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[April 2004]
First Quarter Business Trends at Villeroy & Boch
Villeroy & Boch AG (Mettlach & Frankfurt, Germany) announced on 14 April 2004 that sales in the first quarter of 2004 had been pleasing and shown growth of 5.6% compared with the comparable period in 2003.
In the first quarter 2004, incoming orders exceeded sales with the result that orders in hand at the end of March 2004 were well above those of the previous year.
Marked increases in sales could also be seen in the divisions Tableware (up 12%), Wellness (up 7%) and Bathroom & Kitchen (up 5.9%). Sales in the Tiles business segment fell by 1.7%.
Given a market environment which lacks any essential improvement, said V&B, it expects sales above prior-year level. In view of the difficult domestic market, the company said it would continue to promote growth in foreign markets. The company felt that in future it would profit from the measures taken in production in the form of falling costs and a better market position, both in terms of sales and of revenue.
Once measures to convert production have been completed, no further conversions or start--up costs are expected in 2004, with the effect that the strain on costs will also be clearly eased here. Overall, V&B said that it is expecting a positive result for the 2004 business year.
Total sales for the group in 2003 were €,948.6 million.
ENDS