Takkt Ag · XETR:TTK
Takkt — Investor Presentation (September 2025)
44 slides from Takkt's investor presentation, September 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 H1 and Guidance 2025 2
Slide 3: TAKKT Today
TAKKT Today 3 17.09.2025 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 Free cash flow reliability €1.1b €72.8m 122% 25/25 3 16 >400,000 (2024) (2024) conversion rate (2024) years (since IPO) Divisions Brands Products 1
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 17.09.2025 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 17.09.2025 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 17.09.2025 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 17.09.2025 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 17.09.2025 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 17.09.2025 Investor Presentation 2025
Slide 19: Clear financial priorities for sustainable success
Finance Forward Clear financial priorities for sustainable success Growth and Improve Focused Reliable profitability cash investments dividend uplift conversion Above markets growth Cash conversion of up to Increased cash capex Commitment to base >10% EBITDA margin 60% of EBITDA ratio to >2% dividen
Slide 20: Profitability uplift by improving leverage & performance
Finance Forward Profitability uplift by improving leverage & performance Adjusted EBITDA margin 12% >10% 7% TAKKT Today 2028 Long-term Industrial & Packaging 12% 15% 16% Office Furnitures & Displays 7% 9% 11% FoodService 0% 7% 8% 20 17.09.2025 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: TAKKT dividend – stability in volatile environment
Finance Forward TAKKT dividend – stability in volatile environment Dividend policy Dividend proposal Base dividend of €0.60 per share with Dividend payment of €0.60 for FY 2024 possibility of special dividend Dividend yield of ~7% at current share price Dividend history and commitment Commitment
Slide 26: 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% 4.0- margin 6.0% long-term 2024 2025 2028 long-term Conversion up to Free 68 60% of EBITDA cas
Slide 27: Results H1 & Guidance 2025
Results H1 & Guidance 2025 27 17.09.2025 Investor Presentation 2025
Slide 28: Executive Summary Financials Q2
Overview H1 2025 Executive Summary Financials Q2 ECONOMIC SALES GROSS PROFIT ADJUSTED EBITDA FREE CASH FLOW ENVIRONMENT DEVELOPMENT MARGIN MARGIN Continued top line Adjusted EBITDA Negative impact on stabilization with Gross profit margin margin at 3.6% (6.6%) FCF of EUR -4.3m demand due to -5.7% or
Slide 29: Challenging market environment
Overview H1 2025 Challenging market environment Macro Industry Customers Continued high degree PMIs: Positive trend, but values still German manufacturing: of uncertainty and below expansion threshold Negative sales trend volatility Double-digit decline at (-0.2%) and accelerating job I&P competitor
Slide 30: Step-up of TAKKT Forward performance actions
Overview H1 2025 Step-up of TAKKT Forward performance actions Initiated measures to improve cost structures Focus on cash generation Strategic sourcing and 80:20 implementation Net working capital: Structural improvements to significantly Freight & network improvements and optimized fulfillment redu
Slide 31: New Industrial & Packaging Operating Model
Overview H1 2025 New Industrial & Packaging Operating Model I&P Streamlining organization for higher customer focus Core TAKKT External Functions Competence Partner Digitalization of processes to remove Center manual and transactional tasks Improving processes, systems and technologies with partners
Slide 32: Continued top line stabilization in Q2
Financials Continued top line stabilization in Q2 Sales (in €m) EBITDA development (in €m) 260.4 240.3 13.2 -7.9 -1.5 +1.3 -0.5 +1.1 5.7 Q2/24 Q2/25 EBITDA Sales Gross Personnel Marketing one-time EBITDA Q2/24 impact on profit costs and other effects Q2/25 gross profit margin costs Sales was 7.7% be
Slide 33: Lower sales and GPM impacting profitability
Financials Lower sales and GPM impacting profitability Sales (in €m) EBITDA development (in €m) 529.4 491.7 29.9 -15.3 +3.1 16.9 -4.7 +3.3 +0.5 H1/24 H1/25 EBITDA Sales Gross Personnel Marketing one-time EBITDA H1/24 impact on profit costs and other effects H1/25 gross profit margin costs Sales were
Slide 34: Industrial & Packaging
Financials Industrial & Packaging Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 16.3 Continued negative top line performance in a challenging 144.6 137.5 9.9 market environment 11.3% 11.9% Decrease in gross profit margin in 7.2% 8.1% H1 to 42.6% (43.8%) due to investments into grow
Slide 35: Office Furniture & Displays
Financials Office Furniture & Displays Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 4.1 Top line with high single-digit 59.3 3.3 decline at D2G and double-digit 48.6 decline at NBF 8.6% Visible impact from DOGE 7.0% 6.9% 8.0% Gross profit margin in line with expectations at 43.1%
Slide 36: FoodService
Financials FoodService Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) Q2/24 Q2/25 Return to positive organic sales 56.5 54.2 0 0 growth in Q2 vs. a weaker base -0.5 -0.02 Gross profit margin increased to -1 -2.7% -2.3% -0.04 28.0% (26.6%) for H1, slightly -1.5 -4.7% -4.7% -0.06 nega
Slide 37: Cash flow generation
Financials Cash flow generation Free cash flow development (in €m) H1/24 H1/25 Cash flow before change in net Cash flow before change in net working capital 23.5 11.4 working capital impacted by lower EBITDA Change in net working capital as well as other +14.1 -9.3 adjustments Net working capital: T
Slide 38: Balance sheet
Financials Balance sheet Net financial liabilities, of which lease liabilities (in €m) Equity ratio (in %) 154.0 151.0 58.0% 58.8% 55.0% 114.0 60.3 56.8 50.3 06/30/2024 12/31/2024 06/30/2025 06/30/2024 12/31/2024 06/30/2025 Net financial liabilities increased mainly due to Equity ratio towards upper
Slide 39: Environment and priorities in H2
Outlook 2025 Environment and priorities in H2 Economic environment TAKKT’s priorities in H2 Persisting uncertainty due to trade conflict Continued strategy implementation with and tariff impact focus on performance initiatives Continued weakness in European Execution of streamlined I&P operating man
Slide 40: Updated outlook in volatile environment
Outlook 2025 Updated outlook in volatile environment Adjusted Organic EBITDA Free cash flow sales margin Low to mid double-digit EUR Update -9.0% to 4.0% to million amount Scenario -2.0% 6.0% 5-10 days CCC improvement Uncertainty due to tariffs and trade conflicts with continued impact on top line K
Slide 41: TAKKT share and investment highlights
TAKKT share and investment highlights 41 17.09.2025 Investor Presentation 2025
Slide 42: 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 TAKKT DAX MDAX SDAX Average p
Slide 43: Investment highlights
TAKKT share and investment highlights Investment highlights Portfolio focus Market leading Resilient EBITDA Clear Growing demand Attractive and on most attractive position with and cash strategic for sustainable reliable markets… repeat customers… generation… roadmap… solutions… dividends… ...with s
Slide 44: TAKKT investor relations
TAKKT share and investment highlights TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 - October 28, Q3 Earnings Call e-mail: investor@takkt.de - November 24, Eigenkapitalforum, Frankfurt www.takkt.de - December 11, CIC Forum, virtual TAKKT AG is headquart