VILLEROY & BOCH, KONZERN

Consolidated Balancesheet as of 31 December 2005


Assets  31.12.2005
Euro ´000 		31.12.2005
Euro ´000 
NON-CURRENT ASSETS   
Intangible assets 42,235 41,693 
Property, plant and equipment 245,737 258,832 
Investment properties 1,303 560 
Investment accounted for at equity 633 390 
Other financial assets 15,502 10,212 
 305,410 311,687 
Other non-current assets 482 235 
Deferred tax assets  52,242 42,895 
 358,134 354,817 
CURRENT ASSETS   
Inventories 205,644 223,666 
Trade receivables 119,292 113,937 
Financial assets 78 0 
Other current assets 13,891 24,360 
Tax claims 14,551 17,012 
Cash and cash equivalents 58,490 51,334 
 411,946 430,309 
TOTAL ASSETS 770,080 785,126 

Liabilities and shareholders' equity 31.12.2005
Euro ´000 		31.12.2004
Euro ´000 
EQUITY ATTRIBUTABLE TO VILLEROY & BOCH AG SHAREHOLDERS   
Capital subscribed 71,909 71,909 
Capital surplus 193,587 193,587 
Earnings reserves 62,496 60,638 
Consolidated result 13,075 15,995 
 341,067 342,129 
EQUITY ATTRIBUTABLE TO MINORITY INTERESTS 3,642 3,458 
TOTAL SHAREHOLDERS´ EQUITY 344,709 345,587 
NON-CURRENT LIABILITIES   
Provisions for pensions and similar liabilities 188,845 191,034 
Other non-current provisions 7,671 9,089 
Non-current financial liabilities 0 489 
Other non-current liabilities 5,068 5,131 
Deferred tax liabilities 21,425 13,926 
 223,009 219,669 
CURRENT LIABILITIES   
Other current provisions 32,431 49,080 
Current financial liabilities 0 43,21 
Other current liabilities 82,664 80,976 
Trade payables 69,078 68,355 
Tax liabilities 18,189 17,138 
 202,362 219,870 
TOTAL LIABILITIES 425,371 439,539 
TOTAL SHAREHOLDERS´ EQUITY AND LIABILITIES 770,080 785,126 
   
Equity ratio (excl. minority interests)  44.29 % 43.58 % 
Equity ratio (incl. minority interests)  44.76 % 44.02 %