Slide 1: Capital Markets Update 2025 Investor Presentation
Capital Investor Markets Presentation Update 2025: [Strategy Title to be discussed]
Slide 2: Agenda
Agenda 1. TAKKT Today: Business Model 2. “TAKKT Forward” Strategy 3. Finance Forward 4. Results Q1 and Guidance 2025 5. TAKKT share and investment highlights 6. Appendix a. Financials b. Divisions Forward c. IT & Digital Forward 2 Investor Presentation 2025
Slide 3: TAKKT Today
TAKKT Today 3 17.06.2025 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 17.06.2025 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… 8 17.06.2025 Investor Presentation 2025
Slide 9: ..with a wide range of attractive products
TAKKT Today ..with a wide range of attractive products Industrial & Packaging Office Furniture & Displays FoodService 9 17.06.2025 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 17.06.2025 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 17.06.2025 Investor Presentation 2025
Slide 17: Sustainability progress and targets based on SDGs
TAKKT Forward Sustainability progress and targets based on SDGs Main sustainability KPIs Year-end 2024 vs target Target KPI Target year SDGs Affordable and clean energy & Reduction scope 1 & 2 CO2e (vs. 2021) -25% -50% By 2030 Climate actions Share of renewable electricity PV modules installed and o
Slide 18: 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 19: Finance Forward
Finance Forward 19 17.06.2025 Investor Presentation 2025
Slide 20: 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 21: 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% 21 17.06.2025 Investor Presentation 2025
Slide 22: 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 23: 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 24: 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 25: 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 26: 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 27: 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% 6.0- Increase to ~12% margin 8.0% long-term 2024 2025 2028 long-term Conversion up to Free 68 60% of EBITDA cas
Slide 28: Results Q1 & Guidance 2025
Results Q1 & Guidance 2025 28 17.06.2025 Investor Presentation 2025
Slide 29: Executive Summary Q1
Overview Q1 2025 Executive Summary Q1 ECONOMIC SALES GROSS PROFIT Adj. EBITDA FREE CASH FLOW ENVIRONMENT development MARGIN margin Adjusted EBITDA Gross profit margin in Very volatile economic Continued top line margin at 4.9% (7.4%), FCF of EUR -5.0m line with expectations environment with high sta
Slide 30: US tariff rates and mitigation
Overview Q1 2025 US tariff rates and mitigation Status quo Mitigation 25% of 2024 US purchase volume Renegotiation of purchase prices with imported directly from Asia, of which 70% suppliers to share tariff burden from China, impacted by higher tariffs Implementation of price increases for Additiona
Slide 31: Continued top line stabilization on Group level
Financials Continued top line stabilization on Group level Sales (in €m) EBITDA development (in €m) 269.0 16.8 251.5 -7.2 +1.8 11.2 -3.4 +2.5 +0.7 Q1/24 Q1/25 EBITDA Sales Gross Personnel Marketing one-time EBITDA Q1/24 impact on profit costs and other effects Q1/25 gross profit margin costs Sales w
Slide 32: Germany weaker, Nordics/UK more stable at I&P
Financials Germany weaker, Nordics/UK more stable at I&P Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 16.8 154.7 146.6 13.8 10.9% 12.2% 9.4% 9.7% Q1/24 Q1/25 Q1/24 Q1/25 Sales development at minus 5.3% Gross profit margin at 42.4% (43.7%) Organic sales growth at minus 5.7% adjuste
Slide 33: Lead generation and difficult market impact OF&D
Financials Lead generation and difficult market impact OF&D Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 60.3 3.1 52.8 1.1 5.1% 5.5% 2.6% 2.2% Q1/24 Q1/25 Q1/24 Q1/25 Sales development was minus 12.3% Gross profit margin at expected lower level of 42.1% (44.8%) Negative impact fro
Slide 34: FoodService shows stabilized top line
Financials FoodService shows stabilized top line Sales (in €m) EBITDA (in €m), margin (in %), adj. margin (in %) 54.0 52.1 1.8 0.5 3.3% 3.7% 1.0% 1.0% Q1/24 Q1/25 Q1/24 Q1/25 Sales development was minus 3.7% with positive Gross profit margin increased to 30.4% (29.9%) currency effects of 2.5pp Perso
Slide 35: Temporary NWC investments impact cash flow
