Subdued demand presses Takkt profits below expectations

Takkt, the specialized provider of office equipment, had to accept a blow to revenue and operating results in the past fiscal year. The management team around Group CEO Maria Zesch attributes the decline to the hesitant investment behavior of companies, which is reflected in more cautious actions and partial staff reductions. The reluctance to spend on office furniture had a direct impact on the supplier's business figures. To counteract the negative trend, Takkt has implemented internal cost-saving measures. Chief Financial Officer Lars Bolscho emphasized the ongoing efforts to optimize the cost structure for the year 2024 as well. Specifically, for the year 2023, a nearly six percent decline in revenue to 1.24 billion euros was recorded, unaffected by currency fluctuations. With regard to earnings before interest, taxes, depreciation, and amortization (EBITDA), the company had to absorb a disproportionately large drop of more than 15 percent, achieving only 111.8 million euros. Takkt's development was thus roughly in line with the adjusted forecasts towards the end of the year. Throughout the year, the board had to repeatedly lower expectations. Despite the decreased profits, Takkt is maintaining its dividend policy. The distribution is set to include a dividend of 1.00 euro per share, as in the previous year, of which 0.40 euros will be paid out as a special dividend to shareholders. The board plans to reveal further details on business development and an outlook for the current year during a presentation on March 28. The final annual figures are also expected to be disclosed at this event.