Takkt Ag · XETR:TTK
Takkt — Investor Presentation (November 2025)
42 slides from Takkt's investor presentation, Nov 24, 2025
Slide 1: Capital Markets Investor Presentation Update 2025
Capital Investor Markets Presentation Update 2025: [Strategy Title to be discussed]
Slide 2: Agenda
Agenda 1. TAKKT Today 2. TAKKT Forward Strategy 3. Finance Forward Ambition 4. Results 9M and Guidance 2025 2
Slide 3: TAKKT Today
TAKKT Today 3 24.11.2025 Investor Presentation 2025
Slide 4: TAKKT at a Glance
TAKKT Today TAKKT at a Glance TAKKT is a leading B2B omnichannel distributor for business equipment in Europe & North America Dividend Sales Adj. EBITDA reliability Free cash flow ~€1.0b ~4% 25/25 3 16 >400,000 (2025e) (2025e margin) €10-20m years (2025e) (since IPO) Divisions Brands Products 1999 >
Slide 5: Well balanced and diversified customer base
TAKKT Today Well balanced and diversified customer base >500,000 Customer industries Industrials1 Services & Non-profits & Trade Other Active Customers restaurants public org. Sales by Sales Sales customer by channel by region groups E-Commerce Offline Germany Europe ex Germany North America Large &
Slide 6: Two customer groups with four common needs…
TAKKT Today Two customer groups with four common needs… Large & medium Small customers customers with with transactional high complexity demand Finding the right Simple & efficient Reliable fulfillment Value-add product ordering process process services 6 24.11.2025 Investor Presentation 2025
Slide 7: …and distinct procurement requirements
TAKKT Today …and distinct procurement requirements Large & medium Small customers customers Optimize process costs Best value-for-money products Increase procurement compliance and steering Quick and easy ordering Reliable and seamless Self-service tools solutions Broad assortment Comprehensive cura
Slide 8: Serving our customers along three divisions…
TAKKT Today Serving our customers along three divisions… Best value-for-money products Quick and easy ordering Self-service tools Broad assortment Expert brands Sustainable product alternatives 8 24.11.2025 Investor Presentation 2025
Slide 9: ..with a wide range of attractive products
TAKKT Today ..with a wide range of attractive products Industrial & Packaging Best value-for-money products Quick and easy ordering Self-service tools Office BroadFurniture assortment & Displays Expert brands Sustainable product alternatives FoodService 9 24.11.2025 Investor Presentation 2025
Slide 10: 3 divisions in attractive markets & varying performance
TAKKT Today 3 divisions in attractive markets & varying performance Industrial & Packaging Office Furniture & Displays FoodService National Business Displays2Go Furniture Europe North America North America North America Market size & €38b €6b €14b €17b structure Fragmented Fragmented Consolidating C
Slide 11: Clear performance upside for all divisions
TAKKT Today Clear performance upside for all divisions Industrial & Packaging Office Furniture & Displays FoodService National Business Displays2Go Furniture “Leading distributor “National partner for “One-stop shop for "Trusted partner for Mission going for indirect MRO commercial furniture customi
Slide 12: Investor Presentation 2025
12 24.11.2025 Investor Presentation 2025
Slide 13: Three pillars to move TAKKT forward
TAKKT Forward Three pillars to move TAKKT forward Develop future Realize full customer Improve profitability TAKKT portfolio potential by tailored omni- and cash generation by around strong core of channel experiences, upgrading processes & Industrial & enhanced assortments, systems and operating Pa
Slide 14: Building TAKKT portfolio around Industrial & Packaging
TAKKT Forward Building TAKKT portfolio around Industrial & Packaging Industrial & Packaging Office Furniture & Displays FoodService National Business Displays2Go Furniture Mission going “Leading distributor for “National partner for “One-stop shop for "Trusted partner for forward indirect MRO spend
Slide 15: 10 initiatives to accelerate growth & elevate performance
TAKKT Forward 10 initiatives to accelerate growth & elevate performance Key Growth initiatives Key Performance initiatives 1. Scale large & medium customers 1. Optimize processes end-to-end 2. Serve small customers efficiently 2. Streamline operating model 3. Expand & simplify product portfolio 3. I
