TARKETT: Not a very promising outlook | NEUTRAL | EUR15(+15%)
TARKETT - NEUTRAL | EUR15(+15%)Not a very promising outlook
Not that bad in North America in Q4, but overall revenues in line
Q4 EBITDA under pressure, but slightly better than expected
Cautious comments for 2020, except for Sports
Dividend cut by 60%. Neutral unchanged.
Tarkett is a global flooring company, providing a large range of flooring and sports surface solutions to business and residential end-users. Co. is organized in four segments: Europe, Middle East and Africa (“EMEA”); North America; Commonwealth of Independent States (“CIS”), Asia Pacific (“APAC”) and Latin America; and Sports Surfaces.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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