Financials Villeroy & Boch AG

Equities

Market Closed - Xetra Other stock markets 11:36:17 2024-04-26 am EDT			5-day change	1st Jan Change
17.1 ^EUR	0.00%		-0.29%	-4.47%

Feb. 29	Weakening construction industry causes problems for Villeroy & Boch	DP
Feb. 29	Villeroy & Boch AG Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	422.5	380.3	607.4	443.2	473.7	453.6	-	-
Enterprise Value (EV) ¹	368	197.7	453.6	302	473.7	271	213.1	162.7
P/E ratio	5.23 x	16.4 x	10 x	6.16 x	7.75 x	7.01 x	6.48 x	5.9 x
Yield	3.75%	3.82%	2.39%	7.16%	-	7.37%	7.78%	8.19%
Capitalization / Revenue	0.51 x	0.47 x	0.64 x	0.45 x	0.53 x	0.48 x	0.46 x	0.43 x
EV / Revenue	0.44 x	0.25 x	0.48 x	0.3 x	0.53 x	0.29 x	0.21 x	0.15 x
EV / EBITDA	2.54 x	2.29 x	3.47 x	2.19 x	3.56 x	2.02 x	1.55 x	1.15 x
EV / FCF	28,091,995 x	1,695,151 x	-	17,358,920 x	-	-	-	-
FCF Yield	0%	0%	-	0%	-	-	-	-
Price to Book	1.69 x	1.54 x	1.96 x	1.18 x	-	1.08 x	0.99 x	0.92 x
Nbr of stocks (in thousands)	26,407	26,407	26,407	26,462	26,462	26,524	-	-
Reference price ²	16.00	14.40	23.00	16.75	17.90	17.10	17.10	17.10
Announcement Date	2/6/20	2/17/21	2/17/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	833.3	800.9	945	994.5	901.9	940	995	1,060
EBITDA ¹	145.1	86.2	130.8	138.2	133.2	134.2	137.1	141.9
EBIT ¹	51	40.7	90.5	96.8	89	93.5	100	108.3
Operating Margin	6.12%	5.08%	9.58%	9.73%	9.87%	9.95%	10.05%	10.22%
Earnings before Tax (EBT) ¹	96.7	35.8	85.5	95.3	85.4	90.1	97.8	108.1
Net income ¹	80.4	22.6	60.2	71.2	60.7	64	69.2	76
Net margin	9.65%	2.82%	6.37%	7.16%	6.73%	6.81%	6.95%	7.17%
EPS ²	3.060	0.8800	2.300	2.720	2.310	2.440	2.640	2.900
Free Cash Flow	13.1	116.6	-	17.4	-	-	-	-
FCF margin	1.57%	14.56%	-	1.75%	-	-	-	-
FCF Conversion (EBITDA)	9.03%	135.27%	-	12.59%	-	-	-	-
FCF Conversion (Net income)	16.29%	515.93%	-	24.44%	-	-	-	-
Dividend per Share ²	0.6000	0.5500	0.5500	1.200	-	1.260	1.330	1.400
Announcement Date	2/6/20	2/17/21	2/17/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	54.5	183	154	141	-	183	241	291
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	13.1	117	-	17.4	-	-	-	-
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	9.440	9.350	11.70	14.20	-	15.90	17.20	18.60
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	33.2	-	-	36.7	-	-	-	-
Capex / Sales	3.98%	-	-	3.69%	-	-	-	-
Announcement Date	2/6/20	2/17/21	2/17/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B+

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

17.1 EUR

Average target price

34.5 EUR

Spread / Average Target

+101.75%

	1st Jan change	Capi.
VILLEROY & BOCH AG	-4.47%	484M
GEBERIT AG	-8.07%	18.04B
ADVANCED DRAINAGE SYSTEMS, INC.	+15.69%	12.63B
ASTRAL LIMITED	+6.93%	6.57B
ZHEJIANG WEIXING NEW BUILDING MATERIALS CO., LTD.	+17.48%	3.69B
RELIANCE WORLDWIDE CORPORATION LIMITED	+15.35%	2.61B
ALIAXIS SA	+10.71%	2.58B
UPONOR OYJ	+1.78%	2.22B
FINOLEX INDUSTRIES LIMITED	+29.43%	2.02B
CHINA LESSO GROUP HOLDINGS LIMITED	-19.61%	1.3B