DGAP-News: Villeroy & Boch AG / Key word(s): Quarterly / Interim Statement 
Villeroy & Boch AG: Excellent business performance continues in second quarter 
2021-07-20 / 08:00 
The issuer is solely responsible for the content of this announcement. 
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Press Release 
Mettlach, 20 July 2021 
Interim report on the first half-year of 2021 
Excellent business performance continues in second quarter 
  . Consolidated revenue rises 32 % to EUR 449.6 million in first half-year 
  . Operating EBIT up significantly year-on-year at EUR 39.0 million (previous year EUR -10.0 million) 
  . Revenue and earnings forecasts again raised considerably for 2021 in light of continuing excellent business 
    performance 
Revenue development: Up 32 % on previous year 
Following an increase in revenue of +22.4 % in the first quarter of 2021, the Villeroy & Boch Group's revenue rose by 
+43.0 % in the second quarter, though the same quarter of the previous year had been severely impacted by the COVID-19 
pandemic. Overall, consolidated revenue (including licence income) climbed to EUR 449.6 million in the first half of 
2021, a year-on-year increase of EUR 108.9 million or 32.0 %. 
Incoming orders increased in the first half of 2021, rising by EUR 65.8 million as against 31 December 2020 to EUR 166.6 
million. EUR 134.4 million (31 December 2020: EUR 85.1 million) of this relates to the Bathroom and Wellness Division, 
while EUR 32.2 million (31 December 2020: EUR 15.7 million) relates to the Dining & Lifestyle Division. 
Operating EBIT rises to EUR 39.0 million 
EBIT climbed to EUR 39.0 million (previous year: EUR -10.0 million) in both divisions in the first half of 2021, mainly 
thanks to the increase in revenue and the structural measures implemented. However, the previous year's earnings had 
been squeezed by the slump in demand as a result of the COVID-19 crisis and the plant shutdowns and restrictions that 
followed. 
Development in the divisions 
The Bathroom and Wellness Division generated revenue of EUR 323.1 million in the first half of 2021 (previous year: EUR 
245.4 million), up 31.7 % on the previous year, though this had been impacted by the COVID-19 crisis in the second 
quarter especially. Revenue growth was generated in all business areas in the current financial year. The rise in 
revenue of EUR 77.7 million mainly took place in ceramic sanitary ware (EUR +47.8 million) and the wellness business area 
(EUR +11.8 million). Mainly as a result of the gratifying revenue performance, the Bathroom and Wellness Division closed 
the first half of 2021 with an operating result (EBIT) of EUR 36.3 million (previous year: EUR 8.6 million). 
The Dining & Lifestyle Division generated revenue of EUR 125.1 million in the first half of 2021, an increase of 33.2 % 
on the previous year (EUR +93.9 million). Revenue was significantly lower in the previous year due to the officially 
ordered worldwide closure of Villeroy & Boch sales outlets and the global slump in demand as a result of the COVID 19 
crisis. Revenue growth was generated in almost all sales channels in the first half of 2021. Above all, this is 
reflected by the revenue with our retail outlet partners (EUR +16.7 million) and in e-commerce (EUR +15.6 million). 
Meanwhile, there were revenue declines of EUR -1.4 million at Villeroy & Boch retail stores, which were forced to close 
again on account of the second lockdown in the first and second quarters of 2021. The Dining & Lifestyle Division ended 
the period with operating EBIT of EUR 2.7 million, up EUR 21.3 million as against the previous year, which was also 
affected by downtime costs at the plants in Merzig and Torgau. 
Investments 
The Group invested EUR 8.6 million in property, plant and equipment and intangible assets in the first half of 2021 
(previous year: EUR 7.1 million). The Bathroom and Wellness Division accounted for EUR 6.1 million, with the remaining EUR 
2.5 million attributable to the Dining & Lifestyle Division. In the Bathroom and Wellness Division, new facilities were 
acquired in particular for the sanitary ware plants in Hungary and France, as were tools for ViClean production. 
Investment in the Dining & Lifestyle Division essentially included the maintenance and modernisation of the logistics 
centre in Merzig, new acquisitions of pressing tools, the energy optimisation of a kiln and the modernisation of 
Villeroy & Boch retail stores. 
Outlook for 2021 as a whole 
In light of continuing excellent business performance in the first half of the year, the Management Board of Villeroy & 
Boch AG has significantly raised its revenue and earnings forecasts for the 2021 financial year. As was already 
announced in the ad hoc disclosure of 30 June 2021, it is now forecasting that consolidated revenue will rise to around 
EUR 885 million (+10.5 %) and that the operating Group result will grow from around EUR 50 million in the previous year to 
more than EUR 75 million. The earnings forecast has been raised primarily on account of the extraordinarily positive 
revenue performance in the first half of the year and sustainable, structural cost savings. 
"The excellent business performance has continued in the second quarter as well. We are experiencing consistently high 
incoming orders. People are prioritising their homes, which is driving demand for our products considerably," said 
Frank Göring, CEO of the Villeroy & Boch Group. 
Not least in light of the high level of orders on hand, the Group does not expect a significant change in momentum for 
the remainder of the year, though it should be noted that the second half of 2020 was very much characterised by the 
recovery of lost ground in terms of revenue and production and consistently strict cost management. Consequently, the 
earnings improvement in the first half of the year cannot be extrapolated on a straight-line basis. Based on the 
revised targets, the return on net operating assets is expected to range between 22 % and 25 %. 
Please find the complete Interim Report as a PDF-file for download here: 
http://www.villeroyboch-group.com/en/investor-relations/publikationen.html 
Contact: 
Katrin May 
Head of PR 
Tel: +49 (0)6864 81-2714 
E-Mail: may.katrin@villeroy-boch.com 
Anabell Westrich 
Corporate Communications 
Tel: +49 (0)6864 81-1338 
E-Mail: westrich.anabell@villeroy-boch.com 
 
 
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2021-07-20 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
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Language:     English 
Company:      Villeroy & Boch AG 
              Saaruferstraße 1-3 
              66693 Mettlach 
              Germany 
Phone:        +49 (0)6864 81-0 
E-mail:       information@villeroy-boch.com 
Internet:     www.villeroy-boch.de 
ISIN:         DE0007657231, DE0007657207 
WKN:          765723 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1220025 
 
End of News   DGAP News Service 
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1220025 2021-07-20


 
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July 20, 2021 02:00 ET (06:00 GMT)