TAKKT AG / Key word(s): 9-month figures
TAKKT benefits from the good economic environment in the US
- Organic consolidated turnover increased by 5.4 percent in first nine months of 2014 (against 9M/2013); increase of 1.8 percent in reported consolidated turnover
- Gross profit margin sinks to 42.8 (43.7) percent, adjusted for the contribution of Topdeq companies at 42.9 (43.5) percent
- EBITDA margin stable at 14.5 (14.5) percent
- Earnings per share up at EUR 0.78 (0.74) against previous year
Stuttgart, Germany, October 30, 2014. TAKKT was able to continue along the growth path of the first half of 2014 in the third quarter. Driven by stronger economic momentum, TAKKT's North American business developed better than it did in Europe, where the economic indicators weakened in the course of the year. Business developments were satisfactory in the core market of Germany, the growth drivers were primarily in Southern and Eastern Europe.
In the first nine months of 2014, TAKKT was able to increase consolidated turnover organically (i.e. adjusted for currency effects and for the phase-out of the Topdeq companies) by 5.4 percent against the previous year's period. Felix Zimmermann, CEO of TAKKT AG, had the following to say about the figures: "Despite the worsening economic situation in Europe, we were once again able to achieve a very solid growth in the third quarter. Business developments in North America were particularly pleasing, driven noticeably by increasing demand from the public sector."
The reported consolidated turnover in the first nine months of 2014 increased by 1.8 percent against the previous year's period to EUR 726.1 (713.4) million. The difference between organic and reported turnover was due in equal measure to the result of negative currency effects and also the planned dissolution of the Topdeq companies that are not included in the organic turnover. TAKKT grew organically by 7.2 percent in the third quarter of 2014. The reported consolidated turnover climbed by 4.4 percent to EUR 254.8 (243.9) million.
In the first nine months of 2014, the TAKKT Group's gross profit margin was at a lower level than in the previous year's period at 42.8 (43.7) percent. Adjusted for the contributions of the Topdeq companies, it would have been 42.9 (43.5) percent in the reporting period. The key indicator for the operational profitability of the TAKKT Group, earnings before interest, taxes, depreciation and amortization (EBITDA), came to EUR 105.2 (103.3) million in the first nine months of 2014. The EBITDA margin remained stable at 14.5 (14.5) percent. The TAKKT cash flow (defined as the result for the period plus depreciation and amortization, impairment of non-current assets and deferred taxes affecting profit and loss) remained at its usual high level of EUR 75.0 (71.8) million in the period under review, while the cash flow margin amounted to 10.3 (10.1) percent.
TAKKT EUROPE: solid growth, Topdeq discontinuation completed
TAKKT AMERICA: strong turnover increase, business with public sector recovers
Outlook for the 2014 financial year confirmed
Supervisory Board is complete again
About TAKKT AG
The TAKKT Group has approximately 2,500 employees and almost three million customers worldwide. TAKKT AG is listed on the SDAX and has been in the Deutsche Boerse Prime Standard since January 1, 2003.
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