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[June 2004]
First Quarter Sales Up for Villeroy & Boch
Although market conditions remained weak, when contrasted with figures for the comparative period in 2003, sales in the Villeroy & Boch Group in the first quarter of 2004 increased by 5.6% to a total of €251.5 million. Sales were generated on both the domestic and foreign markets, though the rise of 6.6% on foreign markets was even more notable than that of the 3.6% reported in Germany. Foreign sales are still at a high level and account for roughly 69% of total sales.
Orders received at V&B in Q1 2004 exceeded sales, with the effect that the €70 million volume of orders at the end of the quarter was €16.1 million higher than in the previous year. The Tableware Division accounted for 81% of the increase in orders received. A higher volume of orders was also recorded by the Bathroom and Kitchen Business Segment. At the end of the quarter, the Project Business Division reported an order volume of €2.6 million.
Compared with 2003, V&B was able to increase its result before taxes on income (EBIT) for Q1 2004 by €1.9 million, bringing the total to €4.6 million. The positive result effects were brought by an increase in sales and also the restructuring measures initiated in all divisions - except the Tile Business Segment - in the previous year.
The Bathroom and Kitchen Business Segment saw sales rise 5.9%, from €82.6 million in Q1 2003 to €87.5 million this time.
Reporting sales of €64.6 million, the Tile Business Segment failed to achieve its prior-year sales level of €65.7 million.
Despite a 12.5% weaker exchange rate of the US dollar to the euro, when compared to the previous year, the Tableware Division recorded a 12.1% increase in sales, to a total of €73.3 million.
ENDS