Villeroy & Boch AG · XETR:VIB3
Villeroy & Boch — FY2021 Earnings Presentation
27 slides from Villeroy & Boch's earnings presentation, Feb 17, 2022
Slide 1: Villeroy & Boch AG
a} Villeroy & Boch 1748 Villeroy & Boch AG Mettlach, 17 February 2022
Slide 2: Multiple adjustments of the forecast in 2021
Business Development 2021 Multiple adjustments of the forecast in 2021 Initial Forecast Sales 3t0+5% Operating Result (EBIT) ! +5to+10% | ee if er F]
Slide 3: Multiple adjustments of the forecast in 2021
Business Development 2021 Multiple adjustments of the forecast in 2021 TeCe Q1 Sales +5to+10% 3to+5% EBIT with Operating Result disproportionate (EBIT) increase +5to+10% | =
Slide 4: Multiple adjustments of the forecast in 2021
Business Development 2021 Multiple adjustments of the forecast in 2021 Forecast Q2 Forecast “ Ql Sales Initial Forecast Sales 885 m€ _ erty (+ 10.5 %) Sales +5to+ 6 +30 +5 % EBIT with mr ales Operating Result disproportionate ———— (EBIT) increase +5t0+10% |e aes S|
Slide 5: Multiple adjustments of the forecast in 2021
Business Development 2021 Multiple adjustments of the forecast in 2021 Forecast Q3 Q2 Sales 01 ales 159 - 885 m€ cae) wes ape } Initial Forecast Sales (105%) | EBIT atleast Sales +5to+ 10% | 85 m€ 5 EBIT at least i StS io _EBIT with 73me | Operating Result disproportionate ——— (EBIT) increase J +5to
Slide 6: Multiple adjustments of the forecast in 2021
Business Development 2021 Multiple adjustments of the forecast in 2021 Act 2021 Forecast Sales Q3 945 m€ : Sales (+ 18 %) Forecast . 920 m€ EBIT Ql Sales (+ 15 %) 92.8 m€ Initial Forecast ; 885 m€ . Sales (+ 10.5%) | EBIT atleast ‘alles +5to+ 10% 85 m€ . a » ae EBIT at least > ? 2 2» EBIT with 75 m€
Slide 7: Sales in all World Regions with double-digit Plus
Business Development 2021 Sales in all World Regions with double-digit Plus Villeroy & Boch, 17.02.2022
Slide 8: Double-digit-Growth Product Groups
Business Development 2021 n Double-digit-Growth Product Groups Villeroy & Boch 1748 ——s A vs. PY A vs. PY
Slide 9: Strong Growth in all Sales Channels
Business Development 2021 n Strong Growth in all Sales Channels Villeroy & Boch 1748 ®) (m€) 2021 Avs. PY 2021 A vs. PY
Slide 10: Best operational Result ever since Going Public 1990
Business Development 2021 n Best operational Result ever since Going Public 1990 Villeroy & Boch 1748 EBIT (operational) in m€ rN ASN f ~~ * 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 11: Return on net operating assets over %
Business Development 2021 n Return on net operating assets over 30 % Villeroy & Boch 1748 32.9% | 16.7% 13.6% 2012 2016 2018 2019 2020 Villeroy & Boch, 17.02.2022
Slide 12: Significantly improved Gross Margin
Financial Report Significantly impro Income Statement In m€ Revenue Cost of Sales Gross Profit Villeroy & Boch, 17.02.2022 d Gross Margin Gross Margin 44.3 % fA Villeroy & Boch 1748
Slide 13: Costs at Previous Year's level in relation to Revenue
ial Report 2021 Costs at Previous Year's level in relation to Revenue Income Statement In m€ 2020 Revenue Cost of Sales Gross Profit Selling, Marketing and Development Costs -269.7 - 228.8 General administrative Expenses -48.3 - 41.2 Other operating Income/Expenses 75 -6.7 Operating Result (EBIT) 92
Slide 14: Operating Result (EBIT) at historic level
