TAKKT AG: TAKKT Adjusts Forecast for the 2017 Financial Year
October 25, 2017 at 02:45 pm EDT
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DGAP-Ad-hoc: TAKKT AG / Key word(s): Change in Forecast
TAKKT AG: TAKKT Adjusts Forecast for the 2017 Financial Year
25-Oct-2017 / 20:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
TAKKT Adjusts Forecast for the 2017 Financial Year
TAKKT AG had previously forecast organic (adjusted for currency and acquisition effects) sales growth of between two and five percent for the 2017 financial year. The EBITDA margin was expected to come in at the middle of the target corridor of 12 to 15 percent of sales.
In the first nine months, organic growth in the Group came to 0.5 percent. While the TAKKT EUROPE segment met growth expectations and recorded organic growth of 2.8 percent, business development in the TAKKT AMERICA segment was weaker than anticipated at minus 1.7 percent. For one, all US divisions reported a significant drop in order intake in Florida and Texas in September as a result of the hurricanes. At OEG on the other hand, the expiration of a framework agreement in the middle of the year with a large federal customer has, so far, not been renewed. In addition, business development at the MEG remained weak, and the improved performance that was anticipated has not yet materialized to the degree expected.
TAKKT expects that the organic performance in the fourth quarter will not be enough for the figures to reach the previously forecast target corridor of 2 to 5 percent. The TAKKT Management Board anticipates organic sales growth of 0 to 1 percent for the 2017 financial year. At the same time, the Board continues to expect the EBITDA-margin to come in at the middle of the target corridor. Currently, the EBITDA margin is anticipated to be between 13.2 and 13.5 percent.
25-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
TAKKT AG
Presselstr. 12
70191 Stuttgart
Germany
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:
Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange
TAKKT AG is a Germany-based business-to-business (B2B) omnichannel distributor for business equipment. The Company operates in three segments: Industrial & Packaging (I&P), Office Furniture & Displays (OF&D) and FoodService (FS). The I&P segment is focused on the working environment of the factory or warehouse in the manufacturing industry and logistics. The OF&D segment is geared towards service providers. The FS segment is geared towards hotels, restaurants, and catering. The Group operates in approximately 25 countries in Europe and North America. It is active through numerous brands, such as Ratioform, KAISER+KRAFT, Hubert, and Gerdmans, amongst others.