EANS-News: Villeroy & Boch AG / Interim Report on the First Quarter of 2012 (with document)

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quarterly report

Mettlach, 25 April 2012 (euro adhoc) - Q1 revenue down slightly
year-on-year at EUR184.5 million ( 1%).

- EBIT at prior-year level of EUR7.1 million.

- Sale of ceramic sanitary ware plant in Saltillo, Mexico, completed
as scheduled.

Slight decrease in revenue In the first quarter of 2012, the Villeroy
& Boch Group generated net revenue of EUR184.5 million compared with
EUR186.2 million in the same period of the previous year,
corresponding to a slight decrease of 1%.

Increased orders on hand Orders on hand increased by EUR11.7 million
between 1 January and 31 March 2012 to total EUR53.9 million at the
reporting date. The Bathroom and Wellness Division accounted for
EUR33.3 million of this figure, up 9% on the start of the year.

Earnings at prior-year level The Villeroy & Boch Group's earnings
before interest and taxes (EBIT) for the first quarter of 2012
remained unchanged year-on-year at EUR7.1 million.

The expenses for the expansion of Villeroy & Boch's activities in the
growth regions of Russia and China and the lower gross profit due to
the slight decline in revenue were offset by the special income from
the sale of the ceramic sanitary ware plant in Saltillo, Mexico.

The sale of the plant in Saltillo, Mexico, which is designed for the
high volume Mexican project market, to the WoodCrafters Group was
completed as scheduled in the period under review. WoodCrafters and
the plant's workforce of around 600 will focus on the manufacture of
ceramic sanitary ware products for the DIY store sector in future.
This means that Villeroy & Boch's activities in Mexico are now
concentrated on the two production sites in Ramos and Lerma, which
manufacture high-quality products for the American markets.

Development in the two divisions In the first quarter of 2012, the
Bathroom and Wellness Division generated revenue of EUR122.1 million,
up 1% or EUR1.2 million on the previous year. There were pronounced
regional differences in terms of revenue development. Russia and
Germany saw above-average revenue growth (+31% and +13%
respectively), whereas revenue declined in Mexico ( 14%), Italy
(-12%) and the Netherlands (-11%).

Revenue in the Tableware Division amounted to EUR62.3 million in the
first quarter of 2012, down EUR2.9 million on the same period of the
previous year (¬ 5%). This was primarily due to a reluctance to place
orders on the part of retailers in Western Europe, who are currently
scaling back their inventories significantly. This led to a downturn
in revenue of -9% on the German market. By contrast, there was
encouraging revenue growth in Russia (+10%) and Scandinavia (+9%).

Investments The Group made investments of EUR6.3 million in the first
quarter of 2012 (previous year: EUR7.0 million). The investments in
the Bathroom and Wellness Division largely related to capacity
expansions in Eastern Europe and Thailand. In the Tableware Division,
the Group primarily invested in the expansion of its sales network
and the further establishment of the tableware competence centre in
Merzig.

Assessment and outlook "Developments in the first quarter of 2012
were in line with our expectations," commented Villeroy & Boch CEO
Frank Göring. "Our results for the year as a whole will be determined
by the course of business in the second half of the year." For the
2012 financial year, Villeroy & Boch is forecasting consolidated
revenue of EUR750-760 million and operating earnings (EBIT) within a
range of plus/minus 15% compared with the previous year.

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.vi
lleroy-boch.com/en/euo/home/the-company/investor-relations/reports.ht
ml

Attachments with Announcement:
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http://resources.euroadhoc.com/us/ZaxVQvPQ
http://resources.euroadhoc.com/us/NvaUV2RU

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
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/ZaxVQvPQ
http://resources.euroadhoc.com/us/NvaUV2RU

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