Villeroy & Boch sales decline 9.3% sisään 2023

Recently, Villeroy & Boch disclosed its performance report for fiscal year 2023. In fiscal year 2023, Villeroy & Boch’s consolidated sales were 901.9 million euros, a year-on-year decrease of 9.3%. Adjusted for currency effects, it fell 7.5%. EBIT increased by 9.9% year-on-year to 89 million euros.

Revenue from the franchise business was €4.8 million, slightly higher than the previous year (€4.4 million). In the key EMEA region (Europe, Middle East and Africa), sales fell 11.3%.

Germany was particularly affected, with a 13.0% decline. In the APAC (Asia Pacific) and Americas regions, there was a slight decline of 1.2%. Sales in the Asia-Pacific region increased by 2.9%, mainly due to good project business, which made up for the decline in sales in the Americas region.

In fiscal year 2023, mainly affected by economic factors, both Villeroy & Boch’s two major business segments declined.
Revenues in the Bathroom & Wellness segment fell by 10.0% at constant exchange rates compared to the previous year.

Nominal revenue was €579.4 million, €82.5 million lower than the previous year. This is mainly due to the slowdown in the construction industry in Europe. Sales of sanitary ceramics fell by €47.4 million, tai 11.5%.

Currency-adjusted sales in the Restaurants & Lifestyle segment were down only slightly, 2.4%, from the previous fiscal year. Nominal sales were €319.3 million, €10.1 million lower than the previous year. In terms of sales development, the project business in the Hotels and Catering Industry, which was mainly concentrated in the high-end market, increased sales by €1.2 million or 3.6%. Owned channels (direct stores and e-commerce) grew by 3.7% compared to the previous year.

Investments in property, plant and equipment and intangible assets totaled €41 million in fiscal 2023 (previous year: €36.7 million). 54% of these investments were made in Germany (previous year: 57%). The sanitary and wellness division accounted for the majority of investment expenditure, amounting to 29.6 million euros, tai 72.2%. Investments focus on modernizing and automating production in factories in Germany and abroad, especially ceramic factories in Hungary and Romania.

In Hungary, a new solar power plant was also invested in. The Catering & Lifestyle division invested €11.4 million, accounting for 27.8% of the total investment.

Looking forward to 2024, Villeroy & Boch expects that the weak economic conditions of the past year will continue in 2024. Interest rate policies implemented by central banks to combat inflation will continue to suppress economic activity. kuitenkin, global inflation is expected to fall further.

Samaan aikaan, economic growth in the German domestic market is expected to be very low. Weakening U.S. economic growth momentum is expected to lead to a slowdown in the global economy. and have an impact on the Asia-Pacific and Americas regions. Lisäksi, the escalation of trade disputes cannot be ruled out. Regional tensions have increased.