Villeroy & Boch (VIB3) Q3 2026 earnings summary

Executive summary

• 9M revenue was €956.2m, down 11.1% YoY; the decline was 5.2% after adjusting for currency effects and divestments.

• Adjusted FY 2026 guidance was confirmed despite geopolitical and market uncertainty; orders on hand rose to €167.4m from €150.4m at year-end 2025.

Financial highlights

• Operating EBIT fell to €40.9m from €65.1m; prior-year operating EBIT adjusted for divestments was €55.5m.

• Net loss was €12.4m versus net income of €8.4m, impacted by non-recurring tax effects; non-operating result improved to -€3.4m from -€24.5m.

• Operating cash flow was -€29.2m versus +€15.0m; investing cash flow was -€20.9m and financing cash flow +€35.8m.

• Q3 revenue was €320.4m versus €349.4m; EBIT was €0.5m versus €2.1m and net loss was €5.6m versus €5.4m.

Outlook and guidance

• FY 2026 revenue is expected to decline in the high single-digit percentage range; operating EBIT guidance is €50m–€56m.

• FY rolling return on net operating assets is forecast at 5.5%–6.5%; operating capital expenditure is expected at ~€40m.

• Dining & Lifestyle typically generates higher revenue and operating result in Q4 due to Christmas trading.