DGAP-News: TAKKT AG / Key word(s): 9-month figures
TAKKT continues to grow, confirms the forecast and presents its Digital Agenda
Stuttgart, Germany, October 31, 2016. TAKKT has good growth to show for the first nine months of 2016. Compared to the previous year's period, sales increased by 6.7 percent to EUR 841.8 (788.6) million. As expected, growth slowed down in the third quarter after excellent performance in the first half-year. Consumers proved reticent to buy following the Brexit decision at the end of June - especially in nearly all of Europe. "The current market uncertainty caused by the Brexit vote and the upcoming elections in the US is impacting people's willingness to invest. This affects our business," explains Felix Zimmermann, CEO of TAKKT AG. However, Scandinavia, as well as some parts of Southern Europe, have remained comparatively resilient. While most activities in North America recorded growth that was slightly weaker than in previous quarters, the office equipment business managed to maintain its strong growth from earlier in the year. Group sales adjusted for currency and portfolio effects grew organically by 6.0 percent in the nine-month period of 2016 and 2.8 percent in the third quarter.
The gross profit margin in the first nine months was slightly higher than in the corresponding previous year's period. EBITDA increased to EUR 137.4 (118.6) million and the EBITDA margin to 16.3 (15.0) percent. Positive one-time effects also contributed to earnings in both periods. Adjusted for these effects, profitability came in at 15.3 (14.6) percent.
For the remaining fourth quarter, TAKKT is expecting the current performance, which is rather subdued, to continue. This is also due to fewer working days in the fourth quarter which will have a negative impact of about two percentage points on growth. Overall, the Group is confirming its forecast. "The performance of the first nine months has been in line with our expectations," says TAKKT CFO Claude Tomaszewski. "We therefore expect continued organic sales growth of three to five percent for 2016. The EBITDA margin is expected to be in the upper third of the target corridor of 12 to 15 percent."
Conference call: October 31, 2016, at 3:00 pm (CET).
About TAKKT AG
|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, Tradegate Exchange|
|End of News||DGAP News Service|