Slide 16: Core beliefs and values
TAKKT Forward Core beliefs and values Customer centricity Entrepreneurship Ambition Accountability Strong beliefs & values will drive execution of “TAKKT Forward” strategy 16 24.11.2025 Investor Presentation 2025
Slide 17: Clear 2028 financial and sustainability targets
TAKKT Forward Clear 2028 financial and sustainability targets Sales Organic sales above market growth Adj. EBITDA margin Free cash flow Convert 50-60% of EBITDA >10% mid-term (2028) Improve CCC to less than 30 days ~12% long-term Sustainability Shareholder value 50% of sales with sustainable product
Slide 18: Finance Forward
Finance Forward 18 24.11.2025 Investor Presentation 2025
Slide 19: Clear financial priorities for sustainable success
Finance Forward Clear financial priorities for sustainable success Growth and Improve Focused Attractive profitability cash investments dividend uplift conversion Above markets growth Cash conversion of up to Increased cash capex Return cash to >10% EBITDA margin 60% of EBITDA ratio to >2% sharehold
Slide 20: Profitability uplift by improving leverage & performance
Finance Forward Profitability uplift by improving leverage & performance Adjusted EBITDA margin 12% >10% 4% TAKKT Today 2028 Long-term Industrial & Packaging 8% 15% 16% Office Furnitures & Displays 5% 9% 11% FoodService 0% 7% 8% 20 24.11.2025 Investor Presentation 2025
Slide 21: Cash conversion 50-60% across economic cycles
Finance Forward Cash conversion 50-60% across economic cycles EBITDA conversion into FCF (in %) 125% Days sales outstanding (DSO) Reduction payment terms 100% Improved cash collection 75% ∅ 60% Days inventory outstanding (DIO) 50% Optimization purchasing process ∅ 50% Structural reduction slow mover
Slide 22: Solid capital structure as a strong base
Finance Forward Solid capital structure as a strong base Available credit lines and internal covenants for flexible capital allocation Credit lines Equity ratio Debt repayment period (in €m | as of 31/12) (in % | as of 31/12) (in years | as of 31/12) Very solid balance sheet with internal covenants
Slide 23: Return-driven and reliable capital allocation
Finance Forward Return-driven and reliable capital allocation Operating free cash flow Organic investments Mergers & Acquisitions Shareholder return ⟩ Cash capex slightly ⟩ Investments in I&P ⟩ Base dividends higher than in following portfolio 25/25 years previous years focus ⟩ Special dividends ⟩ I
Slide 24: Investment focus on technology step change
Finance Forward Investment focus on technology step change Cash capex ratio Investment focus Forward capex corridor ⟩ Temporary increase in capex 2.5% ratio as TAKKT invests in growth Former Long-term and performance initiatives capex corridor capex corridor 2.0% ⟩ Focus on innovative applications (
Slide 25: Financial targets 2024 to 2028
Finance Forward Financial targets 2024 to 2028 2025 2028 Long-term 2024 guidance target ambition 1,053 Sales Above (in €m) market growth 2024 2025 2028 long-term ~12% >10% Adj. EBITDA 6.9% Increase to ~12% margin long-term 2024 2025 2028 long-term Conversion up to Free 68 60% of EBITDA cash flow (in
Slide 26: Results 9M & Guidance 2025
Results 9M & Guidance 2025 26 24.11.2025 Investor Presentation 2025
Slide 27: Continued execution of TAKKT Forward Strategy
Results 9M & Guidance 2025 Continued execution of TAKKT Forward Strategy Progressing with focus Priority on serving large Executing measures to I&P on core business: customers enables improve cost structures CEO taking over division positive Q3 growth with with streamlined I&P responsibility for I&P
Slide 28: Growth & performance measures for long-term success
Results 9M & Guidance 2025 Growth & performance measures for long-term success Continuing commercial measures to foster growth while… Secured large project orders and preferred supplier agreements in I&P Achieved omnichannel push with strong performance of NBF summer catalog Continued path of streng
Slide 29: Market environment remains uncertain and challenging
