Villeroy & Boch AG · XETR:VIB3
Villeroy & Boch — FY2025 Earnings Presentation
14 slides from Villeroy & Boch's earnings presentation, Mar 19, 2026
Slide 1: Villeroy & Boch Annual Financial Statement 2025
026 Villeroy & Boch Annual Financial Statement 2025
Slide 2: Brand positioning, Regions, Channels, Products
Brand positioning Regions Channels Products Finance Call 2026 2
Slide 3: Argent Deconsolidation, Gustavsberg & Vatette, Greece
Argent Deconsolidation Gustavsberg & Vatette Effective January 2025 The sale of the Gustavsberg & Vatette business to the Oras Group reduced the Group’s expected financial results starting in October 2025 2024 2025 Ideal Standard Closing Greece Ideal Standard has been included in the consolidated St
Slide 4: Income Statement (in m€): Revenue, Cost of Sales
Income Statement (in m€) 2025 2024 Revenue 1,447.0 1,421.0 Cost of Sales -888.0 -860.4 Gross Profit 559.0 560.6 Gross Margin 38.6 % 39.5 % Revenue: +1,8% +2,8% nominal fx-adjusted Finance Call 2026 4
Slide 5: Income Statement: Structural Costs
Income Statement (in m€) 2025 2024 Revenue 1,447.0 1,421.0 Cost of Sales -888.0 -860.4 Gross Profit 559.0 560.6 Structural Costs -447.1 -443.3 Structural Cost Ratio 30.9 % 31.2 % Other Operating Income/Expenses -14.1 -19.7 Finance Call 2026 5
Slide 6: Income Statement: Operating EBIT and Non-Operating Result
Income Statement (in m€) 2025 2024 Revenue 1,447.0 1,421.0 Cost of Sales -888.0 -860.4 Gross Profit 559.0 560.6 Structural Costs -447.1 -443.3 Other Operating Income/Expenses -14,1 -19,7 Operating EBIT 97.8 97.6 Non-Operating Result -39.2 -59.0 Restructuring costs -29.1 -12.6 Acquisition- and In
Slide 7: Income Statement: Financial Result
Income Statement (in m€) 2025 2024 Revenue 1,447.0 1,421.0 Cost of Sales -888.0 -860.4 Gross Profit 559.0 560.6 Structural Costs -447.1 -443.3 Other Operating Income/Expenses -14,1 -19,7 Operating EBIT 97.8 97.6 Non-Operating Result -39.2 -59.0 EBIT 58.6 38.6 Financial Result -33.5 -27.3 Financing
Slide 8: Income Statement: EBT and Income Taxes
Income Statement (in m€) 2025 2024 Revenue 1,447.0 1,421.0 Cost of Sales -888.0 -860.4 Gross Profit 559.0 560.6 Structural Costs -447.1 -443.3 Other Operating Income/Expenses -14,1 -19,7 Operating EBIT 97.8 97.6 Non-Operating Result -39.2 -59.0 EBIT 58.6 38.6 Financial Result -33.5 -27.3 EBT 25.1 11
Slide 9: Assets and Equity and Liabilities (in m€)
Long-term Short-term Long-term Short-term Cash Equity assets assets debts debts Equity and Liabilities (in m€) Equity Assets (in m€) Ratio: 1,747.9 1,747.9 1,624.9 1,624.9 20.9 % 364.7 22.3 % 362.7 1049.7 1005.2 785.9 711.0 615.9 519.0 597.3 551.2 82.3 100.7 2024 2025 2024 2025 Finance Call 2026 9
Slide 10: Net Liquidity and Free Cash Flow
Net Liquidity (in m€) -370.2 Debt ratio 2024 Debt ratio 2025 -271.5 (operating) (operating) 2.6 2.0 Free Cash Flow 2024 Free Cash Flow 2025 -19.3 m€ +132.4 m€ The Deutsche Bundesbank confirmed the eligibility for central bank operations again in 31.12.2024 31.12.2025 2025. Finance Call 2026 10
Slide 11: Investments (in m€): Bathroom & Wellness, Dining & Lifestyle
Bathroom & Wellness Investments (in m€) • Completion of Ideal Standard's fittings coating plant in Sevlievo 58.3 • Investments in our sanitary ceramics production facilities in Mettlach 2.0 11.0 Germany and abroad Dining & Lifestyle 47.3 45.8 • Investments in our plants in Merzig and Torgau B&W • Re
Slide 12: Top 1% of companies rated worldwide
Top 1% of companies rated worldwide Total score improved to 85 out of 100 (industry average 58 points) Finance Call 2026 12
Slide 13: Actual 2025 vs Budget 2026
Actual 2025 Budget 2026 Mid- to high-single-digit Revenue 1,447 m€ percentage range below the previous year Operating EBIT 97.8 m€ Between 75 and 85 m€ Return on net 9.9% Between 8,5% and 10% operatings assets Operating Investments 45.8 m€ Up to 50 m€ (w/o Leasing) Finance Call 2026 13
Slide 14: Forward-looking statements disclaimer
This presentation as well as comments and explanations in this context includes forward-looking statements on the business development of the Villeroy & Boch Group. These statements are based on assumptions relating to the development of the economic, political and legal environment in individual co