Villeroy & Boch (VIB3) Q1 2025 earnings summary

Executive summary

• Group revenue rose 33.2% year-over-year to €369.1 million, driven by acquisitions, especially Ideal Standard.

• Operating EBIT increased 4.3% to €24.1 million compared to the same quarter last year.

• Management Board maintains a positive outlook and confirms the annual forecast despite global economic uncertainties.

Financial highlights

• Revenue in Germany grew 16.2% to €86.2 million; international revenue up 39.4% to €282.9 million year-over-year.

• Operating EBITDA increased 20.0% to €42.6 million; EBIT up 26.3% to €17.3 million year-over-year.

• Group result was €6.6 million, down from €7.2 million in Q1 2024; EPS for ordinary shares at €0.22.

• Investments (excluding leasing) rose 62.5% to €6.5 million; lease investments up 70.2% to €8.0 million.

• Net liquidity at -€394.2 million as of 31 March 2025, reflecting increased financial liabilities.

Outlook and guidance

• Forecast for 2025 confirmed despite heightened economic and geopolitical uncertainties.

• Management highlights risks from escalating US-China trade conflict and aggressive US tariff policy.