Villeroy & Boch AG has described its financial position for the first half of 2026 as satisfactory, despite continued geopolitical uncertainty and a challenging market environment.
The group recorded revenue of €635.8 million, down 12.4% compared to €725.8 million in the same period last year. Adjusted for currency effects and for the sale of its Northern European brands Gustavsberg and Vatette on 1 October 2025, the decline was 7.4%.
However, the group recorded positive momentum in its order book, which increased to €49.5 million compared with the end of 2025, reaching €199.9 million.
Operating EBIT stood at €34.5 million, compared with €47.8 million the previous year, reflecting the impact of the divestment and ongoing geopolitical conflict in the Persian Gulf.
Group result was €6.8 million below zero, compared with a profit of +€13.8 million the previous year, largely due to non-cash exceptional tax effects.
Bathroom & Wellness: Results impacted by portfolio restructuring and geopolitical tensions
Villeroy & Boch Bathroom & Wellness Division was impacted by portfolio restructuring and ongoing geopolitical tensions, with revenue reaching €504.4 million for the first half of the year, down 15.5% year on year. Adjusted for portfolio and currency effects, the decline was 9.4%.
The company said the reduction was largely linked to the disposal of its Northern European Gustavsberg and Vatette brands, alongside challenging market conditions. Revenue across EMEA fell by 14.5%, although markets including Italy, Bulgaria and Hungary recorded growth.
Performance in APAC and the Americas was more challenging, with revenue declining by 21.3% against a backdrop of weaker construction activity. Operating EBIT for the division stood at €29.5 million, compared with €43 million in the previous year.
Georg Lörz, Management Board Member for Bathroom & Wellness, said the acquisition of Ideal Standard would help strengthen Villeroy & Boch’s position over the medium and long term, particularly during periods of market uncertainty.
Dining & Lifestyle delivers resilient performance
Outside of Bathroom & Wellness, Villeroy & Boch’s Dining & Lifestyle division remained broadly stable, reporting revenue of €130 million, compared with €130.4 million the previous year. Growth in e-commerce helped offset softer performance in some regions, with online revenue increasing by 16.1%.
Operating EBIT for the division increased slightly to €5 million, supported by new product launches and digital growth.
Group confirms 2026 outlook
Despite continued economic and geopolitical uncertainty, Villeroy & Boch has maintained its full-year 2026 forecast, with operating EBIT expected to reach €75 million.
The company said the impact of the Gustavsberg and Vatette disposal would continue to affect year-on-year comparisons, particularly during the third quarter. However, it highlighted its order book and stable Dining & Lifestyle performance as indicators of underlying business strength.