Takkt AG · XETR:TTK
Takkt — Investor Day (March 2023)
31 slides from Takkt's investor day presentation, Mar 28, 2023
Slide 1: TAKKT
TAKIT
Slide 2: Analysts' conference hosted by Lars Bolscho and Maria Zesch
Analysts’ conference hosted by Lars Bolscho Maria Zesch CFO CEO 2 28.03.2023
Slide 3: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTAKKT / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 4: Story highlights
Story highlights TAKKT’s Vision: Bringing new Worlds of Work to life B2B equipment market with ongoing huge growth opportunities due to trend shifts Strategy based on three pillars: Growth, OneTAKKT and Caring 2025 growth targets: EUR 2bn sales, EUR 240m EBITDA and EUR 150m free cash flow Committed
Slide 5: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTAKKT / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 6: What drives us: bringing new worlds of work to life
WHAT DRIVES US: BRINGING NEW WORLDS OF WORK TO LIFE 28.03.2023
Slide 7: Deliver on evolving customer needs
Deliver on evolving customer needs MEGATRENDS TAKKT’S OFFER Blue collar/ white collar Full time/ WHO WORKS part time Temps/ Gig workers WORKSPACE TALENT SCARCITY Demographic change SOLUTIONS New HEALTH & WELLBEING HEALTH/WELLBEING Worlds HOW TO Remote PRODUCTS WORK of Work Collaborative workspaces A
Slide 8: Vision: New products and solutions
Vision: New products and solutions SUSTAINABILITY HEALTH SERVICE/SOLUTIONS •Lorum Ipsum Sustainable solutions: Health & wellbeing products: Workspace solutions: NBF Parker chair Ergonomic workbench Project planning and execution Circular approach: Electrically height-adjustable Individual consultati
Slide 9: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTAKKT / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 10: How we win: our strategy Growth, OneTAKKT, Caring
HOW WE WIN: OUR STRATEGY Growth, OneTAKKT, Caring 28.03.2023
Slide 11: Strategic targets 2025
Strategic targets 2025 Growth OneTAKKT Caring “Opportunity through “Scalability and “Enabler for business customer focus” efficiency via success” integration” Sales EUR 2bn EBITDA EUR 240m cNPS of 60 ø10% p.a. organic growth Increase profitability by eNPS of 50 EUR 400m additional sales ~ 2 percenta
Slide 12: Deliverables until 2025
Deliverables until 2025 Growth Cross-selling E-commerce excellence Smart pricing OneTAKKT Integrated organization Three divisions with centralized sales, marketing and category management Scalable and efficient Group functions Integrated tech stack Integrated supply chain Caring Strong customer expe
Slide 13: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTAKKT / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 14: Examples Growth Progress
Examples “Growth” Progress Cross Selling in I&P division Smart Pricing in I&P division € Integrated sales organization Critical success factor for inflation management Broader product range More dynamic and differentiated pricing actions based on product Increase value proposition categories and oth
Slide 15: Example OneTAKKT Progress
Example “OneTAKKT” Progress 2021: Stand-alone BU setup Today: Integrated organization Stand-alone business units Focus on growth No cross-selling, no synergies Group functions to synergies Financial holding Integrated and more efficient set-up OCC WFC KAISER+KRAFT Certeo ratioform BiGDUG I&P O&D FS
Slide 16: Examples Caring Progress
Examples “Caring” Progress Enkelfähig product rating “Landbox” product example Measure product sustainability Passive insulated packaging Criteria: Social issues, biodiversity, Use of straw to reduce energy usage climate change, others Excellent insulation & shock absorption “enkelfähig” combines su
Slide 17: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTAKKT / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 18: Strategy execution 2023
