P R E S S  R E L E A S E

TAKKT benefits from US business and successful acquisitions despite weak economic situation in Europe

• 10.3 percent increase in turnover in the reporting currency of euros, acquisition and currency-adjusted turnover decline of 2.8 percent
• EBITDA margin remains stable at 14.2 (2011: 14.2) percent, acquisition-adjusted at 13.8 percent
• TAKKT cash flow rises to EUR 92.7 (87.8) million
• Earnings per share reach EUR 1.02 (1.01)

Stuttgart, Germany, 19 February 2013. The TAKKT Group profited in the 2012 financial year from the regional diversification of its business activities and two successful acquisitions in Germany and the USA. TAKKT achieved consolidated turnover growth of 10.3 percent, bringing it to EUR 939.9 (852.2) million. Adjusted for acquisition and currency effects, consolidated turnover decreased by 2.8 percent due to the challenging economic situation in Europe. 'Our business performed in line with our expectations. Both acquisitions helped us to strengthen our portfolio considerably,' said CEO Dr Felix A. Zimmermann.

EBITDA margin remains within upper third of target corridor
The gross profit margin remained stable at 43.3 (43.3) percent in the 2012 financial year as a result of the acquisitions. Adjusted for the acquisitions, the gross profit margin decreased to 42.4 percent, primarily as a result of the higher-margin European market's share in the turnover giving way to North America. EBITDA (earnings before interest, taxes, depreciation and amortisation) increased to EUR 133.8 (121.0) million thanks to earnings contributions provided by the acquisitions GPA (since 01 April 2012) and Ratioform (since 01 July 2012). The margin came in stable at 14.2 (14.2) percent and remained within the upper third of the target corridor of 12 to 15 percent. Adjusted for acquisitions the EBITDA-margin was at 13.8 percent. Despite an increase in finance expenses and depreciation as a result of the acquisitions and a higher tax ratio due to the gain in the US share of taxable profit, earnings per share rose to EUR 1.02 (1.01). TAKKT's cash flow (defined as the result for the period plus depreciation, goodwill impairment and deferred tax affecting profit) grew to EUR 92.7 (87.8) million. This corresponds to a cash flow margin of 9.9 (10.3) percent and a TAKKT cash flow per share of EUR 1.41 (1.34).

CFO Dr Claude Tomaszewski explains: 'Our strong cash flow allows to pay a base dividend of EUR 0.32 also in the current year. Subject to the agreement of the Supervisory Board we will propose to the Annual General Meeting a payment of this amount.'

TAKKT EUROPE - increase in turnover thanks to acquisitions
As a result of the acquisitions and in spite of the recession in Europe, the TAKKT EUROPE division generated growth in turnover of 1.5 percent, reaching EUR 515.1 (507.3) million. However, due to the regional differences in growth, its share of consolidated turnover fell to 54.8 (59.5) percent. In organic terms (i.e. adjusted for currency effects and the acquisition of B2B direct marketing packaging specialist Ratioform), turnover came down 7.6 percent. The main cause of this decline was a reduction in order numbers, while the average order value was slightly below that of the previous year.

The situation varied among the groups within the TAKKT EUROPE division, with the new Packaging Solutions Group (PSG) seeing strongest performance. Thanks to successful sales activities and its specialist range of packaging solutions, as expected it only incurred a drop in turnover in the lower single-digit percentage range as against the pro forma figures of 2011. As the largest group of the division, the Business Equipment Group (BEG) reported declines in turnover amounting to a percentage in the mid single-digit range, while the Office Equipment Group (OEG) saw a reduction in the low double-digit percentage range.

The operating result of TAKKT EUROPE remained high in the 2012 financial year despite the decrease in turnover. The division's EBITDA margin remained stable at 19.8 (19.9) percent, and was at a good level at 19.3 percent even without the recognition of the acquisition of Ratioform.

TAKKT AMERICA - organic growth in turnover and acquisition effects
The performance of TAKKT AMERICA was highly encouraging also due to the positive business environment in the USA. The division benefited in particular from the broad diversification of the customer portfolio and product range. Turnover in North America rose 23.2 percent to EUR 425.2 (345.2) million, which corresponds to a 45.2 (40.5) percent share of the consolidated turnover. Even adjusted for currency effects and the acquisition of the leading US direct marketing company for display articles, GPA, the division saw year-on-year growth of 4.2 percent. The average order value in US dollars adjusted for acquisitions was much higher than in 2011, although the number of orders was slightly below the previous year's level.

The performance of the groups within the TAKKT AMERICA division varied. The Specialties Group (SPG) profited in particular from the turnover generated by GPA and reported a growth rate well into double-digits. Even without the acquisition, the group still experienced growth in the mid single-digit percentage range. The Office Equipment Group (OEG), which specialises in office furniture, even saw slightly better organic growth. This was mainly the result of successful field sales activity. However, the currency-adjusted turnover of the Plant Equipment Group (PEG) - a full-service supplier of transport, storage and plant equipment - experienced a low single-digit percentage decline.

The EBITDA margin of TAKKT AMERICA was 9.7 (8.3) percent in the year under review, and without the recognition of the acquisition of GPA, was 9.6 percent.

Final quarter of 2012 sees decline in organic turnover
In the light of the development of early economic indicators, TAKKT had expected organic turnover to decline in the final three months of 2012. While consolidated turnover in the final quarter of 2012 may have been 11.8 percent above the previous year's value at EUR 244.5 (218.6) million as of year-end, it declined by 5.8 percent when adjusted for currency and acquisition effects. The disparity in the regional performance of the two divisions was also apparent in the fourth quarter of 2012. While the organic turnover of TAKKT EUROPE fell 11.5 percent, TAKKT AMERICA grew 3.2 percent. Consolidated EBITDA in the fourth quarter of 2012 was at EUR 25.7 (21.9) million with an EBITDA margin of 10.5 (10.0) percent. Adjusted for acquisition effects, EBITDA margin came in at 9.8 percent.

Economic recovery expected for the second half of 2013
The early indicators for the business performance of TAKKT Group currently still paint an uneven picture. Zimmermann explains: 'We still expect a difficult first half of 2013, especially in Europe. At the moment some early indicators hint at an economic recovery in Europe from the second half of the year onwards. For 2013 a positive turnover and profit contribution will result from the full-year consolidation of both acquisitions anyhow. We will present a forecast of TAKKT Group's business performance for the full year at the financial statements press conference on 21 March 2013.' There the Management Board will present three scenarios depending on the economic environment, as it has done in the past year.

Conference call
We invite you to directly address the Management Board with your questions. We will be hosting a conference call for this purpose at 15:00 (CET) on 19 February 2013, during which we will be open to questions. To take part, please dial the following number: +49 69 201744-220 (access code: 779134#).

Financial statements press conference
Further details on the 2012 annual financial statements and anticipated future business developments will be published at the financial statements press conference, which will be held in Stuttgart on 21 March 2013.

Preliminary IFRS figures for the TAKKT Group for the 2012 financial year
(in EUR million)

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 more than 180,000 products for the areas of business and warehouse equipment, classic and design-oriented office furniture and accessories, transport packaging, display articles, supplies for retailers, the food service industry and the hotel market.

TAKKT Group employs more than 2,000 staff and has over three million customers worldwide.

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, Tel. +49 711 3465-8201
Dr Claude Tomaszewski, CFO, Tel. +49 711 3465-8207

Email: investor@takkt.de