PRESS RELEASE
from Villeroy & Boch AG (ETR:VIB3)
Original-Research: Villeroy & Boch AG (von Quirin Privatbank Kapitalmarktgeschäft): Buy
Original-Research: Villeroy & Boch AG - from Quirin Privatbank Kapitalmarktgeschäft
13.05.2026 / 09:49 CET/CEST
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Classification of Quirin Privatbank Kapitalmarktgeschäft to Villeroy & Boch AG
| Company Name: | Villeroy & Boch AG |
| ISIN: | DE0007657231 |
| Reason for the research: | update |
| Recommendation: | Buy |
| from: | 13.05.2026 |
| Target price: | 30.50 |
| Last rating change: | |
| Analyst: | Ralf Marinoni |
Q1-26: solid start into FY 2026
The first quarter was characterized by continued weak consumer sentiment and the disposal of the northern European business of the Gustavsberg and Vatette brands. As a result, revenue for the first quarter of 2026 amounted to EUR 318.7m, representing a decline of 13.7% compared with the prior-year figure of EUR 369.1m. Excluding the divestitures and currency effects, the decline in revenue on an adjusted basis amounted to 8.3%. The operating EBIT came in at EUR 17.2m (Q1-25: EUR 24.1m), which also mirrors the divestments.
All in all, the figures—which reflected a challenging market environment—came as no great surprise. We therefore confirm Our Buy recommendation and the EUR 30.50 TP..
You can download the research here: VILLEROY20270513
For additional information visit our website: https://research.quirinprivatbank.de/
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Quirin Privatbank AG
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60313 Frankfurt am Main
research@quirinprivatbank.de
https://research.quirinprivatbank.de/
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2326922 13.05.2026 CET/CEST