Takkt Ag · XETR:TTK
Takkt — Investor Presentation (September 2023)
30 slides from Takkt's investor presentation, September 2023
Slide 1: TAKKT
TAKIT
Slide 2: 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 3: Business model
LT BUSINESS MODEL
Slide 4: 3 Divisions for specific Worlds of Work
3 Divisions for specific Worlds of Work Customers' Manufacturing, Warehouse Service Industry Hotels, Restaurants, Catering industries TAKKT’s divisions Industrial & Packaging Office Furniture & Displays FoodService
Slide 5: Organizational structure
TAKyy; Organizational structure 7) Zz 9 Q 2 fay wn Zz Operations Technology & Data Ss 2 e) ro Human Resources Finance Oz Ww
Slide 6: Addressable market is > EUR 110bn
Addressable market is > EUR 110bn Foodservice Display Market: > EUR Large addressable market Growth in line with or above 50bn Foodservice GDP Canad Fragmented supplier structure a Fragmented competition Office Industrial Fragmented customer segments Office > EUR Market volume 60bn Room to grow for
Slide 7: Current market share around 1%
Current market share around 1% Display FoodService TAKKT EUR Strong presence in all markets (top 10 position in each) 592m Office FoodService Large assortment Canad Strong and long-term a relationship with customers Office Depth of suppliers globally, strong long-term relationships Packaging EUR 745
Slide 8: What drives us: our vision
WHAT DRIVES US: OUR VISION Bringing new Worlds of Work to life
Slide 9: 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 10: 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 11: How we win: our strategy
HOW WE WIN: OUR STRATEGY Growth, OneTAKKT, Caring
Slide 12: 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 13: 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 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: 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 18: 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 19: Financials
LT FINANCIALS
Slide 20: 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
Slide 21: Group: High organic growth
Group: High organic growth Sales (in EUR million) EBITDA (in EUR million) and margin (in %) 132.1 1,336.8 112.6 1,178.0 9.6% 9.9% 2021 2022 2021 2022 Sales increase by 13.5% with positive effects from EBITDA increased to EUR 132.1 (112.6) million, currency fluctuations (6.0%), primarily from a EBITD
Slide 22: 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 23: Financial key figures
Financial key figures 2018 2019 2020 2021 2022 Organic sales development in percent 3.4 -1.4 -11.8 11.4 7.5 Organic growth in order intake via e-commerce 11.6 2.0 -3.6 16.3 1.1 in percent Gross profit margin in percent 41.5 41.3 39.7 40.2 39.3 EBITDA in EUR million 150.1 150.2 92.6 112.6 132.1 TAKKT
Slide 24: Outlook 2023
LT OUTLOOK 2023
Slide 25: Outlook 2023
Outlook 2023 Economic environment TAKKT’s priorities FY forecast for key financials High level of uncertainty - Continuous focus on strategic Stable to slightly volatile customer demand in growth initiatives TAKKT’s markets and regions negative organic Increase gross profit margin sales development
Slide 26: TAKKT share, share buyback, dividend policy and investment thesis
TAKKT SHARE, SHARE BUYBACK, DIVIDEND POLICY AND INVESTMENT THESIS
Slide 27: Information about the TAKKT share
Information about the TAKKT share Total Shareholder Return: TAKKT and indices Shareholder structure 150 35.0% Franz Haniel & Cie. 125 65.0% Free float 100 Analyst recommendations 75 1 50 Buy Hold 25 4 TAKKT DAX MDAX SDAX Average price target of EUR 15.4
Slide 28: Share buyback and dividend policy
Share buyback and dividend policy Share buyback Prolongation of program until the end of 2024, volume remains unchanged, around EUR 16 million are available for further purchases Dividend policy Dividend payment of EUR 1.00 per share for 2022 TAKKT commits to pay out at least a base dividend of EUR
Slide 29: 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 30: TAKKT investor relations
TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 October 25, Earnings Call Q3/23 Fax: +49 711 3465-8100 e-mail: investor@takkt.de November 27, German Equity Forum, Frankfurt www.takkt.com TAKKT AG is headquartered in Stuttgart, Germany. Basic data TAKKT sh