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Tiles

Villeroy & Boch achieves growth in 2004

May 07, 2004
07/05/2004 - After closing fiscal 2003 with a fall in total turnover to 948.6 million euro (from 977.5 million euro in 2002) and a 25.4 million euro decline in profits, the German group Villeroy & Boch has reported a positive growth trend in the first quarter of 2004.

As shown in the table, the division that was most affected by the slowdown in sales in 2003 is that of tiles (-5.9%), whereas the bathroom and kitchen segment performed well with 0.7% growth.

In spite of the fact that market conditions remain unfavourable, during the first three months of 2004 the group’s sales increased by 5.6% and gross operating margin rose from 1.6 to 4.6 million euro.

This result is largely attributable to growth in the bathroom, kitchen and tableware division. The tile segment remains passive, although company restructuring measures and improvements to the product range are beginning to give positive results.

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