Q1 statement / Q1 financial report 2026

ǪUARTERLY STATEMENT AS OF MARCH 31, 2026

In the first quarter of the new year, TAKKT generated sales of EUR 225.7 (251.5) million. The 10.3 percent year-over-year decline was attributable to currency effects from the weaker US dollar for just over one-third of the decrease. Organic sales development was minus 6.7 percent, remaining at the same level as the previous year. Adjusted for the discontinuation of the bid contract business in the Foodservices (FS) division, which weighed on the organic growth rate by 1.3 percentage points, the development stabilized slightly. "Given the very high level of geopolitical and economic uncertainty, many of our customers remain cautious and are holding back on major project investments," says CEO Andreas Weishaar. The performance of the European core business in the Industrial & Packaging (I&P) division, with an organic decline of 5.8 percent, was very similar to the previous year. In the US, the performance of the Office Furniture & Displays (OF&D) division improved noticeably. The National Business Furniture brand significantly increased its sales to commercial customers compared to the previous year, thereby offsetting lower demand from government customers and a slight slowdown in the displays business. The division's organic growth rate was only slightly negative at minus 2.1 percent. Performance in the FS division remained challenging, with a currency-adjusted decline of 13.9 percent, and was characterized by low order volumes through the call center in addition to the discontinuation of the bid contract business.

The gross profit margin stood at 39.5 (39.8) percent in the first quarter. While I&P and OF&D were able to maintain or slightly improve their margins, the slight decline at the Group level was influenced by a lower margin in the FS division. Thanks to the measures implemented last year to streamline cost structures and the weaker US dollar, TAKKT was able to reduce marketing and personnel expenses by a total of more than EUR three million, thereby partially offsetting the negative impact on earnings from lower sales and gross profit levels. EBITDA reached EUR 4.4 (11.2) million and, as in the previous year, was impacted by one-time expenses of just over EUR one million. The adjusted EBITDA margin was 2.4 (4.9) percent. Free cash flow was negative in the first quarter, amounting to EUR minus 9.8 (minus 5.0) million.

The general conditions will remain challenging for the rest of the year. "The ongoing conflict in Iran will impact economic development - particularly in Europe - and thus also our customers' demand," says Weishaar. "We had already anticipated a challenging environment at the start of the year and aligned our planning accordingly." TAKKT intends to largely pass on rising product and transportation costs resulting from higher energy costs to customers.

At the same time, the Group is accelerating the implementation of the TAKKT Forward strategy. This includes reviewing smaller and less profitable business activities, as well as intensifying sales efforts through increased customer visits, greater visibility of the sales brands, and improved webshop performance. TAKKT is also working on additional measures to reduce the cost base, such as standardization, automation, and the relocation of transactional processes.

These activities will have an increasingly positive impact on earnings performance over the course of the year. "The first quarter was in line with our expectations. Despite the increased economic risk, we are sticking to our guidance and aim to gradually improve our organic growth rate, profitability, and free cash flow in the coming quarters," says CFO Timo Krutoff. TAKKT continues to expect organic sales development of between minus 7 and plus 3 percent for 2026, an adjusted EBITDA margin in the range of 2 to 5 percent, and positive free cash flow. If the adjusted EBITDA margin falls at the lower end of the aforementioned range, free cash flow may also be slightly negative.

EBITDA reached EUR 4.4 (11.2) million and was impacted by one-time expenses of EUR 1.1 (1.2) million. The EBITDA margin, adjusted for one-time effects, was 2.4 (4.9) percent.

at the end of February. Based on current estimates, economic growth in Germany stagnated in the first quarter, while the Eurozone showed slight growth. In the US, economic momentum remained at a higher level than in Europe.

manufacturing sector (PMI Manufacturing) serve as indicators for I&P's order intake with a lead time of three to six months. In recent months, they have fluctuated around the expansion threshold of 50

Sales in EUR million

EBITDA in EUR million/

(adjusted) margin in %

11.2

4.4%

4.9%

4.4

1.9% 2.4%

251.5

225.7

points for the Eurozone and Germany.

Ǫ1/25

Q1/26

Ǫ1/25 Q1/26

indicator relevant to Central and Hubert, started the year slightly below the reference threshold of 100 points in January, but improved in February and stood at 100.9 points, slightly above the reference value.

percentage points on sales development. Adjusted for this effect, organic growth was minus 6.7 percent and was negatively impacted by 1.3 percentage points due to the discontinuation of the FS bid contract business.

negative across all divisions. OF&D showed significant stabilization, while FS remained in double-digit negative territory. I&P followed a similar trend to the previous year.

percent due to a lower margin at FS.

(2.4) million.

0.2 million, compared to a small tax income of EUR

0.1 million in the prior year.

and was characterized by very cautious demand from customers.

previous year at well over 40 percent.

year, one-time expenses remained well below EUR one million. The adjusted EBITDA margin reached 7.8 (9.7) percent.

Sales in EUR million

EBITDA in EUR million/

(adjusted) margin in %

13.8

(plus 0.5) million.

146.6

138.3

10.2

9.4% 9.7%

7.4% 7.8%

Sales in EUR million

40.8

52.1

EBITDA in EUR million/

(adjusted) margin in %

1.0% 1.0%

Q1/26

Ǫ1/25

-4.9%-4.9%

0.5

Ǫ1/25

Q1/26

Ǫ1/25 Q1/26

while demand from other customer groups remained subdued and the displays business weakened slightly.

