Villeroy & Boch has reported a resilient set of results for 2025, with group revenue increasing by 1.8% to €1,447 million, supported by acquisitions in what the company describes as a challenging trading environment. Operating EBIT remained stable at €97.8 million.
Gabi Schupp, chair of the management board of the Villeroy & Boch Group said, “For us, 2025 was all about strategic realignment. We have consistently honed our brand positioning while further strengthening our profitability. The acquisition of Ideal Standard has made us significantly more resilient in an economic environment that remains challenging. As a result, we were able to hold our own despite a general reluctance to spend and a weak construction sector.”
Bathroom & Wellness sees acquisition-led growth
The Bathroom & Wellness division – the group’s largest segment – recorded a 2.3% increase in revenue to €1,124.5 million, slightly ahead of the previous year despite continued softness in the construction sector. On a currency-adjusted basis, growth reached 3.4%.
EMEA delivered positive performance, while Asia Pacific and the Americas declined. Growth was led by taps, shower systems and sanitary ceramics, with new product development playing a key role. Highlights included ALU+ (manufactured from recycled aluminium), Vortex flushing technology, and ranges such as i.life, Architectura and Antao. Operating EBIT for the division held steady at €65.2 million.
Dining & Lifestyle holds steady in subdued retail climate
The Dining & Lifestyle division reported revenue of €319.8 million, up 1.0% (excluding licence sales), despite continued pressure on consumer spending.
A strong fourth quarter and new launches, including the Fleur collection, supported performance. Regionally, Asia Pacific and the Americas saw growth, while EMEA declined slightly. Notably, stationary retail partners delivered a 9.4% increase in sales, underlining the ongoing importance of bricks-and-mortar channels. Operating EBIT rose to €32.6 million.
Continued investment and dividend proposal
The group invested €45.8 million across the year in production facilities, retail infrastructure and intangible assets, reflecting an ongoing focus on operational efficiency and brand development.
A dividend of €0.80 per ordinary share and €0.85 per preference share will be proposed at the Annual General Meeting on 8 May 2026.
Cautious outlook for 2026
Looking ahead, Villeroy & Boch expects 2026 to remain challenging, citing geopolitical uncertainty such as the conflict in the Gulf, and continued market volatility. The group forecasts a mid- to high-single-digit percentage decline in sales, with operating EBIT expected to be between €75 million and €85 million.
The disposal of the Northern European operations of the Gustavsberg and Vatette brands (effective 1 October 2025) will impact year-on-year comparisons, with sales and EBIT in the first three quarters expected to fall below 2025 levels.
The business also expects ongoing pressure from integration costs and production realignment, while continuing to invest up to €50 million, including the rollout of SAP S/4HANA.