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TAKKT AG: TAKKT records increased earnings figures in a difficult economic environment

TAKKT AG / Quarter Results

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New nine-month record for cash flow

Stuttgart, 30 October 2008. TAKKT AG has successfully bucked the overall
downward economic trend and has continued to grow organically. In the first
nine months of 2008 the Group achieved a turnover of EUR 703.2 (2007:
736.9) million. Adjusted for currency effects and the sale of Conney Safety
Products LLC (Conney) the Group’s turnover grew organically by 5.0 percent.
The earnings figures continued to develop disproportionately. For cash flow
the Group achieved a new nine-month record.

'The fact that we have maintained our organic growth in the third quarter,
against the background of the worldwide economic downturn, is due to the
broad diversification of our portfolio,' said Georg Gayer, CEO of TAKKT AG.
'However, if the overall economic downturn continues, it is possible that
for the whole year 2008 we will only achieve an organic turnover growth of
some two percent. We would thus undershoot our previously declared goal of
four percent.'

Profitability again increased
Despite negative trends in the economy, earnings before interest, tax,
depreciation and amortisation (EBITDA) rose in the first nine months of the
year by 2.1 percent to EUR 103.4 (101.3) million. The EBITDA margin thus
reached a figure of 14.7 (13.7) percent.

'The development of earnings shows once more the strength of the TAKKT
business model,' said Dr Florian Funck, CFO of TAKKT AG. 'Thanks to the
higher gross profit margin and higher capacity utilisation of the mail
order infrastructure in Europe, we again increased the EBITDA margin. For
2008 we anticipate an EBITDA margin above the previous year’s figure of
14.4 percent. Based on the current economic trend, however, it is unlikely
that the upper end of our target corridor of 12 to 15 percent will be
reached.'

Gratifying growth at KAISER + KRAFT EUROPA
In a situation of noticeably decreasing economic dynamism, the division
continued to play its role as TAKKT Group’s strongest driver of growth in
the third quarter. KAISER + KRAFT EUROPA increased its turnover to EUR
408.1 (374.7) million. This represents a growth of 8.9 percent in
comparison to the previous year’s figure. This positive development was
largely due to the increased number of orders. Progress in Eastern Europe,
Portugal, Finland, Switzerland and Austria as well as in Belgium and Italy
was especially gratifying.

EBITDA rose by 10.8 percent to EUR 83.1 (75.0) million, so that the EBITDA
margin reached a figure of 20.4 (20.0) percent. This increase was due in
particular to higher capacity utilisation.

Lower turnover for Topdeq
At Topdeq a fall in the number of orders in the first nine months of this
year led to a decline in turnover of 5.3 percent to EUR 62.6 (66.1)
million. In currency-adjusted terms, turnover fell by 3.8 percent. However,
the companies in Belgium and Austria bucked the trend and achieved
double-digit growth.

Despite lower turnover figures and higher rental expenditure for the
expanded warehouse infrastructure in the USA, the division was able to
increase its profitability. EBITDA rose from EUR 3.8 to 4.7 million – an
increase of 23.7 percent. The margin reached 7.5 (5.7) percent. The reasons
for this are improved processes as well as the combined use of the expanded
mail order centre in Pfungstadt by KAISER + KRAFT EUROPA and Topdeq.

K + K America defies difficult market environment 
Thanks to its broad diversification, the division again performed well in
the North American market in the third quarter. The decline of 21.4 percent
in turnover to EUR 233.1 (296.4) million is entirely due to the sale of
Conney and the weakness of the US dollar. Adjusted for these effects, K + K
America grew organically on a US dollar basis by 2.1 percent from USD 347.0
to 354.3 million in the period under review.

The EBITDA of the division fell by 20.6 percent to EUR 23.1 (29.1) million
due to currency and divestment effects. However, the margin improved to 9.9
(9.8) percent. The principal reasons were improved trade margins. Adjusted
for Conney the margin increase would have been slightly higher.

Telephone conference
We invite you to put your questions to our Management Board personally. For
this purpose we are arranging a telephone conference on 30 October 2008 at
15:00 hrs (CET) in which we will respond to your questions. Please dial in
on the telephone number +49 30 20 22 31 91.
 


Figures of TAKKT AG under IFRS at the end of Q3 2008
in Euro million

For further details please see www.takkt.de

Short profile of TAKKT AG
TAKKT is the leading B2B mail order company for office, business and
warehouse equipment in Europe and North America. The Group is represented
with its brands in more than 25 countries. The product range of the TAKKT
subsidiaries comprises over 130,000 items from the areas business and
warehouse equipment, classical and design-oriented office furniture and
accessories, as well as sales promotion items for retailers, the food
service industry and the hotel market.

The TAKKT Group employs some 2,000 staff, has about 3 million customers
worldwide and distributes more than 70 million catalogues and mailings per
year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse’s Prime
Standard on 1 January 2003.

Contacts:
Georg Gayer, CEO
Tel. +49 711.3 46 58-201

Dr Florian Funck, CFO
Tel. +49 711.3 46 58-207

E-mail: investor@takkt.de
30.10.2008  Financial News transmitted by DGAP
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Language:     English
Issuer:       TAKKT AG
              Presselstr. 12
              70191 Stuttgart
              Deutschland
Phone:        +49 (0)711 346 58 -0
Fax:          +49 (0)711 346 58 - 10
E-mail:       investor@takkt.de
Internet:     www.takkt.de
ISIN:         DE0007446007
WKN:          744600
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
              Freiverkehr in Berlin, Düsseldorf, München
 
End of News                                     DGAP News-Service
 
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Your Contact

Michael Loch
Michael Loch
Head of Investor Relations
michael.loch(at)takkt.de
Tel: +49 711 3465-8222