EQS-News

TAKKT AG: TAKKT strengthens resilience in the first quarter - Seite 2

Another important pillar for TAKKT’s resilience is strong cash flow. Despite the lower EBITDA, the Group generated a significantly higher free cash flow of EUR 21.3 (14.5) million in the first quarter. "Following the already significant reduction in net working capital last year, we were able to free up an additional EUR 14.3 million due to very active inventory management, amongst other. We are also working on further improvements in the cash conversion cycle," Lars Bolscho continues.

After a difficult start to the new financial year, TAKKT expects organic growth to increase over the course of the year. "Demand remains subdued at present. While the indicators relevant to us continue to point to negative growth rates, most forecasts for the eurozone expect GDP growth to improve in the second half of the year. In addition, the basis for comparison will then be significantly lower. We therefore continue to expect a gradual recovery in demand from quarter to quarter," says CEO Zesch. "And we are continuing to work on our strategic topics. At the beginning of the year, we took a major step towards integrating Central and Hubert by harmonizing our IT systems in the FoodService division. In May, we will have completely migrated ratioform's customers to kaiserkraft in the I&P division and discontinue ratioform's independent brand presence. Both of these steps will contribute to our success in the long term but will also bring temporary challenges and have negative effects on our sales development." TAKKT will evaluate and continuously implement further measures to manage its cost structures. In addition to further one-time expenses, this will lead to an increasing reduction in the cost base over the course of the year. "We confirm our forecast of an adjusted EBITDA margin of 8.0 to 9.5 percent for the full year and expect profitability to improve gradually over the course of the year," says CFO Bolscho.

 

 

Earnings Call: April 25, 2024 at 2pm (CEST)

To participate in the Earnings Call, please register in advance at the following link: Registration Earnings Call

 

 

Financial calendar
TAKKT will publish the figures for the first half year on July 25, 2024.