Villeroy & Boch AG (von Quirin Privatbank Kapitalmarktgesc... 13.05.2026, 09:49 Uhr von dpa-AFX Jetzt kommentieren: 0

Original-Research: Villeroy & Boch AG - from Quirin Privatbank
Kapitalmarktgeschäft



13.05.2026 / 09:49 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
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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.



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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:
https://eqs-cockpit.com/c/fncls.ssp?u=bb4a1fa75fff0591b66350909c02c7cb
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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2326922 13.05.2026 CET/CEST