TAKKT adjusts Topdeq’s goodwill by EUR 12.9 million and has initiated repositioning of the group

2010 guidance slightly raised

As the performance of the Topdeq group has continued to develop negatively even after the phase-out of the economic crisis in 2010, TAKKT will completely write off the group’s goodwill amounting to EUR 12.9 million in the fourth quarter. This non-cash item accordingly reduces all earnings figures of the TAKKT Group below the EBITDA. The Group's equity ratio will be at around 45 percent even after the goodwill amortisation.

In the third quarter of 2010, TAKKT has initiated a project for repositioning the Topdeq brand. This includes measures in the areas of assortment, services and advertising. Even after the adjustment, TAKKT considers the Topdeq group as an important component of the TAKKT portfolio with positive prospects for the development of turnover as well as profit.

The goodwill impairment has no effect on the dividend policy or the outlook for the year 2010: The TAKKT Management Board still aims at proposing a dividend amounting to the previous year’s value to the Supervisory Board and the Annual General Meeting. The Management Board now assumes organic turnover growth of around four percent for the financial year 2010 due to the still positive economic dynamics in Europe and North America. Against this background, the Management Board assumes that an EBITDA margin of slightly over twelve percent can be reached. Thereby, it will be within the long-term target corridor of twelve to 15 percent again.

Short profile of TAKKT AG
TAKKT is the leading B2B direct marketing specialist 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 TAKKT subsidiaries comprises some 160,000 items for the areas of business and warehouse equipment, classic and design-oriented office furniture and accessories, and supplies for retailers, the food service industry and the hotel market.

TAKKT Group employs some 1,800 staff, has around three million customers worldwide and distributes more than 55 million catalogues and mailings per year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse's Prime Standard on 01 January 2003.

Contacts:
Dr Felix A. Zimmermann, CEO 
Phone +49 711 3465-8201

Dr Florian Funck, CFO 
Phone  +49 711 3465-8207

Email: investor@takkt.de