EQS-Adhoc: TAKKT AG: TAKKT announces preliminary Q3 results and adjusts forecast for fiscal year 2023

EQS-Ad-hoc: TAKKT AG / Key word(s): 9 Month figures/Profit Warning TAKKT AG: TAKKT announces preliminary Q3 results and adjusts forecast for fiscal year 2023 17-Oct-2023 / 14:24 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. TAKKT announces preliminary Q3 results and adjusts forecast for fiscal year 2023 The positive order situation at the beginning of the second half of the year deteriorated noticeably from mid-August onwards. Orders in the European Industrial & Packaging division as well as orders for office equipment from companies and, above all, public entities in the American Office Furniture & Displays division fell significantly short of expectations. In the third quarter, TAKKT generated sales of EUR 313.4 (350.5) million and EBITDA of EUR 30.2 (37.9) million based on preliminary figures. In addition to the strong economic volatility, geopolitical uncertainty is currently intensifying. Due to these changed conditions, the TAKKT Management Board no longer expects demand to pick up in the second half of the year. For the current fiscal year, TAKKT now anticipates an organic decline in sales in the mid-single-digit percentage range (previously: stable to slightly negative development). Due to the lack of growth, the Group is intensifying its cost management. Assuming that the general conditions do not deteriorate further and weigh on the order situation, the Management Board expects EBITDA of between EUR 20 and 30 million in the final quarter. In 2023, EBITDA should thus reach a value of EUR 107 to 117 million (previously: EUR 120 to 130 million). Despite the difficult conditions, TAKKT will generate a significantly higher free cash flow in the current year than in the previous year through focused cash management. The adjustment of the outlook for the current fiscal year and the economic and geopolitical uncertainty have an impact on the Group's medium-term planning. TAKKT is maintaining its growth trajectory, but in the current environment is placing a greater focus on strengthening profitability and cash flow. Due to the challenging environment, TAKKT is no longer adhering to its original financial goals with sales of two billion euros for 2025. Currently, the medium-term corporate goals are being revised. At the end of September, the Management Board and Supervisory Board discussed business development and the transformation to a more integrated company and confirmed the strategy. To continue the strategy, the Supervisory Board extended CEO Maria Zesch's contract by five years until July 31, 2029, thus ensuring the successful continuation of the transformation. TAKKT will announce further details on the implementation of the strategy and the corporate goals at the end of March 2024 together with the forecast for 2024. The quarterly statement with detailed information on business development in the first nine months of 2023 will be published on October 25, 2023. Contact: Benjamin Bühler Head of Investor Relations Presselstr. 12 70191 Stuttgart Germany [phone] End of Inside Information 17-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

Language:	English
Company:	TAKKT AG
	Presselstr. 12
	70191 Stuttgart
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.takkt.de
ISIN:	DE0007446007
WKN:	744600
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
EQS News ID:	1750921

End of Announcement	EQS News Service

1750921  17-Oct-2023 CET/CEST