Slide 1: Results of the first nine months of 2024
Results of the first nine months of 2024 October 24, 2024
Slide 2: Interim CEO: Findings and actions first 100 days
Interim CEO: Findings and actions first 100 days Got to know TAKKT: Met customers & employees, toured offices & warehouses, spoke to investors Solid foundations: Attractive business model, strong brand portfolio, leading assortment, long-standing customer relations Brand strategy and operational iss
Slide 3: Division deep dive
Division deep dive What we‘re facing What we‘re doing I&P Flawed strategy of discontinuing ratioform brand Leveraging brand power, winning back customers Loss of visibility in the market and of packaging Brought back ratioform as a category brand, sales expertise extending commercial programs and vi
Slide 4: Executive summary Q3
Executive summary Q3 MARKET Customer buying behavior dampened by continued economic ENVIRONMENT slowdown, both in Germany and the US OPERATING Performance continues to be impacted by system and process PERFORMANCE challenges (esp. I&P and FS); initiated improvements gain traction Organic sales devel
Slide 5: Financials
LST FINANCIALS
Slide 6: Q3: TAKKT Group
Q3: TAKKT Group Sales (in EUR million) EBITDA development (in EUR million) -14.2% 9.7% margin 7.6% 313.4 9.7% adjusted margin 9.0% 269.0 30.2 -17.7 +4.2 -3.6 +8.4 20.5 -1.0 Q3/23 Q3/24 EBITDA Sales Gross profit Personnel Marketing one-time EBITDA Q3/23 impact on margin costs and other effects Q3/24
Slide 7: 9M: TAKKT Group
9M: TAKKT Group Sales (in EUR million) EBITDA development (in EUR million) -16.4% 9.1% margin 6.3% 9.4% adjusted margin 7.7% 954.5 87.3 -62.1 798.4 +13.6 -8.4 +16.8 50.4 +3.2 9M/23 9M/24 EBITDA Sales Gross profit Personnel Marketing one-time EBITDA 9M/23 impact on margin costs and other effects 9M/2
Slide 8: Industrial & Packaging
Industrial & Packaging Sales Q3 (in EUR million) EBITDA Q3 (in EUR million), margin, adj. margin (in %) Sales performance Q3 and -11.4% YTD affected by weak market 159.8 -11.8%* environment and impacts 141.6 19.4 from temporary 15.6 discontinuation of ratioform 12.1% 12.0% 12.3% brand 11.0% Positive
Slide 9: Office Furniture & Displays
Office Furniture & Displays Sales Q3 (in EUR million) EBITDA Q3 (in EUR million), margin, adj. margin (in %) Organic sales significantly below prior year also due to 75.5 -20.8% ineffective brand positioning; -20.1%* 10.0 59.8 negative trend over the course of the year 13.3% 13.6% Q3 impacted by wea
Slide 10: FoodService
FoodService Sales Q3 (in EUR million) EBITDA Q3 (in EUR million), margin, adj. margin (in %) Organic sales still clearly -13.5% below prior year, but 6.5 significantly improved in Q3 78.1 -12.8%* after a very weak Q2 67.5 Positive impact from 3.6 measures to solve merger issues and out of backlog 8.
Slide 11: Cash flow generation
Cash flow generation Free cash flow development Cash flow before change of in EUR million 9M/23 9M/24 net working capital significantly below prior year Cash flow before change of due to weak sales 67.5 40.3 net working capital development Net working capital: Strong Change in net working capital as
Slide 12: Balance sheet
Balance sheet Net financial liabilities (of which lease liabilities) (in EUR million) Equity ratio (in %) 63.8% 138.7 59.1% 106.0 57.7 55.5 12/31/2023 09/30/2024 12/31/2023 09/30/2024 Increase in net financial liabilities due to dividend Equity ratio at the upper end of target payout and share buyba
Slide 13: Outlook
LST OUTLOOK
Slide 14: Adjusted outlook 2024
Adjusted outlook 2024 Current trading and FY forecast Priorities expectations Q4 key financials No improvement in external Focus on resolution of internal Organic sales growth market conditions expected challenges between minus 15 and minus 17 percent Business performance Keep the right balance cont
Slide 15: Priorities next 100 days and beyond
Priorities next 100 days and beyond Short-term focus confirmed: 1. Actively add order intake initiatives to respond to market dynamics and win-back customers 2. Diligently execute process and system improvements to overcome internal issues 3. Persistently realize cash, cost efficiency and business s
Slide 16: TAKIT
TAKIT
Slide 17: Appendix
LST APPENDIX
Slide 18: Organic sales growth
Organic sales growth Organic growth Q1/23 Q2/23 Q3/23 Q4/23 2023 Q1/24 Q2/24 Q3/24 9M/24 TAKKT Group -3.3% -1.8% -7.1% -11.3% -5.9% -16.5% -19.0% -14.1% -16.5% Industrial & -4.2% -4.3% -7.5% -11.5% -6.9% -15.0% -15.4% -11.8% -14.1% Packaging Office Furniture -5.8% -10.3% -12.2% -12.2% -10.8% -16.7%
Slide 19: Structure of sales development
Structure of sales development Q1/24 Q2/24 Q3/24 9M/24 TAKKT Group in EUR -16.4% -18.5% -14.2% -16.4% organic -16.5% -19.0% -14.1% -16.5% currency +0.1% +0.5% -0.1% +0.1% acquisition/divestment - - - - Industrial & Packaging in EUR -14.1% -15.1% -11.4% -13.6% organic -15.0% -15.4% -11.8% -14.1% curr
Slide 20: TAKKT investor relations
TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 November 21, CIC Forum Market Solutions Fax: +49 711 3465-8100 e-mail: investor@takkt.de November 26, Deutsches Eigenkapitalforum www.takkt.com February 13, 2025, Q4/24 Earnings Call TAKKT AG is headquartere