Ǫ1/25

Q1/26

-2.0

played a negligible role.

EBITDA in EUR million/

showing a nearly identical trend to the previous year.

Sales in EUR million

46.5

52.8

(adjusted) margin in %

2.2%

2.6%

0.6

2.1%

1.4%

1.1

In 2026, the increase resulted primarily from a rise

in trade receivables compared to a low level at year-end. In the previous year, TAKKT had temporarily built up inventories.

negative, amounting to EUR minus 6.2 (plus 0.7) million.

investing activities was lower than in the previous

Ǫ1/25

Q1/26

Ǫ1/25 Q1/26

year. TAKKT generated a cash inflow of EUR 1.6 million in 2026 from the sale of real estate in the Netherlands.

percent, impacted by the discontinuation of the bid contract business (accounting for 5.8 percentage points) and lower call center order volumes.

previous year's level.

from rent payments for buildings, rose slightly to EUR

4.2 (3.5) million.

Free cash flow

in EUR million

Ǫ1/25

-5.0

Q1/26

-9.8

Net financial liabilities

in EUR million

131.5

138.2

or established providers. TAKKT addresses this risk through regular market and price monitoring, as well as price optimization using AI-based models, continuous improvement of the customer and shopping experience, a focus on the needs of service-and advice-oriented business customers, and the offering of sustainable products.

working to implement various initiatives and projects. On the one hand, these initiatives have the goal to improve sales growth and efficiency and should thus

12/31/2025

3/31/2026

have a positive impact on earnings. On the other

131.5 million at the end of 2025.

opportunity, for the TAKKT Group continues to be the development of the economy.The geopolitical conflict in Iran is currently the most relevant risk factor. As a result, the economic outlook in the markets relevant to TAKKT has recently deteriorated noticeably. In addition to geopolitical conflicts, factors such as rising inflation in the US, central banks' interest rate policies, and trade policies play a role.

share, generate a lower gross margin, or being confronted with rising costs for marketing as a result of more aggressive competitive behavior from new

hand, however, the initiatives also entail significant risks, such as project delays that could result in goals or sub-goals being achieved later than planned or outcomes falling short of expectations. To mitigate these risks, they are centrally planned and managed.

forecasts for 2026 due to the war in Iran. GDP growth is now expected to be 1.8 percent in the U.S., 0.8 percent in the Eurozone, and just 0.4 percent in Germany.

and transportation costs resulting from currently higher energy costs to its customers. At the same time, the Group remains committed to the accelerated implementation of the TAKKT Forward Strategy and will intensify sales activities and implement additional measures to reduce the cost base.

confirms its guidance and aims to gradually improve organic growth, profitability, and free cash flow in the coming quarters.

TAKKT will publish the 2026 half-year financial report on July 30.

Consolidated statement of income in EUR million

Sales

Changes in inventories of finished goods and work in progress Own work capitalized

Gross performance

Cost of sales

Gross profit

Other operating income Personnel expenses Other operating expenses EBITDA

Depreciation, amortization and impairment of property, plant and equipment and other intangible assets

Impairment of goodwill

EBIT

Interest and similar expenses Interest and similar income Other finance result Financial result

Profit before tax Income tax Profit

attributable to owners of TAKKT AG

Weighted average number of issued shares in million Basic earnings per share (in EUR)

Diluted earnings per share (in EUR)

1/1/2025 -

3/31/2025

251.5

0.3

0.1

251.9

- 151.7

100.2

0.9

- 48.7

- 41.2

11.2

- 7.6

0.0

3.6

- 2.0

0.1

- 0.5

- 2.4

1.2

0.1

1.3

1.3

64.0

0.02

0.02

Consolidated statement of financial position in EUR million

Consolidated statement of cash flows in EUR million

Profit

Depreciation, amortization and impairment of Non-current assets

Deferred tax income / expense

Other non-cash expenses and income Result from disposal of Non-current assets Change in Inventories

Change in Trade receivables

Change in Trade payables and similar liabilities Change in Provisions

Change in other assets / liabilities

Cash flow from operating activities

Proceeds from disposal of Property, plant and equipment and intangible assets

Capital expenditure on Property, plant and equipment and intangible assets

Cash flow from investing activities

Proceeds from Financial liabilities Repayments of Financial liabilities Repayments of Lease liabilities

Dividend payments to owners of TAKKT AG

Proceeds from owners of TAKKT AG (Employee shares)

Cash flow from financing activities

Cash and cash equivalents at 1/1

Increase / decrease in Cash and cash equivalents

Non-cash increase / decrease in Cash and cash equivalents

Cash and cash equivalents at 3/31

1/1/2025 -

3/31/2025

1.3

7.6

- 1.3

1.9

- 0.1

- 4.9

1.5

- 3.7

1.4

- 3.0

0.7

0.2

- 2.4

- 2.2

26.0

- 23.1

- 3.5

0.0

0.0

- 0.6

8.1

- 2.1

0.0

6.0

Adress and contact

TAKKT AG

Presselstraße 12

70191 Stuttgart Germany

Investor Relations

phone +49 711 3465-8223

fax +49 711 3465-8104

investor@takkt.de https://www.takkt.de