Takkt AG · XETR:TTK
Takkt — TAKKT Analysts' Conference 2024
25 slides from Takkt's conference presentation, Mar 28, 2024
Slide 1: TAKKT
TAKIT
Slide 2: Analysts' conference hosted by CFO and CEO
Analysts’ conference hosted by Lars Bolscho Maria Zesch CFO CEO 2 28.03.2024
Slide 3: Agenda
AGENDA I TAKKT at a glance II Vision & strategy III Strategic mid-term targets IV Financial results 2023 V Outlook 2024 Analysts‘ conference 2024 28.03.2024
Slide 4: At a glance
At a glance MARKET POSITIONING STRATEGY BUSINESS MODEL Global business B2B omnichannel Growth, Flexible, resilient equipment market distributor focused OneTAKKT, and cash-rich with huge growth on 3 worlds of work Caring potential Addressing EUR 110bn+ Combining long-standing Establishing a customer-
Slide 5: Agenda
AGENDA I TAKKT at a glance II Vision & Strategy III Strategic mid-term targets IV Financial Results 2023 V Outlook 2024 Analysts‘ conference 2024 28.03.2024
Slide 6: Bringing new worlds of work to life
VISION Bringing NEW WORLDS OF WORK to life By caring about environmental resources, people and customer success 6 28.03.2024
Slide 7: Strategy overview
Strategy overview Bringing new worlds of work to life by caring about environmental resources, people and customer success GROWTH OneTAKKT CARING Win customer trust as caring partner Increase profitability via Care-taking as major differentiator to gain customers and orders harmonization and automat
Slide 8: Strategy progress 2023 – Growth
Strategy progress 2023 – Growth Product Already 1/4 of revenues coming from “enkelfähig" products Growth Levers Cross- EUR 11m in cross-selling in 2023 (vs EUR 1.6m in 2022) within I&P and FS divisions selling Smart Improved gross profit margin and additional sales from smart pricing Pricing E-Com P
Slide 9: Strategy progress 2023 - OneTAKKT
Strategy progress 2023 - OneTAKKT Supply chain efficiency Inventory Management Decreased outbound transport Global initiative to transform cost in EU & US inventory management Closed 3rd party warehouses Strong inventory reduction of EUR 35 EU & US network set-up million in Europe & the US developed
Slide 10: Strategy progress 2023 - Caring
Strategy progress 2023 - Caring Sustainability Priorities Achievements & External Recognition Product Impact Responsible production & circularity 24% Share of Enkelfähig Distribution Impact revenues Climate adaption & mitigation Social Impact 11% Equity & Equality Reduction of CO2e emissions Scope 1
Slide 11: Agenda
AGENDA I TAKKT at a glance II Vision & Strategy III Strategic mid-term targets IV Financial Results 2023 V Outlook 2024 Analysts‘ conference 2024 28.03.2024
Slide 12: Strategy implementation on track
Strategy implementation on track RESTART RESILIENCE ACCELERATION 2021–2022 2023–2024 2025–2028 ENVIRONMENT Pandemic, inflation, supply High uncertainty, Expected improvement in chain disruptions subdued demand environment PRIORITIES Operational Inflation management Improve gross profit margin, Accel
Slide 13: Strategic mid-term targets 2028
Strategic mid-term targets 2028 Bringing new worlds of work to life GROWTH OneTAKKT CARING Accelerate organic growth Increase EBITDA margin to 12% Customer NPS of 60 and gain market share Average cash conversion Increase share of women in Additional growth via M&A between 50% and 60% of EBITDA lea
Slide 14: Agenda
AGENDA I TAKKT at a glance II Vision & Strategy III Strategic mid-term targets IV Financial Results 2023 V Outlook 2024 Analysts‘ conference 2024 28.03.2024
Slide 15: Development of key financials in 2023
Development of key financials in 2023 Growth EBITDA Free cash flow1 Dividend proposal EURm EURm EURm EUR 1,240.0 111.9 74.0 1.00 -7.2% reported -15.3% +34.5% per share -5.9% organic 1 Free cash flow definition now includes lease payments from IFRS 16 lease agreements 15 28.03.2024
Slide 16: Sales decline in challenging environment
Sales decline in challenging environment Sales development (in EUR million) 1,336.8 -18.6 -49.9 -35.2 +6.9 1,240.0 Sales 2022 Currency effects I&P OF&D FS Sales 2023 16 28.03.2024
Slide 17: Gross profit margin improved to target
Gross profit margin improved to target Gross profit margin development (in percentage points) +0.9% -0.2% 39.8% 39.3% -0.4% +0.2% 2022 Structural I&P OF&D FS 2023 effect 17 28.03.2024
Slide 18: Intensified cost management paid off
Intensified cost management paid off EBITDA development (in EUR million) 132.1 -32.3 +10.8 +1.0 111.9 +0.3 EBITDA 2022 Gross profit Personnel Marketing and One-time EBITDA 2023 costs other costs effects 18 28.03.2024
Slide 19: Strong increase in free cash flow
Strong increase in free cash flow Free cash flow development Delta 2023 in EUR million 2022 2023 vs 2022 Cash flow before change of 115.1 86.0 -29.1 net working capital Change in net working capital as well as -30.7 +20.4 +51.1 other adjustments Cash flow from operating activities 84.4 106.4 +22.0 O
Slide 20: Internal covenants: Strong balance sheet
Internal covenants: Strong balance sheet Equity ratio (in %) Debt repayment period (in years) 64.7% 62.2% 62.4% 63.8% 58.5% 1.3 0.8 0.9 0.9 0.9 Internal target range: Internal target value: 30 to 60 percent < 5 years 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Interest cover Gearing 20.1 16.7
Slide 21: Dividend proposal
Dividend proposal Share buyback Prolongation of share buyback program with a total volume of up to EUR 25 million until the end of December 2024 To date, 930 thousand shares repurchased for EUR 12.2 million Dividend policy Dividend proposal TAKKT is committed to pay out at least a base Management pr
Slide 22: Agenda
AGENDA I TAKKT at a glance II Vision & Strategy III Strategic mid-term targets IV Financial Results 2023 V Outlook 2024 Analysts‘ conference 2024 28.03.2024
Slide 23: Outlook 2024
Outlook 2024 Environment and TAKKT’s priority: FY forecast expectations Strengthen resilience key financials Low growth in target markets Continue the focus on gross Organic sales with in Europe and the US profit margin, cost high-single- to management and cash flow low-double-digit decline European
Slide 24: Investment thesis
Investment thesis Addressable market >EUR 110bn Vision: Bringing new worlds of work to life Strategy: Growth – OneTAKKT – Caring Excellent position to grow in an attractive and Clear vision & growth- fragmented market oriented strategy Good execution Strong balance sheet, and track record cash flow
Slide 25: TAKKT investor relations
TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 March 28, Annual report and analysts’ Fax: +49 711 3465-8100 conference e-mail: investor@takkt.de April 25, Quarterly statement 1/2024 www.takkt.com TAKKT AG is headquartered in Stuttgart, Germany. May 17, S