5 Company | Foreword by the Management Board

5

Dear Duravit Friends

,

The Duravit Group once again found itself facing a challeng

-

ing market environment and palpable consumer reticence

in financial year 2024 – and for the

first time this was als

o

apparent in our key market of China. Declining sales

figure

s

meant that our sales were down year-on-year for the second

year running. This trend reflected the general market position.

The fact that we were able to stand our ground – especially

in such a challenging environment – is due in no small par

t

to the dedication of our employees. Their commitment and

motivation is the very foundation of our stability and continue

d

evolution – and we would like to use this occasion to express

our thanks and recognition.

At the same time we are sticking with our strategic course:

we continue to make targeted investments in our future and

are untiring in pursuing our ambitious goal of being climate

-

neutral by 2045. A key milestone on this journey is our new

production facility in Matane, Canada. The expansion plan fo

r

the facility progressed apace in 2024 – and this will make a

key contribution to achieving out climate targets in future

.

Driven almost entirely by green hydroelectric power, an elec-

trically operated ceramic kiln will be deployed for the first

time in the new factory. The facility is scheduled to come on

stream and start producing large sanitary ceramic items for

the North American market in the fourth quarter of 2025.

Sustainability is one of our five central strategic pillars –

alongside “Customer & Brand”, “Digitalization”,

“Employees & Organization” and “Supply Chain”. As a

company in an energy-intensive sector, we bear a special

responsibility when it comes to managing resources and

protecting the environment. The new facility in Canada is

a significant step in the direction of climate-friendly manu

-

facturing operations. The electrically powered kiln driven by

hydroelectric energy tackles the carbon emissions of what

is traditionally a gas-based firing process at the source – and

that makes a real difference. We see this as a pioneering

project for our entire sector.

Our employees are actively shaping the transition with their

dedication, passion, and commitment. Together we are

confident about the coming years – and are pulling out al

l

the stops to guide Duravit into a sustainable and successful

future.

Stephan Tahy

Chief Executive Officer

Thomas Stammel

Chief Operating O

ffice

r

Martin Winkl

e

Chief Financial Officer

GRI 2-22 | GRI 2-23