TAKKT AG

Latest Results (07.08.2024):

Sales Performance

In the first half of 2024, TAKKT AG reported sales of EUR 529.4 million, a significant decrease from EUR 641.2 million in the same period of the previous year. The organic growth rate was negative at -17.7%, with currency effects contributing a slight positive impact of 0.3 percentage points. This decline reflects the challenging economic conditions and subdued customer demand.

Gross Profit Margin

Despite the drop in sales, TAKKT AG managed to improve its gross profit margin to 40.5% in the first half of 2024, up from 39.7% in the same period of 2023. This improvement was part of the company's resilience measures, which included better cost management and leaner operational structures.

EBITDA and Profitability

TAKKT AG's EBITDA for the first half of 2024 was EUR 29.9 million, significantly lower than the EUR 57.0 million reported in the first half of 2023. The adjusted EBITDA margin also declined to 7.0% from 9.3% in the previous year. This decrease was attributed to weak sales performance and one-time expenses related to restructuring efforts.

Free Cash Flow

In terms of cash flow, TAKKT AG generated a free cash flow of EUR 25.6 million in the first half of 2024, slightly higher than the EUR 24.2 million in the same period of the previous year. This was achieved through reductions in inventories and other improvements in cash conversion, which helped offset the lower EBITDA.

Outlook for the Second Half

Looking ahead, TAKKT AG expects a gradual improvement in growth rates in the second half of 2024. However, the company has adjusted its full-year expectations, now anticipating negative organic sales development in the range of -12% to -17%. The adjusted EBITDA margin is expected to be between 7.3% and 8.3%, reflecting ongoing challenges, particularly in the FoodService division.