powerpoint-präsentation - takkt · effects (-1.8%). •organic sales decrease by 1.9%. •meg with...
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February 15, 2018
Preliminary results 2017
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
283.3 270.7
Q4/16 Q4/17
33.9 30.6
12.0% 11.3%
Q4/16 Q4/17
Q4 2017: TAKKT Group
February 15, 2018 Earnings call preliminary results 2017 2
Sales (in EUR million)
• Sales decrease by 4.4% mainly due to negative currency effects (-4.6 %). Slightly positive portfolio effect from Mydisplays acquisition (+0.3%).
• Organic sales decline by -0.1%. • Lower number of working days had negative sales impact of
just above 1%. • Order intake with significantly better growth than sales.
• EBITDA margin at 11.3% (12.0%). • Decrease in profitability due to lack of sales growth and
increased digital agenda costs.
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
149.4 151.8
Q4/16 Q4/17
25.2 23.0
16.9% 15.2%
Q4/16 Q4/17
Q4 2017: TAKKT Europe
February 15, 2018 Earnings call preliminary results 2017 3
Sales (in EUR million)
• Sales increase of 1.6% with negative currency effects (-1.1%) as well as a positive acquisition effect from Mydisplays acquisition (+0.5%).
• Organic sales growth of 2.2%. BEG with low single-digit, PSG with mid single-digit organic growth.
• Lower number of working days had negative sales impact of ca. 2%.
• EBITDA margin at 15.2% (16.9%). • Decrease in profitability mainly due to lower gross profit
margin and increased digital agenda costs.
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
133.9 118.9
Q4/16 Q4/17
11.8 10.9
8.8% 9.2%
Q4/16 Q4/17
Q4 2017: TAKKT America
February 15, 2018 Earnings call preliminary results 2017 4
Sales (in EUR million)
• Sales decrease by 11.2%, mainly due to negative currency effects (-8.6%).
• Disappointing organic sales development (-2.6%) despite growth in order intake.
• While order intake showed growth at both REG and OEG, sales development was negative as a result of a shift in project business.
• MEG with stable development and DPG with slight growth.
• EBITDA margin at 9.2% (8.8%). • Positive effect on profitability from lower marketing and
bonus costs overcompensating higher digital agenda costs and lack of sales growth.
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
1,125.0 1,116.1
2016 2017
171.3 150.3
15.2% 13.5%
2016 2017
2017: TAKKT Group
February 15, 2018 Earnings call preliminary results 2017 5
Sales (in EUR million)
• Sales decrease by 0.8% with negative currency effects (-1.3%) as well as a positive acquisition effect from Mydisplays acquisition (+0.1%).
• Organic sales growth with 0.4% in the middle of the adjusted guidance corridor of 0% to 1%.
• EBITDA margin at 13.5% (15.2%). • Positive effect in previous year from adjustments of variable
purchase price liabilities for Post-Up Stand and BiGDUG totaling EUR 8.6 million.
• Adjusted EBITDA margin at 13.5% (14.5%). • Decreased profitability due to slow sales growth as well as
increased digital agenda costs (-0.5%). • Overall digital agenda costs of EUR 7.7m (EUR 2.4m)
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
563.3 575.0
2016 2017
107.1 97.1
19.0% 16.9%
2016 2017
2017: TAKKT Europe
February 15, 2018 Earnings call preliminary results 2017 6
Sales (in EUR million)
• Sales increase of 2.1% with negative currency effects (-0.8%) as well as a positive acquisition effect from Mydisplays acquisition (+0.3%).
• Organic sales growth of 2.6%. • PSG with slightly higher growth than BEG.
• EBITDA margin at 16.9% (19.0%). • Positive effect in the previous year from adjustments of
outstanding variable purchase price liabilities for BiGDUG totaling EUR 4.5 million.
• Adjusted EBITDA margin at 16.9% (18.2%). • Declining profitability mainly due to increased digital agenda
costs and pricing initiative at PSG in Germany.
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
562.0 541.4
2016 2017
77.1
64.8
13.7% 12.0%
2016 2017
2017: TAKKT America
February 15, 2018 Earnings call preliminary results 2017 7
Sales (in EUR million)
• Sales decrease by 3.7% with negative currency effects (-1.8%).
• Organic sales decrease by 1.9%. • MEG with high single-digit decline due to weak customer
demand in food service and food retail industries. Low single-digit organic growth for REG, DPG and OEG.
• EBITDA margin at 12.0% (13.7%). • Positive effect in previous year from adjustments of
outstanding variable purchase price liabilities for Post-Up Stand totaling EUR 4.1 million.
• Adjusted EBITDA margin at 12.0% (13.0%). • Declining profitability due to negative sales growth and
increased digital agenda costs.
