Villeroy & Boch has presented figures for the first nine months of 2020. The company reports a decline in sales from 587.9 million euros to 548.7 million euros. Before interest and taxes, the company’s profit slumped from 22.3 million euros to 5.9 million euros. The bottom line is that Villeroy & Boch posted a profit slump from 12.8 million euros to 1.9 million euros. In contrast, the cash flow from the operative business could be increased by more than 50 million euros to 43.7 million euros.
According to Villeroy & Boch, the third quarter achieved sales of 208 million euros after 194.7 million euros in the same quarter of the previous year. The quarterly operating result has also improved. “The reason for this was, on the one hand, the significantly improved sales development in the third quarter and the savings achieved through stringent cost management,” said the company.
“In view of the positive recovery of our business in the summer months, we can significantly raise our forecast for the 2020 financial year. We expect the positive sales trend to continue in the traditionally strong fourth quarter as long as the increasing number of infections caused by the corona pandemic does not have a negative impact on the economy, ”says Frank Göring, CEO of Villeroy & Boch AG, on the outlook. The company expects before interest and taxes on an operational basis a profit of 30 million euros to 35 million euros – after nine months this is 10.3 million euros.
At a glance – chart and news: Villeroy & Boch Vz.