Quirin Privatbank Reconfirms Buy Rating for Villeroy & Boch

Quirin Privatbank Kapitalmarktgeschäft has reclassified Villeroy & Boch with a "Buy" rating after analyzing the company's recent financial performance and strategic moves. As of August 4, 2025, the bank upholds a target price of EUR 34.50 for Villeroy & Boch shares.

In the first half of 2025, Villeroy & Boch reported a 12.1% increase in sales to EUR 725.8 million, primarily due to acquisitions. Operating EBIT rose 3.2% to EUR 47.8 million, though the reported EBIT saw a more pronounced improvement, growing from EUR 14.4 million in H1-24 to EUR 38.5 million in H1-25.

The company announced the sale of its Gustavsberg and Vatette brands, effective Q3 2025, aiming to enhance its EBIT margin. This divestiture may result in a revenue decline in 2026. Villeroy & Boch adjusted its FY 2025 guidance, projecting low to mid-single-digit revenue growth, previously foreseen as high single-digit.