Villeroy & Boch AG · XETR:VIB3
Villeroy & Boch — FY2022 Earnings Presentation
25 slides from Villeroy & Boch's earnings presentation, Mar 2, 2023
Slide 1: Villeroy & Boch Annual Press Conference
Mettlach, 02.03.2023 Villeroy & Boch Annual Press Conference
Slide 2: Both divisions grew to the same extent
ia 2 Q Creating /D Homes Villeroy & Boch Business Development 2022 Both divisions grew to the same extent Sales EBIT m€ me€ 629.4 97.8 2021 312.7 2021
Slide 3: Both divisions grew to the same extent
ia 2 Q Creating /D Homes Villeroy & Boch Business Development 2022 Both divisions grew to the same extent Sales EBIT m€ m€ 64.2 629.4 312.7 2021
Slide 4: Sales development in the world regions
ia 2 Q Creating /D Homes Villeroy & Boch Business Development 2022 Sales development in the world regions Sales ae 2022 a %vs. PY Villeroy & Boch Group 9945 +52% EMEA 793.6 +2.2% APAC 148.9 +26.1 % Americas 47.6 +2.6%
Slide 5: Return of physical retail
Villeroy & Boch 1748 Business Development 2022 Return of physical retail S_ 1748 Villeroy & Boch Sales in m€ UB Dining & Lifestyle Wholesale Project Business Own Retail E-Commerce
Slide 6: E-Commerce: Calming down after two years of hype
ia 2 Creating /D Homes Villeroy & Boch Business Development 2022 E-Commerce: Calming down after two years of hype Sales in E-Commerce in m€ 105.1 Sales 2022 a %vs. PY in m€ UB Dining & Lifestyle 329.4 +5.3% Wholesale 133.7. + 12.6% Project Business 32.8 + 46.9 % Own Retail 71.4 +9.0% E-Commerce 91.5
Slide 7: Project Business recovers from the crisis
ia 2 Creating /D Homes Villeroy & Boch Business Development 2022 Project Business recovers from the crisis Sales in Project Business in m€ 328 Sales 2022 a %vs. PY in m€ UB Dining & Lifestyle 329.4 +5.3% Wholesale 133.7 + 12.6 % Project Business 32.8 +46.9% Own Retail 71.4 +9.0% E-Commerce 91.5 -12.
Slide 8: Return on net operating assets at a sustainably high level
ia 2 Creating /D Homes Villeroy & Boch 1748 Business Development 2022 Return on net operating assets at a sustainably high level Development of return on net operating assets 2013-2022 32.9% 31.5% 17.7% 15.7% 16.7% : ae 13.0% 13.6% 14.4% 7% 12.0% 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 9: Revenues 5.2% above previous year
Business Development 2022 Revenues 5.2 % above previous year Income Statement in m€ Revenue Cost of Sales Gross Profit Q Creating 1748 2 Homes Villeroy & Boch 2022 2021 994.5 945.0 569.0 526.7
Slide 10: Cost increases in all areas
Villeroy & Boch 1748 Business Development 2022 Cost increases in all areas Producer Price Increases 2022 vs. 2021 Gas || 264.9% Metal 26.5% 43.3% Glass 22.6% 33.4% Packaging 29.8% 33.8% 6% 25% 100% 400% @ Annual Average Peak during the yea
Slide 11: Structural costs at previous year's level despite inflation
Business Development 2022 Structural costs at previous year's level despite inflation 2 Q Creating /D Homes ia Villeroy & Boch Income Statement inm€ 2022 2021 Selling, Marketing and Development Costs 271.7 -269.7 General administrative Expenses -48.4 -48.3 Other operating Income/Expenses -8.6 9.8
Slide 12: EBIT up on previous year despite cost inflation
Business Development 2022 EBIT up 7 % on previous year despite cost inflation Income Statement ia 2 Q Creating /D Homes 1748 Villeroy & Boch inm€ 2022 2021 Revenue 994.5 945.0 Cost of Sales 569.0 526.7 Gross Profit 425.5 418.3 Selling, Marketing and Development Costs 271.7 -269.7 General administrat
Slide 13: Financial result improved by 3.5 m€
Business Development 2022 Financial result improved by 3.5 m€ compared to previous year Income Statement ia 2 Q Creating /D Homes Villeroy & Boch 1748 in m€ 2022 2 Revenue 994.5 945.0 Cost of Sales 569.0 526.7 Gross Profit 425.5 418.3 Selling, Marketing and Development Costs 271.7 -269.7 General adm
