^ 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 Group. 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

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Quelle: dpa-Afx