Bathroom manufacturer the Villeroy & Boch Group has consolidated the revenue of Ideal Standard in its financial results, for the first time since its acquisition, reporting an increase of 20.8%.

Villeroy & Boch Group achieved € 277.1 million in the first quarter of 2024, with € 47.8 million than the previous year as a result of the Ideal Standard acquisition (€229.3 million).

Ideal Standard contributed €57.1 million to consolidated revenue from March 1, 2024.

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Operating EBIT of € 23.1 million was generated in the first quarter of 2024, which was 0.4% higher than in the previous year (€ 23.0 million).

The Bathroom & Wellness Division generated revenue of € 204.1 million in the first quarter of 2024, up 35.4 % on the previous year (€ 150.8 million).

According to Villeroy & Boch Group, revenue growth was reported in almost every business area – in particular in fittings and ceramic sanitary ware.

The company states there has been a “consistently” positive market response to new products, featuring TwistFlush technology in particular.

Its Bathroom & Wellness Division began 2024 with operating EBIT of €17.4 million in the first quarter, matching the previous year’s level.

The Dining & Lifestyle Division generated revenue of € 72.3 million in the first quarter of 2024, down by 7.0 % on the previous year and operating EBIT of € 5.7 million, a slight increase on the previous year.

Villeroy & Boch Group invested €4million in property, plant and equipment and intangible assets in the first quarter of 2024, €3.1 million of which was spent on the Bathroom & Wellness Division.

For the Bathroom & Wellness Division, it saw investment in pressure casting systems in Thailand and Hungary plus new moulds for shower and bath tubs in Belgium and the Netherlands.

Villeroy & Boch Group stated market environment continues to be characterised by a high degree of uncertainty, however the management board of Villeroy & Boch AG is expecting a “significant” increase in revenue, operating EBIT and investment due to the acquisition.