DGAP-News: TAKKT AG / Key word(s): Quarter Results
P R E S S R E L E A S E
TAKKT continues good performance of previous year
Stuttgart, Germany, April 28, 2016. TAKKT continued the positive development of 2015 in the first three months of this year. Reported consolidated sales in the first quarter of 2016 were EUR 273.7 (252.3) million, which corresponds to an 8.5 percent increase over the previous year's period. In organic terms (i.e., adjusted for currency effects, the sale of the Plant Equipment Group (PEG) division and the sales contribution of the Post-Up Stand and BiGDUG acquisitions in 2015), Group sales in the first quarter increased by 5.7 percent compared to the previous yearʼs period. A difference in the speed of growth between the European and US activities could still be seen during the reporting period.
Felix Zimmermann, CEO of TAKKT AG, sees the development of the Group as positive: "With the successful start to the year, we are continuing the strong performance of 2015. Our activities in North America in particular still show robust growth. With respect to the rest of the year, we expect the positive development in the USA to continue and slight organic growth in Europe."
In the first quarter of 2016, the gross profit margin of 43.6 percent was above the level of the previous year's period of 43.0 percent. Group earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 47.2 (43.8) million. The EBITDA margin of 17.2 (17.3) percent remained virtually unchanged. The one-time effects in the first quarter of this year as well as the reference period need to be taken into consideration here. In the first quarter of 2015, the disposal of PEG resulted in a one-time gain of EUR 3.3 million. The outstanding variable purchase price liabilities for the acquisition of Post-Up and BiGDUG were reduced by EUR 3.3 million in the reporting period. This resulted in other operating income in the same amount. With respect to both companies, TAKKT's Management Board no longer expects to achieve the ambitious growth and key earnings figures used as the basis for the initial consolidation of the variable liabilities. The adjusted EBITDA margin in both periods came to 16.0 percent.
The TAKKT cash flow (defined as profit for the period plus depreciation and amortization, impairment of non-current assets and deferred taxes recognized as income) of EUR 34.0 (34.4) million remained virtually unchanged from the previous year.
TAKKT EUROPE: Recovery in Switzerland
TAKKT AMERICA: Continued strong growth
About TAKKT AG
The TAKKT Group has over 2,000 employees and just under three million customers worldwide. The company is listed on the SDAX and Deutsche Börse Prime Standard.
|Phone:||+49 (0)711 346 58 -0|
|Fax:||+49 (0)711 346 58 - 10|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich|
|End of News||DGAP News Service|