EQS-News: TAKKT AG
/ Key word(s): Change in Forecast/Personnel
TAKKT announces preliminary Q3 results and adjusts forecast for fiscal year 2023
For the current fiscal year, TAKKT now anticipates an organic decline in sales in the mid-single-digit percentage range (previously: stable to slightly negative development). "Due to the lack of growth, we are intensifying our cost management. Assuming that the general conditions do not deteriorate further and weigh on the order situation, we expect EBITDA of between EUR 20 and 30 million in the final quarter," says CFO Lars Bolscho. In 2023, EBITDA should thus reach a value of EUR 107 to 117 million (previously: EUR 120 to 130 million). Despite the difficult conditions, TAKKT will generate a significantly higher free cash flow in the current year than in the previous year through focused cash management.
The adjustment of the outlook for the current fiscal year and the economic and geopolitical uncertainty have an impact on the Group's medium-term planning. Due to the challenging environment, TAKKT is no longer adhering to its original financial goals with sales of two billion euros for 2025. Currently, the medium-term corporate goals are being revised.
To continue the strategy, the Supervisory Board extended CEO Maria Zesch's contract by five years until July 31, 2029. The previous contract still runs until the end of July 2024. "Since her start as CEO, Maria Zesch has successfully positioned TAKKT for the future with a new strategy," says Supervisory Board Chairman Thomas Schmidt. "Together with Maria, we want to continue the transformation path she has taken to become an integrated, growth-oriented, profitable and sustainable company. With the contract extension, we are deliberately relying on continuity at the top of the company in the current challenging environment."
"We are currently facing strong economic headwinds in our target markets," says CEO Maria Zesch. "At the same time, I can already see the success from our strategy in many places. For me, this means that we are maintaining our growth trajectory, but in the current environment we are placing a greater focus on strengthening profitability and cash flow. I am very much looking forward to driving our transformation forward together with our management team and all colleagues of the TAKKT Group. I would like to thank the Supervisory Board for their good support and continued trust. I am convinced that there is an incredible amount of potential in the development of our TAKKT."
TAKKT will announce further details on the implementation of the strategy and the corporate goals at the end of March 2024 together with the forecast for 2024. The quarterly statement with detailed information on business development in the first nine months of 2023 will be published on October 25, 2023.
|Phone:||+49 (0)711 3465 80|
|Fax:||+49 (0)711 3465 8104|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange|
|EQS News ID:||1750931|
|End of News||EQS News Service|