Financials Temporary NWC investments impact cash flow Free cash flow development (in €m) Q1/24 Q1/25 Cash flow before change of net Cash flow before change in net working capital 13.5 9.4 working capital impacted by lower EBITDA due to weak sales Change in net working capital as well as other +14.3
Slide 36: Stable balance sheet remains largely unchanged
Financials Stable balance sheet remains largely unchanged Net financial liabilities, of which lease liabilities (in €m) Equity ratio (in %) 114.0 117.8 58.8% 59.1% 56.8 55.6 12/31/2024 03/31/2025 12/31/2024 03/31/2025 Net financial liabilities remain at very low level Equity ratio stable at upper en
Slide 37: Clear priorities in a volatile environment
Outlook 2025 Clear priorities in a volatile environment Economic environment TAKKT’s priorities Trade conflicts increasing macro uncertainty, Execute new strategy with streamlined set- economic environment expected to up and focus on Industrial & Packaging remain volatile Diligently implement measur
Slide 38: Guidance with gradual recovery
Outlook 2025 Guidance with gradual recovery Organic Adjusted Free cash flow & sales EBITDA margin EBITDA to FCF conversion 5-10 days CCC improvement Guidance -4.0% to 6.0% to FCF below PY 2025 +6.0% 8.0% 60 to 80% Increased level of uncertainty due to tariffs and trade conflicts KEY TAKE- Continued
Slide 39: TAKKT share and investment highlights
TAKKT share and investment highlights 39 17.06.2025 Investor Presentation 2025
Slide 40: Information about the TAKKT share
TAKKT share and investment highlights Information about the TAKKT share Total Shareholder Return: TAKKT and indices Shareholder structure 2.5% Franz Haniel 150 & Cie. 32.5% Free float 125 65.0% Treasury shares 100 Analyst recommendations 75 50 Buy 2 2 Hold Sell 25 TAKKT DAX MDAX SDAX Average price t
Slide 41: 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 42: TAKKT investor relations
TAKKT share and investment highlights TAKKT investor relations IR Contact Upcoming Events Benjamin Bühler Phone: +49 711 3465-8223 May 21, Shareholders’ Meeting Fax: +49 711 3465-8100 e-mail: investor@takkt.de July 29, Q2 Earnings Call www.takkt.de TAKKT AG is headquartered in Stuttgart, Germany. Ba
Slide 43: Appendix
Appendix 43 17.06.2025 Investor Presentation 2025
Slide 44: Financials
Financials 44 17.06.2025 Investor Presentation 2025
Slide 45: Organic sales growth
Appendix: Financials Organic sales growth Organic growth Q1/24 Q2/24 Q3/24 Q4/24 2024 Q1/25 TAKKT Group -16.5% -19.0% -14.1% -11.5% -15.4% -7.6% Industrial & Packaging -15.0% -15.4% -11.8% -9.4% -13.0% -5.7% Office Furniture & Displays -16.7% -17.3% -20.1% -12.1% -16.9% -13.7% FoodService -20.2% -27
Slide 46: Structure of sales development
Appendix: Financials Structure of sales development Q1/25 TAKKT Group in EUR -6.5% Organic -7.6% Currency +1.4% Acquisition / divestment -0.3% Industrial & Packaging -5.3% Organic -5.7% Currency +0.4% Acquisition / divestment - Office Furniture & Displays -12.3% Organic -13.7% Currency +2.8% Acquisi
Slide 47: E-com growth and share
Appendix: Financials E-com growth and share Organic e-commerce growth of order intake (in %) Share of e-commerce in order intake (in %) 16.3 60.0 60.8 59.0 60.0 57.1 1.1 2020 2021 2022 2023 2024 -3.6 -8.1 2020 2021 2022 2023 2024 -10.6 47 17.06.2025 Investor Presentation 2025
Slide 48: Product range figures
Appendix: Financials Product range figures Share of private labels (in %) Share of direct imports (in %) 29.4 30.4 24.5 26.5 23.3 22.5 24.2 21.7 21.6 19.1 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 48 17.06.2025 Investor Presentation 2025
Slide 49: Value-based figures
Appendix: Financials Value-based figures TAKKT Value Added (in €m) Return on Capital Employed (in %) 2020 2021 2022 2023 2024 8.4 -1.5 8.0 -3.1 5.6 -23.2 -30.6 4.2 2020 2021 2022 2023 2024 -90 -4.9 49 17.06.2025 Investor Presentation 2025
Slide 50: Internal covenants (1/2)
Appendix: Financials Internal covenants (1/2) Equity ratio (in €m) Dept repayment period (in years) 64.7 62.2 62.4 63.8 58.8 2.0 0.8 0.9 0.9 0.9 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Internal target range: 30 to 60 percent Internal target value: < 5 years 50 17.06.2025 Investor Presentat
Slide 51: Internal covenants (2/2)
Appendix: Financials Internal covenants (2/2) Interest cover Gearing 0.3 20.1 14.4 0.2 0.2 0.2 11.0 8.9 0.1 2.5 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Internal target value: > 4 Internal target value: < 1.5 51 17.06.2025 Investor Presentation 2025
