In the corona crisis, TAKKT places top priority on financial stability, flexibility and the ability to act
 

• Reported consolidated sales rose 2.8 percent in 2019, organic development 1.4 percent below the previous year
• EBITDA margin at 12.4 (12.7) percent
• Due to the corona pandemic, no reliable forecast is currently possible; significant decline in sales and earnings expected
• Protecting employees and maintaining operations are a priority
• TAKKT responds with cost reduction programs and investment freezes and proposes suspension of the dividend

Stuttgart, Germany, March 26, 2020. In 2019, TAKKT was able to generate slightly higher sales than in the previous year despite a marked economic downturn over the course of the year. Reported sales growth was 2.8 percent. The Group benefited from contributions from the acquisitions and positive currency effects. Organic development, on the other hand, was slightly negative and characterized by a significant loss of momentum over the course of the year. EBITDA remained constant and reached EUR 150.2 (150.1) million. At 12.4 (12.7) percent, the Group achieved a slightly higher EBITDA margin than the forecast of around 12 percent that was adjusted last October.

Looking ahead at 2020, TAKKT expected until recently to see an upswing in business over the course of the year after a challenging first half. However, due to the rapid spread of the coronavirus, there now is a completely different situation. "We are facing some difficult weeks and months. Our top priority right now is to protect our employees from infection. In addition, we have initiated extensive measures to maintain operations," says CEO Felix Zimmermann. In order to tackle the tasks presented by the pandemic, TAKKT has set up crisis teams at the Group level and in the business units, in which the Management Board is also involved.

Reliable forecasts about the development of the Group in the 2020 financial year cannot be made at this time. Based on the information currently available, the Management Board expects the pandemic to have a noticeable negative impact on the supply chains, own operations and customer demand in the relevant markets in Europe and North America. Sales and EBITDA are therefore expected to be significantly below the level of 2019 in the current fiscal year.

"In view of the exceptional crisis situation and uncertainty due to the spread of the coronavirus, we, the Management Board, are giving the highest priority to financial stability and flexibility. Our aim is to be able to act at any time, even during the crisis," explains CFO Claude Tomaszewski. This includes carrying out restructuring measures and the further implementation of TAKKT 4.0. TAKKT also wants to be prepared for opportunities after the pandemic has subsided and once again be able to invest in growth. To achieve this, the Group is responding with cost reduction programs and an investment freeze. Furthermore, the Management Board and Supervisory Board propose to the Shareholders' Meeting that the dividend payment be suspended for the 2019 fiscal year.

Analysts' conference: April 01, 2020 at 3.00 pm (CEST)
The analysts' conference will be held as a conference call on April 01 at 3pm. The login details to participate in the conference can be found under the following link:
 

About TAKKT AG
TAKKT is the leading B2B distance seller for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than a million products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group employs more than 2,500 people. The company is listed on the SDAX and Deutsche Börse Prime Standard.


Key Figures for the TAKKT Group for the 2019 Financial Year
(in EUR million)

Contacts:
Dr. Christian Warns Tel. +49 (0) 711 3465-8222
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