Mettlach, 30.06.2021 - In view of the continued very positive business development in the first half of the year, the Management Board of Villeroy & Boch AG is raising the turnover and earnings forecasts for the full year. It now expects an increase in Group turnover to around EUR 885 million (previously: 5-10 % compared to the previous year) as well as an increase in the Group operating result from around EUR 50 million in the previous year to over EUR 75 million (previously: significantly disproportionate). The increase in the earnings forecast is based on the higher turnover expectation and on successfully implemented structural measures in both divisions, including the transformation and efficiency program started last year.
Note: The interim report for Q2 2021 will be published on 20 July 2021 as scheduled and will contain detailed information on the business development in both divisions.
Mettlach, 16.03.2021 - The Chairman of the Supervisory Board of Villeroy & Boch AG, Dr Alexander von Boch-Galhau has informed the Company today that he will resign from his position as Chairman of the Company's Supervisory Board after the end of the Annual Shareholders’ Meeting 2021. Dr Alexander von Boch-Galhau had taken over the chairmanship on a transitional basis following the departure of Yves Elsen from the Supervisory Board at the end of 2019. He will remain a full member of the Supervisory Board. At the Supervisory Board meeting to be held immediately after the Annual Shareholders’ Meeting 2021, Andreas Schmid will be proposed for election as the new Chairman. Mr Schmid was newly elected to the Supervisory Board at the last Annual Shareholders’ Meeting in 2020 at the suggestion of the shareholders’ representatives and has already been able to familiarise himself with the company and the tasks ahead.
Mettlach, 16 December 2020 - The Management Board of Villeroy & Boch AG today raised its forecast for the 2020 financial year once again. In view of the very good business development in the current 4th quarter of 2020 and continued stringent cost management, it now expects an operating result (EBIT) of at least EUR 45 million. The company had already raised its forecast in October to an EBIT of EUR 30 - 35 million.
The Annual Report 2020 will be published on 17 February 2021.
Mettlach, 09.10.2020 - In view of the recovery of the business in the summer months, the Management Board of Villeroy & Boch AG has today significantly raised its forecast for the financial year 2020. It now expects an operating result (EBIT) of EUR 30 - 35 million. The previously communicated target was to compensate for the losses of the 1st half of the financial year caused by the COVID-19 pandemic in the 2nd half and to achieve a positive operating result. Thanks to stringent cost management since the beginning of the COVID-19 pandemic and a significantly improved sales performance in the 3rd quarter, which was even higher than in the previous year, this target was achieved earlier than planned.
The Management Board expects the positive sales trend to continue in the traditionally strong 4th quarter and to be able to close the fiscal year with total sales revenues of at most 6% below the previous year.
The new forecast is based on the assumption that there will be no further significant measures by governments to contain the pandemic and associated negative effects on the economy.
Taking into account the positive business development in the 3rd quarter of 2020 and the continued high net liquidity, the Management Board and the Supervisory Board have decided to propose to the Annual General Meeting on 30 October 2020 a total dividend of EUR 0.55 per preferred share and EUR 0.50 per common share for fiscal year 2019, less the already paid advance payment on the distributable profits of EUR 0.20 per preferred share and EUR 0.15 per ordinary share, i.e. a further dividend payment of EUR 0.35 per share.
Note: The interim report for the third quarter of 2020 will be published as scheduled on 20 October 2020 and will contain detailed information on business performance in both divisions.
Mettlach, 22.07.2020 - The Supervisory Board of Villeroy & Boch AG has appointed Georg Lörz to the Management Board as the Director of the Bathroom and Wellness Division effective 1 August 2020. He will succeed Andreas Pfeiffer, who will be standing down as a member of the Management Board by mutual arrangement after many years of service at Villeroy & Boch, and leaving the company to pursue new professional challenges as at 31 July 2020.
The Supervisory Board of Villeroy & Boch AG also resolved to renew Dr Markus Warncke’s contract as a member of the Management Board.
Mettlach, 1 July 2020 - On the basis of a common exchange of opinions of the Management Board and the Supervisory Board of Villeroy & Boch AG it is sufficiently likely that the corporate bodies will resolve to pay an advance payment on the distributable profit of the financial year 2019 (advance dividend) in the amount of EUR 0.15 per ordinary share and EUR 0.20 per preference share. The formal resolutions of both corporate bodies are planned to be passed on 08 July 2020, which would then be the cut-off date for the entitlement to the advance dividend. The payment is expected to be made on 13 July 2020.
Due to legal restrictions and to the persisting uncertainty about the economic development on several markets, only a fraction of the dividend amount contained in the original dividend proposal to the Annual General Meeting will be distributed in advance.
