Villeroy & Boch (VIB3) Q2 2026 earnings summary

Executive summary

• Revenue declined 12.4% year-over-year to €635.8 million, mainly due to the sale of Northern European operations and adverse geopolitical conditions; adjusted for currency and divestments, the decline was 7.4%.

• Operating EBIT dropped 27.8% to €34.5 million, with net result at €-6.8 million, impacted by non-cash one-off tax effects.

• Management confirmed full-year 2026 guidance despite a challenging economic environment and expects continued impact from geopolitical and economic uncertainty.

• Order book increased by €49.5 million since year-end 2025, reaching €199.9 million.

Financial highlights

• Revenue: €635.8 million (down from €725.8 million year-over-year).

• Operating EBIT: €34.5 million (down from €47.8 million).

• Operating EBITDA: €70.7 million (down 16.4%).

• Net result: €-6.8 million (previous year: €13.8 million), mainly due to one-off tax effects.

• EPS: -€0.28 per ordinary share (previous year: €0.49).

Outlook and guidance

• Full-year 2026 forecast confirmed: operating EBIT targeted at €75 million.

• Revenue expected to be mid- to high-single-digit percentage below previous year.

• Rolling operating return on net assets expected between 8.5% and 10.0%.

• Capital expenditure for 2026 to remain up to €50 million.

• Net revenue and operating EBIT in Q3 2026 will be significantly below prior year due to the Northern European business disposal.