Slide 14: Tax expense reduced despite increased result
ia 2 Q Creating /D Homes Villeroy & Boch 1748 Business Development 2022 Income Statement Tax expense inne reduced despite Revenue 994.5 945.0 . Cost of Sales 569.0 526.7 increased result 2021 Gross Profit 425.5 418.3 Selling, Marketing and Development Costs 271.7 -269.7 General administrative Expens
Slide 15: Significant increase in consolidated net profit
Business Development 2022 Income Statement Significant increase inne in consolidated net Revenue 5 Cost of Sales profit Gross Profit Selling, Marketing and Development Costs General administrative Expenses Other operating Income/Expenses Operatives Result (EBIT) Non-operating Result EBIT Financial R
Slide 16: Balance sheet total slightly increased
ia 2 Creating /D Homes Villeroy & Boch 1748 Business Development 2022 Balance sheet total slightly increased Assets (in m€) Equity and Liabilities (in m€) 961.7 980.2 961.7 980.2 Long-term assets [N24 6S) 307.1 Equity 372.5 Long term debts 379.2 Short-termassets 43.7.3 361.2 277.2 Short term 264.1 C
Slide 17: Risk provisioning through inventory build-up
ia Q Creating 27 Homes Villeroy & Boch 1748 Business Development 2022 Risk provisioning through inventory build-up Assets (in m€) 961.7 980.2 Long-term assets [N24 6S) > Moderate increase Build-up of inventories for risk 379.2 Short-termassets 43.7.3 provisioning ("gas shortage situation") Reduction
Slide 18: Equity ratio increased by percentage points
Business Development 2022 2/2 Equity ratio increased by 6 percentage points Increased due to improved Group result Change in valuation parameters for pension provisions (new interest rate level) Reclassification purchase price real estate deal Luxembourg Equity and Liabilities (in m€) 961.7 307.1 36
Slide 19: Investment volume significantly increased compared to previous year
ia 2 Q Creating /D Homes Villeroy & Boch 1748 Business Development 2022 Investment volume significantly increased compared to previous year Investments in m€ 36.7 32.8 Major Investment 2022 25.6 — Bathroom & Wellness 25.1 + New die-casting plant at our Hungarian plant in Hédmez6vasarhely + Energy op
Slide 20: B&W: New die-casting plant
Business Development 2022 275: re B& W: New die-casting plant = Investment in the Hoédmezévasarhely ©
Slide 21: EnerVit Kiln. Investments for CO2-reduction
Villeroy & Boch 1748 EnerVit Kiln. Investments for CO,-reduction Investments in the German plants Torgau o © Mettlach
Slide 22: Installation of photovoltaic systems
ia D5 Creating 12) Homes Villeroy & Boch 1748 Business Development 2022 Installation of photovoltaic systems Investments in Germany and Hungary ° Merzig Hodmezévasarhely o
Slide 23: Share price rises again after low
Business Development 2022 Share price rises again after low Development of the Villeroy & Boch Share - Period 30.12.2021 to 01.03.2023 25€ 19€ 16€ 13€ 10€ 31.12.2022
Slide 24: Earnings per share and dividend proposal
Business Development 2022 Earnings per share and dividend proposal 2022 Earnings per preference share 2.72€ per ordinary share 2.67 € Dividend per preference share per ordinary share 2021 2.30 € 2.25 € 1.00 € 0.95 € 2/2 Creating Homes ia Villeroy & Boch
Slide 25: Forecast 2023: Slight increase in sales expected
ia 2 Creating /D Homes Villeroy & Boch Forecast 2023: Slight increase in sales expected Sales Operating EBIT Return on net operating assets Operating Investments (without Leasing) Actual 2022 994.5 m€ 98.2 m€ 31.5 % 36.8 m€ Forecast 2023 A 0/ 7 Oo +4% to +7 % On previous year's level Reduction by >