TAKKT Releases Preliminary Q2 Earnings and Adjusts 2024 Forecast

Stuttgart, Germany, July 19, 2024. TAKKT AG has announced its preliminary Q2 earnings and adjusted its sales and earnings forecast for 2024 amid ongoing economic challenges. Sales for the second quarter fell by 19.0 percent, amounting to EUR 260.4 million, compared to EUR 319.4 million in the same period last year.

The company is focusing on improving its gross profit margin, implementing leaner cost structures, and increasing free cash flow. EBITDA for Q2 was EUR 13.2 million, down from EUR 26.8 million last year, with one-off expenses rising to EUR 4.1 million. The adjusted EBITDA margin stood at 6.6 percent, compared to 9.0 percent previously.

The decline in the FoodService division's sales, attributed to slower processes and integration of brands, has significantly affected overall performance. Organic sales growth for 2024 is now forecasted to be between minus 12 and minus 17 percent. The adjusted EBITDA margin is expected to be between 7.3 and 8.3 percent, with one-time expenses up to EUR 15 million.

The company aims to reduce net working capital by continuing efforts to strengthen free cash flow, despite the weak sales and earnings development in the FoodService division possibly impacting valuation.