial year

Economic risks in the euro zone intensified recently, particularly in Southern
Europe. This will further increase the level of uncertainty among companies and
consumers in the euro zone and beyond and result in the economy weakening
further in the important euro zone markets for Villeroy & Boch during the second
half of the year. 

In this context, for the 2012 financial year, Villeroy & Boch is forecasting
consolidated revenue of EUR745-755 million and operating earnings at or slightly
above the earnings level of the previous year before real estate gains (EUR27.9
million).

"Despite the difficult economic environment, in the first six months of 2012 we
slightly improved revenue year on year", declared Villeroy & Boch CEO Frank
Göring. "In the second half of the year there will be even greater challenges.
The euro zone - our main market - is still in the middle of the crisis. We are
meeting this trend in a decisive fashion - by steadily developing our growth
markets and ongoing systematic cost discipline."

Please read the complete Press Release with Consolidated figures in accordance
with IFRS in the PDF attachment.
The complete Interim Report as a PDF-file for download:
http://www.villeroy-boch.com/en/euo/home/the-company/investor-relations/reports.html

Attachments with Announcement:
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http://resources.euroadhoc.com/us/Ta4RTAb5
http://resources.euroadhoc.com/us/iHrAi7Vb

Further inquiry note:
Villeroy & Boch AG
Frau Almut Hähner-Ural
Leitung Presse und Öffentlichkeitsarbeit Saaruferstraße
D-66693 Mettlach
Tel.: +49 (6864) 81-1397
E-Mail: presse@villeroy-boch.com

end of announcement                               euro adhoc 
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/Ta4RTAb5
http://resources.euroadhoc.com/us/iHrAi7Vb


company:     Villeroy & Boch AG
             Saaruferstraße  
             D-66693 Mettlach
phone:       +49-(0)6864-81-0
FAX:         +49-(0)6864-81-2692
mail:     info@villeroy-boch.com
WWW:      http://www.villeroy-boch.com
sector:      Consumer Goods
ISIN:        DE0007657231
indexes:     CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
             dealing/prime standard: Frankfurt 
language:   English
 

 

 



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