Based on the adjusted full-year forecast, Villeroy & Boch says it sees the Group within the defined target range, despite a market environment that continues to be shaped by geopolitical tensions. Consolidated revenue for the first nine months amounted to €956.2 million, 11.1% below the previous year’s figure. Adjusted for currency effects and the sale of the Northern European brands Gustavsberg and Vatette, the decline was 5.2%. Orders on hand rose to €167.4 million as at 30 September 2026 (31 December 2025: €150.4 million).
In view of the ongoing geopolitical conflicts and divestments, operating EBIT amounted to €40.9 million, compared with €65.1 million in the previous year (€55.5 million adjusted for divestments). The non-operating result improved significantly to -€3.4 million (previous year: -€24.5 million). Impacted by nonrecurring tax effects, the Group result was -€12.4 million (previous year: €8.4million).
Dining & Lifestyle: Revenue growth driven by e-commerce and new products
Despite restrained consumer sentiment, the Dining & Lifestyle Division increased revenue in all regions to €211.5 million (previous year: €207.6 million, +1.9%); on a constant currency basis, this represents growth of 2.4%. Particularly noteworthy are the e-commerce channel, with revenue growth of 13.3%, and stationary retail, which grew by 4.9%. Driven by orders for the new 2026 products and for the Christmas business, the order book rose significantly to €30.5 million (31 December 2025: €18.5 million).
“Dining & Lifestyle is growing even in an environment of subdued consumer sentiment. Our new products are being well received by retailers and consumers, and we are achieving double-digit growth in e-commerce. The significant increase in the order book means we remain confident about the Christmas business, which is so important for us,” comments Dr Peter Domma, Dining & Lifestyle Director and Chief Digital Officer.
Bathroom & Wellness: Growing orders on hand in a challenging market environment
The Bathroom & Wellness Division continues to be heavily affected by a challenging market environment and generated revenue of €742.4 million (previous year: €865.6 million, -14.2%), which corresponds to a decline of 7.2% adjusted for currency effects and divestments. The impact of geopolitical tensions and weak construction activity is particularly evident in the EMEA (-13.5%) and APAC and Americas (-22.0%) regions. Operating EBIT amounted to €28.2 million (previous year: €52.5 million). One positive development is the division’s order book, which rose to €136.9 million (31 December 2025: €131.9 million). “The market situation in the bathroom and wellness business remains
challenging, particularly in regions affected by geopolitical tensions and weak construction activity. At the same time, the increase in the order book shows that our customers continue to trust in our offering. With the combined product range of Villeroy & Boch and Ideal Standard and the progressing integration, we are laying the foundation to benefit from a market recovery,” explains Georg Lörz, Bathroom & Wellness Director.
Outlook for the 2026 financial year
The global market environment remains characterised by subdued economic momentum and geopolitical volatility. In particular, the conflict in the Middle East and uncertainties regarding tariffs and trade policy are weighing on performance. In line with the revised forecast, the Group expects a decline in revenue in the higher single-digit percentage range, operating EBIT of €50 million to €56 million, a rolling return on net operating assets of 5.5% to 6.5% and operating investments of around €40 million.
“In view of the economic and geopolitical environment, we’re continuing to plan prudently. However, with the forecast confirmed at the end of the quarter, an increased order book and solid performance in Dining & Lifestyle, we have a good foundation for the final quarter,” says Finance Director Dr Markus Warncke.