Results 9M & Guidance 2025 Market environment remains uncertain and challenging Europe US Expected GDP growth 2025: Expected GDP growth 2025: Eurozone: 1.3% 1.8% Germany: 0.3% Office furniture market: Manufacturing PMI: Limited demand from government customers, Values remain in contraction territory
Slide 30: Executive Summary Financials Q3
Results 9M & Guidance 2025 Executive Summary Financials Q3 SALES ADJUSTED EBITDA FREE CASH FLOW MARGIN Adjusted EBITDA margin Top line development at Positive FCF of at 4.3% (9.0%); -6.2% organic sales with EUR +7.6m (EUR 10.9m) impacted by lower top continued stabilization through continued line an
Slide 31: Q3 TAKKT Group
Results 9M & Guidance 2025 Q3 TAKKT Group Sales (in €m) EBITDA development (in €m) 269.0 244.5 20.5 -9.7 -4.0 +3.4 10.5 +1.0 -0.7 Q3/24 Q3/25 EBITDA Sales Gross Personnel Marketing one-time EBITDA Q3/24 impact on profit costs and other effects Q3/25 gross profit margin costs Sales were 9.1% below pr
Slide 32: 9M TAKKT Group
Results 9M & Guidance 2025 9M TAKKT Group Sales (in €m) EBITDA development (in €m) 798.4 736.3 50.4 -25.1 -8.7 +6.6 27.3 +5.1 -1.0 9M/24 9M/25 EBITDA Sales Gross Personnel Marketing one-time EBITDA 9M/24 impact on profit costs and other effects 9M/25 gross profit margin costs Sales were 7.8% below p
Slide 33: Industrial & Packaging
Results 9M & Guidance 2025 Industrial & Packaging Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 15.6 Continued top line stabilization in 141.6 134.4 a challenging market environment 10.1 Lower gross profit margin due to 12.3% 11.0% more attractive pricing and 7.5% 7.4% increased fr
Slide 34: Office Furniture & Displays
Results 9M & Guidance 2025 Office Furniture & Displays Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 5.3 D2G business with positive 59.8 52.6 organic sales growth in Q3 4.1 YTD top line with high single- 8.9% 9.3% digit decline at NBF and low 7.8% 7.8% single-digit decline at D2G R
Slide 35: FoodService
Results 9M & Guidance 2025 FoodService Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 3.6 Negative top line development 67.5 in Q3, partly due to higher base 57.5 Gross profit margin down one percentage point YTD, impacted 5.3% 5.6% by freight effects and lower 0.5 vendor rebates 0.
Slide 36: Cash flow generation
Results 9M & Guidance 2025 Cash flow generation Free cash flow development (in €m) Q3/24 Q3/25 9M/24 9M/25 Cash flow before change in net Cash flow before change in net working working capital impacted by lower 16.8 7.2 40.3 18.6 capital EBITDA Change in net working capital as well as 1.1 3.9 15.2 -
Slide 37: Balance sheet
Results 9M & Guidance 2025 Balance sheet Net financial liabilities, of which lease liabilities (in €m) Equity ratio (in %) 153.5 59.1% 58.8% 138.7 54.2% 114.0 55.5 56.8 59.6 09/30/2024 12/31/2024 09/30/2025 09/30/2024 12/31/2024 09/30/2025 Net financial liabilities increased mainly due to Equity rat
Slide 38: Outlook for key financials
Results 9M & Guidance 2025 Outlook for key financials Organic Adjusted Free cash flow sales EBITDA margin Towards the lower -8.0% to EUR 10 million to Guidance end of 4.0% to -4.0% EUR 20 million 6.0% range Economic uncertainty due to tariffs and US government shutdown KEY TAKE- Structural improveme
Slide 39: TAKKT share and investment highlights
TAKKT share and investment highlights 39 24.11.2025 Investor Presentation 2025
Slide 40: Information about the TAKKT share
TAKKT share and investment highlights Information about the TAKKT share Total Shareholder Return: TAKKT and indices Shareholder structure 175 2.4% Franz Haniel & Cie. 150 32.6% Free float 125 65.0% Treasury 100 shares 75 Analyst recommendations 50 1 Buy 25 Hold Sell 0 3 Jan-24 Apr-24 Jul-24 Oct-24 J
Slide 41: Investment highlights
TAKKT share and investment highlights Investment highlights Portfolio focus Market leading Resilient EBITDA Clear Growing demand Attractive on most attractive position with and cash strategic for sustainable dividends… markets… repeat customers… generation… roadmap… solutions… ...with strong I&P1 ..
Slide 42: TAKKT investor relations
TAKKT share and investment highlights TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 - December 11, CIC Forum, virtual e-mail: investor@takkt.de - February 24, Quarterly statement 4/2025 www.takkt.de - March 26, Annual report 2025 TAKKT AG is headquarter