Financial Report 2021 Operating Result (EBIT) at historic level Income Statement In m€ Revenue Cost of Sales Gross Profit Selling, Marketing and Development Costs -269.7 - 228.8 General administrative Expenses -48.3 41.2 Other operating Income/Expenses oe) - 6.7 Operating Result (EBIT) 92.8 49.7 “Re
Slide 15: Significant Increase in Group Result
Financial Report Significant Increase in Group Result Villeroy & Boch 1748 Income Statement In m€ Revenue Cost of Sales Gross Profit Selling, Marketing and Development Costs -269.7 - 228.8 General administrative Expenses -48.3 -41.2 Other operating Income/Expenses oe) - 6.7 Operating Result (EBIT) 9
Slide 16: Expansion of the balance sheet total due to business expansion
Financial Report 2021 Expansion of the balance sheet total due to business expansion ft Villeroy & Boch Balance Sheet Long-term assets issets Villeroy & Boch, 17.02.2022 1748 (4) Alternative investm avoid custody fees Increase in invento to deliver
Slide 17: Equity ratio increased to 32.3 %
Financial Report 2021 n Equity ratio increased to 32.3 % Villeroy & Boch 1748 Balance Sheet 32.3 % 27.5 % Equity ased due to Group result lower pension provisions and on-current financial Villeroy & Boch, 17.
Slide 18: Monthly development of net liquidity
Financial Report 2021 n Monthly development of net liquidity Villeroy & Boch 1748 In m€ 2020 —m2021 Villeroy & Boch, 17.02.2022
Slide 19: With the alternative investments we are still above last year
Financial Report 2021 n With the alternative investments we are still above last year Villeroy & Boch 1748 In m€ 2020 —m2021 Sep Okt Nov Villeroy & Boch, 17.02.2022
Slide 20: Investments back to pre-corona level
Financial Report 2021 n Investments back to pre-corona level Villeroy & Boch 1748 Investments in m€ Major Investments 2021 Bathroom and Wellness = Automation and modernisation projects in the Eastern European plants = Energy optimisation in all plants Dining & Lifestyle = Investment in the productio
Slide 21: B & W: Investment focus in the Eastern European plants
Financial Report 2021 n B & W: Investment focus in the Eastern European plants Villeroy & Boch 1748
Slide 22: D & L: Investments for the production of new products
Financial Report 2021 n D &L: Investments for the production of new products Villeroy & Boch 1748
Slide 23: D & L: Energy-efficient Kiln Torgau, Investments for CO2-Reduction
Financial Report 2021 n D &L: Enervit Kiln Torgau. Investments for CO,-Reduction Villeroy & Boch 1748 i A A
Slide 24: Share Price up %
Financial Report 2021 Share Price up 60 % a} Villeroy & Boch Performance of Villeroy & Boch Shares In the period from 30 Dec. 2020 to 30 Dec. 2021 22.50 30.12.2021 1748
Slide 25: Dividend proposal
Financial Report 2021 , al Dividend proposal Villeroy & Boch 1748 Earnings per ordinary share (operational) Earnings per preference share (operational) 1.21€ 2.30€ Dividend per ordinary share 0.50 € 0.95 € Dividend per preference share 0.55€ 1.00 € Villeroy & Boch, 17.02.2022 25
Slide 26: Outlook 2022
Outlook 2022 Forecast 2022 fA Villeroy & Boch 1748 Actual 2021 Forecast 2022 Sales 945.0 m€ +5t0+6% Operating Result (EBIT) 92.8 m€ +5to+10% Operating Return on 33.0 % Sligthly below Previous Net Assets “* Year Investments 32.7 m€ > 60 m€ Villeroy & Boch, 17.02.2022 26
Slide 27: Villeroy & Boch AG
a} Villeroy & Boch 1748 Villeroy & Boch AG Mettlach, 17 February 2022