Press Releases
TAKKT Group's turnover and earnings continue to grow dynamically
Thursday, February 01, 2007
All three divisions improved their key figures
TAKKT remains on the growth track and has again improved its key figures for the financial year 2006. According to preliminary figures the turnover of the international B2B mail order group increased by 24.0 percent to EUR 958.5 (2005: 773.2) million. Group earnings also continued to increase. Profit before tax e.g. rose to EUR 92.9 (78.7) million. All three TAKKT AG divisions contributed to this positive development.
Assuming stable exchange rates consolidated turnover was up by 24.4 percent. Among other things, the acquisition of the National Business Furniture Group (NBF) at the beginning of the year 2006 contributed to this development. Adjusted for acquisition and currency effects TAKKT increased its turnover by 10.1 percent. "Thanks to the perfected business model of B2B mail order TAKKT is recording double-digit growth and therefore by far outpacing the economies we are operating in", explains Georg Gayer, CEO of TAKKT AG. "As a result of the acquisition and in 2006 we have extended our base for further profitable growth."
Based on preliminary figures the Group's EBITDA was up by 21.4 percent to EUR 119.5 (98.4) million. The EBITDA margin was 12.5 (12.7) percent. "Key earnings figures for 2006 impressively show TAKKTâs potential for profitability: despite the acquisition effects and additional expenses for new and young companies we have achieved operational profitability above our long-term target corridor of between ten to twelve percent EBITDA margin", explains TAKKT CFO Dr Florian Funck. "Adjusted for the NBF acquisition the EBITDA margin increased even to 13.2 percent. "Cash flow already at a high level improved again by 24.7 percent and reached a new record at EUR 81.7 (65.5) million.
Continuingly high growth in Q4 The fourth quarter 2006 was extremely positive for TAKKT. Despite the baseline effect of a strong fourth quarter in the previous year turnover still increased by 21.6 percent to EUR 255.7 (210.3) million. Without exchange rate fluctuations and the NBF acquisition the increase would have been 12.5 percent. All three divisions increased their turnovers organically and therefore contributed to the good overall development. Business development in Europe was particularly positive. KAISER + KRAFT EUROPA recorded an increase of 15.5 percent in Q4 and generated turnover of EUR 128.7 (111.4) million. Topdeq also presented good growth with EUR 25.1 (23.7) million turnover being an increase of 5.9 percent over the previous year's quarter. K + K America generated a turnover of USD 131.3 (89.5) million which was also driven by the NBF acquisition and some larger orders. This corresponds to an increase of 46.7 percent. Adjusted for currency and acquisition effects the turnover increase was 9.3 percent. Translated into the reporting currency of euro turnover of the division increased by 35.5 percent from EUR 75.2 to 101.9 million.High profitability increased further Earnings and margins were also up in Q4. EBITDA developed very positively and increased by 30.5 percent to EUR 35.5 (27.2) million compared to the fourth quarter of the previous year. The EBITDA margin increased to 13.9 (12.9) percent. Profit before tax increased from EUR 22.3 to 28.5 million, up 27.8 percent. The profit margin reached 11.1 percent, making double-digits yet again.
NBF acquisition a complete success The integration of NBF Group is continuing to proceed very positively. NBF generated a turnover of more than USD 130 million, making it the US market leader in B2B mail order for office equipment. "The acquisition has positive effects in diversifying TAKKT's customer and industry mix and helps the company to continue to grow dynamically", explains Gayer.
Financial statements press conference Further details about the financial statements and an outlook for 2007 will be published at the financial statements press conference on 22 March 2007 in Stuttgart.
Short profile of TAKKT AG TAKKT AG is the leading B2B mail order company for office, business and warehouse equipment in Europe and North America. The Group is represented in more than 25 countries with its brands. More than 100,000 products make up the product range of its subsidiaries and cover the areas business and warehouse equipment, traditional and design-oriented office furniture and accessories, occupational safety products and sales promotion articles for retailers as well as the food service and hotel market.
TAKKT AG employs about 2,000 members of staff, has about three million customers worldwide and distributes more than 70 million catalogues and mailings every year.
The company is listed on the SDAX and was admitted to Deutsche Boerse's Prime Standard on 1 January 2003.
Media Contact:
Dean Stier
414-276-8511
View all press releases
|
|