Villeroy Boch 2021 Profit Nearly Doubles To 31-Year High
Villeroy Boch released its annual report on February 17, Berlin time in Germany. Benefiting from the excellent performance of its two divisions, Villeroy & Boch’s sales rose 18 percent to €945 million in 2021, above the previous estimate of €920 million. Villeroy Boch said that such a result is still a significant improvement even compared to 2019, before the outbreak. This reflects a significant improvement in the company’s performance. Looking ahead to 2022, Villeroy Boch expects full-year sales to increase by 5% to 6% and profit to increase by 5% to 10%.
In 2021, It Will Have Sales Of Approximately $6.8 Billion And
EBITDA At Record High Since IPO
According to Villeroy & Boch’s 2021 annual report, last year Villeroy Boch achieved sales of 945 million euros (about 6.8 billion yuan), an increase of 18 percent year-on-year. This significantly exceeded the level of the same period in 2019 before the outbreak. Its operating EBIT of €93 million nearly doubled from a year earlier (€50 million in the previous year) and was the highest level since the company went public in 1990. Villeroy & Boch noted that this result was due to the company’s effective initiatives to streamline its corporate structure and reduce operational complexity, in addition to sales growth.
By region, Villeroy & Boch achieved sales growth in all major markets worldwide, benefiting from the growing trend in demand for home and bathroom renovations and the early deployment of its online sales business. Villeroy & Boch mentioned that its main markets are Central Europe, the Middle East and China, where it has signed partnership agreements with several high-class hotels, significantly increasing its presence in the Chinese market.
In addition, Villeroy & Boch’s sales in the EMEA region grew by 17.2% in 2021, with the largest growth rate in the Middle East, where Villeroy & Boch is involved in several revitalization projects that have significantly boosted sales growth.
With Sales Of Approximately $4.5 Billion, The Bathroom & Wellness Division
It Has 11 Sanitary Ceramics Plants
Villeroy & Boch has a bathroom and wellness division, as well as a restaurant and lifestyle, division. Both divisions achieved double-digit sales growth in the past year.
The Bathroom & Wellness division will generate sales of €629 million (approximately RMB 4.5 billion) in 2021, an increase of €90 million or 16.8% compared to the previous year. The division achieved growth in all major markets worldwide, with the exception of the U.S. market. On the other hand, the Food & Beverage & Lifestyle division posted sales of €313 million (approximately RMB 2.3 billion) in 2021, an increase of 20.6% from the previous year. It achieved growth in all markets worldwide.
According to the financial report, Villeroy & Boch’s orders rose by €86 million to €187 million as of December 31, 2021, compared to the same period of the previous year. The Bathroom & Wellness segment accounted for 165 million euros (compared to 85 million euros the previous year) and the Food & Beverage & Lifestyle segment accounted for 22 million euros (compared to 0.16 euros the previous year).
Villeroy & Boch said it invested €33 million in property, plant and production equipment in the past year, up from €20 million in the previous year. Of this amount, €25 million was spent on the Bathroom & Wellness division and €08 million on the Food & Beverage & Living division, accounting for 76.5% and 23.5%, respectively.
Villeroy & Boch revealed in its earnings report that it has 13 production sites in Europe and Asia. Its Asian production site is located in the Saraburi region of Thailand. Of these production sites, 11 are mainly used for the production of sanitary ceramics, while tableware and everyday household products are manufactured at two sites in Germany, Merzig and Torgau. The announcement shows that Villeroy & Boch will employ 6,907 people worldwide as of December 2021, a decrease of 200 people from the end of 2020. This is mainly due to the operational changes implemented by Villeroy & Boch to improve the efficiency of its operations.
Pinsent Masons Has Been Making A Lot Of Moves In The Last Year And
It Expects To Grow Revenues By More Than 5% In 2022
In the past year, Villeroy Boch has made a number of product and marketing initiatives, with key new product launches in both Villeroy & Boch divisions, such as the SUBWAY 3.0 and Antis collections in the Bathroom Wellness division, and the Lave Home collection in the Food & Beverage Lifestyle division, with the SUBWAY 3.0 collection winning The SUBWAY 3.0 series has won several international awards, including the Red Dot Design Award and the German Design Award.
In May last year, Villeroy Boch also presented new products and technologies such as Poggenpohl-IH, Sky, Mettlach, Kono and Twin Spin Flush at the 26th China International Kitchen & Sanitary Facilities Exhibition (Shanghai Kitchen & Sanitary Fair), and released the new brand statement “Make Home, Be Home”.
Since October, Villeroy Boch has been promoting its brand in China by means of a mobile exhibition truck, with the first stop in Beijing, followed by Jiangsu, Zhejiang and Shanghai. Visitors will be able to shop for Villeroy Boch products directly at the event, and will also be able to book a Villeroy & Boch home visit, reflecting the importance attached to the Chinese market.
Looking ahead to 2022, Villeroy & Boch expects the global economy to recover, but at the same time emphasizes the ongoing supply shortages and the associated price increases for raw materials, packaging materials and energy. These will have a significant impact on the company’s operations in 2022, while the recurrence of the new crown epidemic could also cause new disruptions. Based on an assessment of market fundamentals and a range of supporting factors, Villeroy & Boch expects consolidated revenues to increase by 5% to 6% and EBITDA to increase by 5% to 10% in 2022.