Slide 52: Divisions Forward: Industrial & Packaging (I&P)
Divisions Forward Industrial & Packaging (I&P) 52 17.06.2025 Investor Presentation 2025
Slide 53: I&P Today: Leading European distributor
Division Forward – Industrial & Packaging (I&P) I&P Today: Leading European distributor Current strengths Performance 2024 €590m Easy partner for compliant ordering & fulfillment Curated portfolio for indirect spend Sales categories & advanced services Well-established and trusted brands 11.8% End-t
Slide 54: I&P Forward: Optimizer for indirect MRO spend
Division Forward – Industrial & Packaging (I&P) I&P Forward: Optimizer for indirect MRO spend ⟩ Scale large & medium and serve small & mid- ⟩ Enhance supplier mgmt. & sourcing for sized customers via tailored omnichannel procurement savings ⟩ Expand product & service portfolio to address ⟩ Focus & a
Slide 55: I&P in 2028: Initiatives with >300bps EBITDA uplift
Division Forward – Industrial & Packaging (I&P) I&P in 2028: Initiatives with >300bps EBITDA uplift Adjusted EBITDA margin 16% 15% 11.8% 2024 Scale large & Eff. serve Expand & Other Supplier mgmt. Operational Operating Other 2028 Long-term medium small simplify & sourcing excellence & model customer
Slide 56: Tailored omnichannel approach meeting customers' needs
Division Forward – Industrial & Packaging (I&P) Tailored omnichannel approach meeting customers' needs Omnichannel Idea-to-offer Offer-to-order Order-to-cash Aftersales & journey (I2O) (O2O) (O2C) service Proactive & personalized Personalized landing Various order and Dedicated sales manager sized c
Slide 57: House of brands for trust, cross-selling, diff. price levels
Division Forward – Industrial & Packaging (I&P) House of brands for trust, cross-selling, diff. price levels Key takeaways Industrial & Packaging Keep high trust & customer loyalty I through brand positioning (currently ~80% repeat sales) II Benefit from cross-selling potential btw. III other 3rd pa
Slide 58: Portfolio expansion in line with industry-specific needs
Division Forward – Industrial & Packaging (I&P) Portfolio expansion in line with industry-specific needs Direct spend Indirect spend Manufacturer Distributor Marketplace Industrial & Packaging today Tomorrow Tomorrow # product Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat. Cat
Slide 59: Enhanced supplier mgmt. with up to 70bps uplift
Division Forward – Industrial & Packaging (I&P) Enhanced supplier mgmt. with up to 70bps uplift Challenges Levers Objectives Procurement complexity driven by Analog and digital supplier management e.g., global direct sourcing, supplier diversification & integration, co-development Supply chain resil
Slide 60: Streamlining operations for improved performance
Division Forward – Industrial & Packaging (I&P) Streamlining operations for improved performance Starting point (2021) TAKKT Today Target state # Distribution centers (DC) 22 11 Balanced state-of- 1x Geographically Regionally the-art own & 3rd overlapping focused party DCs State of infrastructure Pa
Slide 61: Streamlined operating model with up to 90bps savings
Division Forward – Industrial & Packaging (I&P) Streamlined operating model with up to 90bps savings Simplification of TAKKT Group and 1 Industrial & Packing org. structure operating model Streamlined Up to 90 2 Automation of transactional activities bps margin uplift 3 Outsourcing of back-office pr
Slide 62: Divisions Forward: National Business Furniture (NBF)
Divisions Forward National Business Furniture (NBF) 62 17.06.2025 Investor Presentation 2025
Slide 63: NBF Today: Top 10 commercial furniture player in US
Division Forward – National Business Furniture (NBF) NBF Today: Top 10 commercial furniture player in US Current strengths Performance 2024 ⟩ Broad & commercial quality office furniture selection for €157m modern office needs ⟩ Products ready to ship with reliable & simple delivery Sales ⟩ Hands-on
Slide 64: NBF Forward: National leader for commercial furniture
Division Forward – National Business Furniture (NBF) NBF Forward: National leader for commercial furniture ⟩ Differentiate go-to-market approach for the ⟩ Upgrade tech stack to enable modern and transactional and project customer scalable infrastructure ⟩ Modernize assortment and close ⟩ Enhance mar