The Annual General Meeting will resolve on the amount of the total dividend for the financial year 2019. The Management Board and the Supervisory Board will assess their dividend proposal in light of the then foreseeable business development and liquidity situation and the effects of the measures that Villeroy & Boch is undertaking to counter the consequences of the COVID-19 pandemic.
The Annual General Meeting shall be held in autumn 2020 as a virtual Annual General Meeting without the physical presence of shareholders or their proxies. The exact date will be announced in due time.
Mettlach, 20 march 2020 - Villeroy & Boch AG is reacting to the increasing COVID 19 pandemic and the official measures taken in its course. Now that the administrative departments, with a few exceptions, are already working in the home office, the Management Board has now agreed with the responsible works councils of Villeroy & Boch AG to interrupt parts of the European production for the period until the end of April.
This interruption will initially affect the sites of both divisions in Germany and France. A possible extension depends on further developments, which the Executive Board is constantly monitoring and to which it will react accordingly. Further measures, which may include the interruption of work at other locations and production sites as well as work in selected administrative areas, will be decided depending on further developments.
With these measures, Villeroy & Boch wishes to protect the workforce and contribute to breaking chains of infection and containing the spread of the pandemic.
Despite an intrinsically good business development at the beginning of the financial year, Villeroy & Boch is preparing itself with these measures for a phase of temporarily lower demand. However, the supply chains have so far remained intact and inventories are sufficiently high to cover normal demand in the coming weeks despite the interruption of production in Europe.
As there is currently only limited visibility of the consequences of the pandemic, the economic impact on Villeroy & Boch can neither be adequately determined nor reliably quantified at present. The Management Board expects that sales and earnings for the current financial year will be below the previous forecast, which envisaged slight growth.
Mettlach, 04 February 2020 - The Management Board and Supervisory Board of Villeroy & Boch AG will propose to the Annual General Meeting an unchanged dividend of 0.55 EUR per ordinary share and 0.60 EUR per preference share for the financial year 2019.
Mettlach, 23 January 2020 – In reaction to media speculation, the Villeroy & Boch AG states that it is currently considering an acquisition of the Ideal Standard group. However, this evaluation is still at an early stage, and the company's corporate bodies have not taken any binding decisions on whether or not to make the acquisition nor on any economic parameters. It is therefore also possible that the Villeroy & Boch AG will not further pursue the project or that an acquisition be effected for any other reasons.
Mettlach, 15 January 2020 - Dr Alexander von Boch-Galhau has been elected as the new Chairman of the Supervisory Board of Villeroy & Boch AG with immediate effect. By this the interim chairmanship of Ralf Runge, Deputy Chairman of the Supervisory Board, ends.
Mettlach, 31 December 2019 – The Chairperson of the Audit Committee, Prof. Dr. Annette G. Köhler, today has resigned as member of the supervisory board and Chairperson of the Audit Committee in accordance with the Articles of Association with effect as of February 29, 2020. The Management Board and Supervisory Board thank Mrs. Prof. Dr. Köhler very much for her commitment to the company. The vacancy in the Supervisory Board will be filled shortly.
Mettlach, 30 December 2019 – The Chairman of the Supervisory Board, Yves Elsen, today has resigned as chairman of the supervisory board and will leave the supervisory board office with effect from December, 31 2019. The Management Board and Supervisory Board thank Mr. Elsen very much for his many years of commitment to the company. The vacancy in the Supervisory Board will be filled in short term. Until a new Chairman is elected by the Supervisory Board, Vice Chairman Ralf Runge will assume in accordance with the Articles of Association and the law the duties of the Chairman.
Mettlach, 16 July 2019 – The Management Board of Villeroy & Boch AG has revised its forecast for the 2019 financial year in the current half-yearly financial statements. Based on current business development, the company now expects a slight decline in consolidated revenue to between € 825 million and € 850 million (previous year: € 853.1 million) and in EBIT to between € 48 million and € 52 million (previous year: € 53.6 million). So far, an increase in revenues and earnings of 3 to 5 % each had been forecasted.
The reason for the correction is the unsatisfactory revenue development of -6.3 % in the first half of 2019. In the first six months of the current financial year, Villeroy & Boch AG generated consolidated revenue of € 393.2 million. At € 15.5 million, EBIT was down € 3.5 million on the previous year.
Real estate project Luxembourg:
After Villeroy & Boch announced in February of this year that it was in exclusive negotiations with a property developer regarding the sale of a former plant property in Luxembourg, the preliminary agreements have been concluded and the contractual negotiations are now very likely to be completed in the second half of 2019. As previously, the Management Board expects the transaction to generate high eight-figure non-recurring income.
Note: The interim report on the first half of 2019 will be published as scheduled on 18 July 2019 and will contain additional information on business development in the two divisions.