Villeroy & Boch AG has confirmed it remains within its adjusted full-year forecast despite ongoing geopolitical tensions and the impact of divestments.
The group reported consolidated revenue of €956.2 million for the first 9 months of 2026, down 11.1% year on year. Excluding currency effects and the sale of the Northern European brands Gustavsberg and Vatette, revenue declined by 5.2%. Orders on hand increased to €167.4 million as at 30 September 2026, with €150.4 million at the end of December 2025.
Operating EBIT was €40.9 million, compared with €65.1 million in the previous year, or €55.5 million adjusted for divestments. The non-operating result improved to -€3.4 million, against -€24.5 million for the previous year. The Group recorded a result of -€12.4 million, compared with a profit of € 8.4 million in the previous year. Non-recurring tax effects contributed to the decline.
Bathroom & Wellness: Growing orders on hand in a challenging market environment
Villeroy & Boch’s Bathroom & Wellness Division reported revenue of €742.4 million for the first nine months of 2026, down 14.2 % year on year. Excluding currency effects and divestments, revenue declined by 7.2%.
The division continues to face pressure from geopolitical tensions and weak construction activity, with revenue falling by 13.5% in EMEA and 22% across APAC and the Americas.
Operating EBIT decreased to €28.2 million, compared with €52.5 million in the previous year. However, orders on hand increased to €136.9 million as of 30 September 2026, up from €131.9 million at the end of December 2025.
Georg Lörz, bathroom & wellness director, said the market remained challenging, particularly in regions affected by geopolitical tensions and subdued construction activity. He added that the increase in orders on hand reflected continued customer confidence in the division’s offering.
Lörz also highlighted the combined product ranges of Villeroy & Boch and Ideal Standard, alongside ongoing integration work, as key foundations for the division to benefit when market conditions improve.
Dining & Lifestyle: Revenue growth driven by e-commerce and new products
The Dining & Lifestyle Division increased revenue by +1.9% to €211.5 million, an increase of +1.9%. At constant currency, revenue growth was 2.4%.
E-commerce was a key channel, with revenue rising by13.3%, while stationary retail recorded a growth of 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.
Outlook for the 2026 financial year
Villeroy & Boch expects full-year revenue to decline by a high single-digit percentage, in line with its revised forecast, as geo poitical tensions and uncertainty over tariffs and trade policy continue to weigh on trading.
The Group’s outlook also includes 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.
The company said the global market environment remained challenging, with slow economic growth and the Middle East conflict adding to uncertainty.
“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.