villeroy & boch appears to have recovered from the global financial crisis with solid sales figures for the 2010 financial year.
revenue rose 3.9 per cent in total and is on par with last year at 714.2 million euros, just under the previous year’s result of 715.3 million euros.
strong christmas sales helped boost the tableware division to a rise in retail revenue of 9.9 per cent, while the bathroom and wellness division jumped by 8.5 per cent thanks to the ongoing project business.
internationally, profits grew by 3.3 per cent to 534.7 million euros with strong business in the scandinavian, asian and russian markets.
the company achieved a major improvement in its operating earnings (ebit) before non-recurring expenses, which jumped by 25.3 million euros to 23.6 million euros due to sustainable cost savings. however, the 2010 results were negatively impacted by 73 million euros because of an eu fine.
in the bathroom and wellness division, business in germany reported a rise of 2.5 per cent while international markets accounted for 5.4 per cent. the department accrued revenue of 446.6 million euros, a 4.7 per cent increase on the year before.
the tableware division also posted an increase of 8.3 million euros when adjusted for the previous year’s non-recurring expenses.ceo frank göring says the company has turned a corner and is looking forward to a profitable year ahead.
“following an economically difficult 2009, we achieved a turnaround in 2010,” he says.
“thanks to the high demand for villeroy & boch products in asia and eastern europe, we are forecasting profitable growth for the 2011 financial year, which is progressing well.”
january and february sales figures for 2011 confirm positive expectations. during the two months it recorded year-on-year revenue growth of 8.7 per cent.
the group expects continued increase in operating earnings by next year when ebit is expected to reach over 35 million euros.
