DGAP-News TAKKT AG: TAKKT expects strong growth and substantially higher earnings in 2021
DGAP-News: TAKKT AG / Key word(s): Annual Report/Forecast
TAKKT expects strong growth and substantially higher earnings in 2021
- Organic sales decline of 11.8 percent in 2020 due to economic impact of the pandemic
- EBITDA of EUR 92.6 million, free TAKKT cash flow rises to EUR 129.8 million
- TAKKT forms a third segment for the activities of Hubert and Central
- For 2021, the Group expects organic growth of between seven and twelve percent and an EBITDA in the range of EUR 100 to 120 million
- Management Board and Supervisory Board propose to the Shareholders' Meeting a total dividend payment of EUR 1.10 per share
Stuttgart, Germany, March 29, 2021. Last year, the pandemic and its economic impact have been a litmus test for TAKKT. The Group, however, was able to draw on the experience from previous crises and benefit from it. TAKKT responded to the crisis very quickly and used the flexibility of the business model to take effective cost-cutting countermeasures. Due to the pandemic, overall organic sales development in 2020 was minus 11.8 percent. "Despite the significant decline in sales and one-time effects, resulting in a negative impact on earnings amounting to EUR 8.6 million, we were able to generate EBITDA of EUR 92.6 million and an EBITDA margin of 8.7 percent. The significant increase in our free cash flow to a record high of EUR 129.8 million was particularly satisfying", explains CEO Felix Zimmermann.
Strategically, the focus in 2020 was the implementation of the new organizational structure. With TAKKT 4.0, TAKKT wants to make the Group more compact, achieve greater scalability of key supporting and non-operational functions and introduce new management methods and processes. Even though the coronavirus has cost considerable time and resources, good progress was made with the implementation of TAKKT 4.0 in the previous year. In the Omnichannel Commerce segment, KAISER+KRAFT is realigning itself in order to achieve stronger growth and greater efficiency in the medium term. In Web-focused Commerce, TAKKT has also made extensive preparations to establish new structures.