Slide 65: NBF in 2028: Initiatives with ~200bps EBITDA uplift
Division Forward – National Business Furniture (NBF) NBF in 2028: Initiatives with ~200bps EBITDA uplift Adjusted EBITDA margin 11% 9% 7.1% 2024 2028 Long-term 65 17.06.2025 Investor Presentation 2025
Slide 66: Divisions Forward: FoodService (FS)
Divisions Forward FoodService (FS) 66 17.06.2025 Investor Presentation 2025
Slide 67: FS Today: Trusted partner for smallware & equipment
Division Forward – FoodService (FS) FS Today: Trusted partner for smallware & equipment Current strengths Performance 2024 ⟩ High customer satisfaction ⟩ Deep functional expertise in market with two strong brands Central & Hubert €230m Sales ⟩ Exclusive end-to-end omnichannel player in the US market
Slide 68: FS Forward: Go-to partner for an extended FS offering
Division Forward – FoodService (FS) FS Forward: Go-to partner for an extended FS offering ⟩ Scale large & medium customers, e.g. by ⟩ Improve lead generation & conversion by digital EDI-connections, microsites enablement of call center ⟩ Enter into new customer segments, e.g. ⟩ Simplify product and
Slide 69: FS in 2028: Initiatives with ~700bps EBITDA uplift
Division Forward – FoodService (FS) FS in 2028: Initiatives with ~700bps EBITDA uplift Adjusted EBITDA margin 8% 7% 5.7% Drop vs. 2023 due to failed commercial integration & system migration 0.1% 2023 2024 2028 Long-term 69 17.06.2025 Investor Presentation 2025
Slide 70: IT & Digital Forward
IT & Digital Forward 70 17.06.2025 Investor Presentation 2025
Slide 71: IT & Digital as backbone to drive future success
IT & Digital Forward IT & Digital as backbone to drive future success IT & Digital as driver for enhanced and IT & Digital as enabler for most differentiating customer experience, automated & digitalized operational leading sales capabilities & operations, excellence across operations, sourcing, and
Slide 72: From a catalogue distributor in the past …
IT & Digital Forward From a catalogue distributor in the past … Idea-to-offer (I2O) Offer-to-order (O2O) Order-to-cash (O2C) Catalog Ordering via phone, email Traditional Orders via phone, fax, Volume Add'l on-site/ email negotiations phone consultation Customer journey in the past 72 17.06.2025 Inv
Slide 73: … to a seamless E2E omnichannel experience today
IT & Digital Forward … to a seamless E2E omnichannel experience today Idea-to-offer (I2O) Offer-to-order (O2O) Order-to-cash (O2C) Personal One click quote to order Relationship Channels landing page Product building comparison Self-service promotion Abandoned cart Delivery Digital reminder tracking
Slide 74: Integrating AI to enhance digital self-service tomorrow
IT & Digital Forward Integrating AI to enhance digital self-service tomorrow Idea-to-offer (I2O) Offer-to-order (O2O) Order-to-cash (O2C) Personal One click quote to order Relationship Channels Product Personalized building landing page Chatbot comparison product selection Online Self-service promot
Slide 75: Seamless omnichannel is enabled by two tech platforms
IT & Digital Forward Seamless omnichannel is enabled by two tech platforms Customer Experience Digital Sales & Platform Marketing Platform Customers benefit Sales force benefits ⟩ Personalized experiences with relevant ⟩ New CRM and marketing automation content & offers, esp. for large customers pla
Slide 76: 'AI-first' to optimize processes and generate savings
IT & Digital Forward 'AI-first' to optimize processes and generate savings 10- Potential P&L impact from more efficient internal processes, e.g., sourcing, supply chain 15%1 management, customer support, support functions through application of AI Use case example: Order entry automation Cleaned Tod
Slide 77: TriCX ensures digitalized E2E processes
IT & Digital Forward TriCX ensures digitalized E2E processes TriCX: Tripling customer experience through a modern and innovate delivery model Idea-to-offer (I2O) Offer-to-order (O2O) Order-to-cash (O2C) Customer Product Product Order Order Order Order Aftersales & need management purchasing fulfillm
Slide 78: Tech partners & digital hubs drive execution speed
IT & Digital Forward Tech partners & digital hubs drive execution speed Smart partnerships & digital hubs …. … to optimize competitive position via tech Leaders in outsourcing Value creation AI & Digital experts unlock scalable innovation Outsourcing non-strategic activities for cost to address our