Ceramics brand Villeroy & Boch has just closed what it is calling a record financial year, which it has largely attributed to its acquisition of Ideal Standard in March 2024.
In its figures for the 2024 financial year, Villeroy & Boch Group boosted revenue by almost 60% compared to 2023, resulting in record figure of €1.42 bn (roughly £1.19 bn).
In addition, the company says its operating profits have also seen a 10% increase, which is up from €88.7m in 2023, to €97.6m at the end of the 2024 financial year.
This continues the trend the company reported in its half-year financial results back in September, during which Villeroy & Boch said it had exceeded €1bn in revenue for the first-ever time following the acquisition .
The company is somewhat unique in the KBB sector, as it operates both a Bathroom & Wellness Division as well as Dining & Lifestyle Division.
In 2024, the Bathroom & Wellness Division generated revenue of €1.098 bn, a staggering increase of almost 90% over the previous year, which Villeroy & Boch has attributed to acquisitions. Ideal Standard specifically reportedly contributed revenue of €512m to that figure, from the time of its acquisition on March 1, 2024.
The company’s Bathroom & Wellness Division generated an operating profit of €65.2m in the 2024 financial year. This equates to roughly 14% growth – or almost €8m increase – over the previous year’s operating profit.
Although less relevant to the kitchen and bathroom industry, Villeroy & Boch says its Dining & Lifestyle Division closed the year with revenue of € 319.3 million. This division closed the 2024 financial year with an operating profit of € 32.4 million, up by 3.2 % over the 2023 financial year.
Over the year as a whole, Villeroy & Boch confirmed it had also invested €58.3 million in its property, plant and equipment, and intangible assets. These investments reportedly focused on modernising the production sites of both positions, opening its Villeroy & Boch World experience centre, and opening an outlet at the company’s headquarters in Mettlach, Germany.
Looking to the year ahead, Villeroy & Boch’s management board said it believes the company is well positioned in the market, and is forecasting another increase in revenue, which it estimates to be in the “high single-digit percentage range”. In addition, the board anticipates to see a “modest increase” in operating profit for 2025.
Reflecting on the company’s performance this year, CEO Gabi Schupp commented: “With the integration of Ideal Standard, we’ve created a new company that has successfully positioned itself on the market under the umbrella of the Villeroy & Boch Group with two strong brands, clearly defined strategies for growth and an international organisation.
“Ideal Standard complements Villeroy & Boch’s business model. All assumptions regarding the complementary strengths in terms of product portfolio, sales channels and regional presence have been confirmed and increased the Group’s competitiveness.”
