TAKKT holds virtual Shareholders' Meeting for the first time; order intake development improved noticeably over the course of the second quarter

Stuttgart, Germany, July 07, 2020. To avoid direct contact and protect the health of participants, the TAKKT AG Shareholders' Meeting took place in a purely virtual format for the first time today. During the meeting, TAKKT CEO Felix Zimmermann spoke about the current development of the business. Organic order development in the second quarter was down around 20 percent compared to the previous year and therefore significantly better than at the beginning of the corona crisis in March and April. At the end of June, TAKKT successfully completed the sale of a property in the USA that resulted in a one-time gain of around USD 5 million before taxes.

The shareholders of TAKKT AG were able to follow today's Shareholders' Meeting live via the internet. On the agenda were resolutions on profit appropriation, discharge of the Management and Supervisory Boards, the selection of an auditor, the approval of a profit and loss transfer agreement, and amendments to the articles of association. All items on the agenda were ratified by a large majority. The Shareholders' Meeting also followed the proposal to forego payment of a dividend in the current year. Questions submitted by shareholders in advance related in particular to strategy, the new organizational structure, and the effects of, and measures involving, the corona pandemic. All questions submitted were answered during the meeting.

Felix Zimmermann made TAKKT 4.0 the focus of his speech. Through the new organizational structure, the Group wants to concentrate on two business models for two different types of customers. The main goals are a more customer-oriented structure, a more integrated organization, increased scalability of important functions, and ultimately, accelerated growth. Some initial measures connected with the new structure were started in the first half of the year. TAKKT anticipates that full implementation could take two to three years.

Zimmermann also reported on the past fiscal year, the start to 2020 and the challenges of the corona crisis. After the first phase of crisis management, the focus is now increasingly on identifying opportunities to develop new, additional business in the current environment.

Zimmermann also provided the shareholders with an insight into current business development. "We saw a significant improvement over the course of the second quarter. After a decline of about 30 percent in April, order intake recovered noticeably in May and June. In total, order intake in the second quarter was about 20 percent below the previous year." TAKKT profited from growing demand from companies preparing to restart operations; from good business with products that are needed due to the corona crisis (e.g. for health protection and hygiene); and from an increased number of customers ordering office furniture for their work at home.

At the end of June, TAKKT successfully completed the sale of a property in the USA. Office and warehouse space of Hubert were sold for around USD 25 million in the course of a sale and leaseback transaction. The result of this transaction was a one-time gain of around USD 5 million before taxes.

The half-year financial statement will be published on July 30.

About TAKKT AG
TAKKT is the leading B2B distance seller for business equipment in Europe and North America. The Group focuses on two business models - Omnichannel and Web-focused Commerce. The Omnichannel Commerce segment addresses corporate customers with complex requirements over numerous contact points and with a wide range of services. The Web-focused Commerce segment concentrates its offers primarily via web shops on the less complex requirements of more price-conscious B2B customers. 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 is represented with its brands in more than 25 countries and employs approximately 2,500 people. The company is listed on the SDAX and Deutsche Börse Prime Standard.

Contacts:
Michael Loch Tel. 22
Benjamin Bühler Tel. 23
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