Strategy execution 2023 Growth OneTAKKT Caring Increase cross-selling with Tech platform Sustainability relaunch of KAISER+KRAFT harmonization “Enkelfähig” products and FoodService integration I&P push FS CO2e reduction Focus on eCom excellence with stronger performance Supply chain efficiency Engag
Slide 19: M&A strategy
M&A strategy Region/market: Focus on Europe and the US Worlds of work: Integration into one of the three divisions (more likely) or Targets build-up of new division for additional WoW (less likely) Financials: Solid financials and high organic growth potential Increase volume to improve economies of
Slide 20: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTakkt / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 21: Development of key financials in 2022
Development of key financials in 2022 Free TAKKT Growth EBITDA Dividend cash flow EURm EURm EURm EUR 1,336.8 132.1 70.4 1.00 +13.5% reported +17.3% +35.8% per share +7.5% organic 21 28.03.2023
Slide 22: Good organic growth in all divisions
Good organic growth in all divisions Sales development (in EUR million) +33.4 1,336.8 +29.4 +25.5 +70.5 1,178.0 Sales 2021 Currency effects I&P OF&D FS Sales 2022 22 28.03.2023
Slide 23: Gross profit margin close to target value
Gross profit margin close to target value Gross profit margin development (in percentage points) 40.2% -0.4 -0.2 0.0 -0.3 39.3% (-30 bp) (-170 bp) 2021 Structural I&P OF&D FS 2022 effect 23 28.03.2023
Slide 24: EBITDA growth stronger than sales
EBITDA growth stronger than sales EBITDA development (in EUR million) +53.0 -16.1 -21.1 +3.7 132.1 112.6 Marketing Other EBITDA 2021 Gross profit Personnel Other One-time EBITDA 2022 costs costs effects 24 28.03.2023
Slide 25: Strong increase in free TAKKT cash flow
Strong increase in free TAKKT cash flow Free TAKKT cash flow development Delta 2022 in EUR million 2021 2022 vs 2021 TAKKT cash flow 94.3 115.1 +20.8 Change in net working capital as well as -38.0 -30.7 +7.3 other adjustments Cash flow from operating activities 56.3 84.4 +28.1 Capital expenditure in
Slide 26: Internal covenants: Strong balance sheet
Internal covenants: Strong balance sheet Equity ratio (in %) Debt repayment period (in years) Internal target value: 64.7% 62.2% 62.4% 60.8% 58.5% < 5 years Internal target range: 1.7 30 to 60 percent 1.4 1.4 1.2 0.9 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Interest cover Gearing 23.8 Inter
Slide 27: Dividend proposal for 2022 of EUR 1.00
Dividend proposal for 2022 of EUR 1.00 Dividend proposal & policy Management proposes payment of special dividend (EUR 0.40) in addition to base dividend (EUR 0.60) for 2022 TAKKT commits to pay out at least a base dividend of EUR 0.60 per share in the coming years Possibility of special dividend wh
Slide 28: Agenda
AGENDA I Recap II Vision: New Worlds of Work III Strategy: Growth / OneTakkt / Caring Progress 2022 Priorities 2023 IV Financial Results 2022 V Outlook 2023 28.03.2023
Slide 29: Outlook 2023
Outlook 2023 Economic environment TAKKT’s priorities FY forecast for key financials High level of uncertainty Be flexible and continuously adapt to current conditions Stable organic Inflation will likely remain high sales development Prepare for upswing in H2 after a challenging start to the year Ti
Slide 30: Investment thesis
Investment thesis Addressable market >EUR 100bn Vision: Bringing new worlds of work to life lower e-commerce B2B penetration Strategy: Growth – OneTAKKT – Caring Excellent position to grow in an attractive and Clear vision & growth- fragmented market oriented strategy Good execution Strong balance s
Slide 31: TAKKT investor relations
TAKKT investor relations IR Contact Upcoming Events Michael Loch / Benjamin Bühler April Phone: +49 711 3465-8222 / -8223 27. Quarterly statement 1/2023 Fax: +49 711 3465-8100 e-mail: investor@takkt.de May 24. Shareholders‘ Meeting 2023 www.takkt.com TAKKT AG is headquartered in Stuttgart, Germany.