EBITDA (in EUR million) and margin (in %)
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
in EUR million 2016 2017
profit 91.4 96.3
+ depreciation +29.2 +27.1
+/- deferred taxes expense/income +5.0 -14.4
TAKKT cash flow 125.6 109.1
2017: TAKKT cash flow
February 15, 2018 Earnings call preliminary results 2017 8
125.6
109.1
11.2% 9.8%
2016 2017
TAKKT cash flow (in EUR million) and margin (in %)
in EUR million 2016 2017
EBITDA 171.3 150.3
- financial result -9.5 -8.2
- current taxes -36.2 -33.0
TAKKT cash flow 125.6 109.1 • Decrease in TAKKT cash flow in line with EBITDA
development.
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
Cash flow generation
February 15, 2018 Earnings call preliminary results 2017 9
in EUR million 2016 2017
TAKKT cash flow 125.6 109.1
Change in net working capital as well as other adjustments
-8.9 -8.7
Cash flow from operating activities 116.7 100.4
Capital expenditure in non-current assets -17.4 -27.8
Proceeds from disposal of non-current assets +0.5 +0.4
Proceeds from disposal of consolidated companies
+1.6 +0.0
Free TAKKT cash flow (for acquisitions, payout to shareholders and loan repayments)
101.4 73.0
• Increase comparable to prior year.
• Increase in capital expenditures due to investments into the digital agenda of EUR 13.2 million in 2017.
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
177.5
135.2
12/31/2016 12/31/2017
55.2% 61.2%
12/31/2016 12/31/2017
Balance sheet
February 15, 2018 Earnings call preliminary results 2017 10
Net financial debt (in EUR million)
• Free TAKKT cash flow was mainly applied to • dividend payment, • repayment of financial liabilities.
• Change in currency rates with positive impact on
net financial debt.
• Profit for the period leads to an increased equity ratio.
Equity ratio (in %)
TAKKT AG
Organic sales growth
Earnings call preliminary results 2017 11
Organic growth 2014 2015 2016 Q1/17 Q2/17 Q3/17 Q4/17 2017
TAKKT Group +5.5% +4.7% +5.2% +4.1% -2.3% -0.1% -0.1% +0.4%
TAKKT Europe +3.3% +0.7% +3.5% +6.6% -2.5% +4.6% +2.2% +2.6%
TAKKT America +8.1% +10.0% +7.0% +1.5% -2.2% -3.8% -2.6% -1.9%
February 15, 2018
Inhaltsfolie mit Bild rechts: Positionierung innerhalb des Inhaltsrasters. Bildmaße: Bild halbe Seite mit Rand: (B x H) 15,2 x 13,3 cm
TAKKT AG
First glance into 2018
• Beneficial market environment for European sales brands in the coming months.
• Picture for the US is less clear at the moment, still uncertainty in some market segments.
• TAKKT expects better year 2018 than 2017.
Earnings call preliminary results 2017 12 February 15, 2018
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
Appendix: Structure of sales growth
February 15, 2018 Earnings call preliminary results 2017 13
in % Q1/17 Q2/17 Q3/17 Q4/17 2017
TAKKT Group in EUR +5.5% -1.5% -2.5% -4.4% -0.8%
organic +4.1% -2.3% -0.1% -0.1% 0.4%
currency +1.4% +0.8% -2.7% -4.6% -1.3%
acquisition/divestment - - +0.3% +0.3% +0.1%
TAKKT Europe in EUR +5.9% -3.2% +4.2% +1.6% +2.1%
organic +6.6% -2.5% +4.6% +2.2% +2.6%
currency -0.7% -0.7% -1.0% -1.1% -0.8%
acquisition/divestment - - +0.6% +0.5% +0.3%
TAKKT America in EUR +5.0% +0.3% -7.9% -11.2% -3.7%
organic +1.5% -2.2% -3.8% -2.6% -1.9%
currency +3.5% +2.5% -4.1% -8.6% -1.8%
acquisition/divestment - - - - -
TAKKT AG
Chartfolie mit Headline: Calibri Regular, 24 pt Farbe Dunkelgrau
TAKKT investor relations
February 15, 2018 Earnings call preliminary results 2017 14
IR Contact
Christian Warns / Benjamin Bühler Phone: +49 711 3465-8222 / -8223 Fax: +49 711 3465-8100 e-mail: [email protected] www.takkt.com TAKKT AG is headquartered in Stuttgart, Germany.
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Basic data TAKKT share Historic share price development (Xetra)
ISIN / WKN / Ticker DE0007446007 / 744600 / TTK
No. shares 65,610,331
Type No-par-value bearer shares
Share capital EUR 65,610,331
Listing September 15, 1999
Index SDAX, prime standard
Designated sponsors Equinet, Oddo Seydler, Hauck & Aufhäuser
TAKKT AG
March 21. Publication of the annual report 2017 and analysts' conference 22. Crédit Mutuel CIC ESN Conference, Paris April 10.-12. Spring Roadshow
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