TAKKT AG / Key word(s): Preliminary Results
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
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
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
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 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
Economic recovery expected for the second half of 2013
Financial statements press conference
Preliminary IFRS figures for the TAKKT Group for the 2012 financial year
Short profile of TAKKT AG
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.
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