EANS-News: Villeroy & Boch AG
interim report on the first half of 2012 (with
document)
One document
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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: ---------------------------------------------- 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 -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- 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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