Consolidated revenue: € 728.3 million

The Villeroy & Boch Group generated revenue (including licence income) of €728.3 million in the first nine months of the 2022 financial year, an increase of €43.8 million or 6.4 per cent as against the same period of the previous year.

However, the good overall revenue performance slowed slightly during the third quarter of 2022 due to consumer reluctance in response to high inflation. Adjusted for currency effects, revenue rose by 4.8 per cent. Orders on hand increased by €6.5 million year-on-year to €171.7 million as of 30 September 2022.

The Bathroom & Wellness Division accounted for €140.9 million of this figure, with the remaining €30.8 million attributable to the Dining & Lifestyle Division.

EBIT: € 64.3 million

EBIT increased by 9.7 per cent year-on-year to €64.3 million. This earnings growth was attributable primarily to good revenue performance, which offset additional costs resulting from the sharp rise in material and energy prices. Additionally, moving the annual holiday at the plants in Germany and Hungary from summer to December 2022 had a positive earnings effect.

Development in the divisions

The Bathroom & Wellness Division generated revenue of €506.3 million in the first nine months of 2022, up 6.0 per cent on the previous year. Revenue growth was achieved in all business areas. Ceramic sanitary ware saw particularly strong revenue growth of €23.3 million or 8.0 per cent, with new products proving particularly successful in the Group’s home market of Germany. Substantial revenue growth was also achieved in the Chinese market, especially in the project business. Despite the additional cost burden resulting from the sharp rise in material and energy prices, the Bathroom & Wellness Division closed the first nine months of 2022 with an operating result (EBIT) of €53.9 million (previous year: € 50.2 million; +7.4 per cent) thanks to the positive revenue development in particular.

Despite the strained market environment, the Dining & Lifestyle Division generated revenue of €219.5 million in the first nine months of 2022, an increase of 7.3 per cent or €14.8 million on the previous year. Encouraging revenue growth was recorded in all regions in spite of the negative impact of the ongoing war in Ukraine and the tangible consumer reluctance among customers in response to the high level of inflation. The division’s sales channels saw heterogeneous development. Revenue at its own retail stores (€ +8.8 million) and with retail outlet partners (€ +6.8 million) increased substantially compared with the previous year. This is consistent with the trend observed in many other industries, with demand shifting back from ecommerce to physical retail to a certain extent now that the restrictions imposed to combat the pandemic have largely been lifted.

Accordingly, ecommerce revenue declined compared with the extraordinarily strong prior year figure (€ -9.4 million) but remains significantly above the pre-pandemic result and thus continues to be at a high level.

Hospitality business saw particularly strong growth (€ +9.3 million) on the back of a pronounced focus on the high-end segment. Thanks to the revenue growth, the Dining & Lifestyle Division recorded an operating result (EBIT) of € 12.6 million, up € 1.0 million (+8.6 per cent) on the previous year.


The Group made investments of € 18.6 million in intangible assets and property, plant and equipment in the first nine months of 2022.

The Bathroom & Wellness Division accounted for € 11.6 million, with the remaining € 7.0 million attributable to the Dining & Lifestyle Division. In the Bathroom & Wellness Division, investment activity focused on the glazing lines at the sanitary ware plants in Hungary and Romania.

New pressure casting machines were purchased in Hungary and new bathtub moulds in Belgium. Investments in the Dining & Lifestyle Division mainly related to the maintenance and modernisation of the production facilities in Merzig and Torgau. In addition, the location development project “Mettlach 2.0” was continued.

Outlook for 2022 as a whole

The outlook for the world economy deteriorated during the third quarter of 2022. The market environment remains extremely strained, not least due to the further escalation of the war in Ukraine, meaning that there is a risk of recession. For the Villeroy & Boch Group, too, the resulting downturn in consumer sentiment is leading to a slowdown in the strong growth momentum recorded in the first half of the year. In light of the continued positive revenue development in the third quarter of 2022 and the higher level of orders on hand compared with the previous year, the Management Board of Villeroy & Boch AG is confident that it will be able to achieve the forecast for revenue, earnings and the operating return on net assets for 2022 as a whole.

Tableware International

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