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
27.10.2025 / 11:20 CET/CEST
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The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.
Classification of Quirin Privatbank Kapitalmarktgeschäft to Villeroy & Boch AG
| Company Name: | Villeroy & Boch AG |
| ISIN: | DE0007657231 |
| Reason for the research: | Update |
| Recommendation: | Buy |
| from: | 27.10.2025 |
| Target price: | 34.50 |
| Last rating change: | |
| Analyst: | Ralf Marinoni |
9M 2025: Despite no tailwind from the macro side, stable development
In 9M-25 period, Villeroy & Boch generated consolidated sales of EUR 1,075.2m, which was EUR 67.4m or 6.7% higher than in the previous year due to acquisitions. As a result of the Ideal Standard acquisition and the increase in the internationalization of the Villeroy & Boch group, the company achieved strong revenue growth of 10.6% to EUR 92.1m, particularly in EMEA (Europe, Middle East, Africa). Villeroy & Boch achieved this primarily in Western Europe (+ EUR 29.9m/+11.3% yoy) and Southern Europe (+EUR 26.8m/+26.1% yoy). In the 9M-25 period, the company achieved an operating EBIT of EUR 65.1m, thus slightly above the previous year (EUR 64.5m) by 0.9% yoy. The reported EBIT at EUR 40.6m was considerably above the previous year, which closed with EUR 23.4m).
Our updated sum-of-the-parts valuation approach confirms our EUR 34.50 TP, and the recommendation remains Buy.
You can download the research here: VILLEROY20251027
For additional information visit our website: https://research.quirinprivatbank.de/
Contact for questions:
Quirin Privatbank AG
Institutionelles Research
Schillerstraße 20
60313 Frankfurt am Main
research@quirinprivatbank.de
https://research.quirinprivatbank.de/
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2219050 27.10.2025 CET/CEST