Tarkett delivers rise in revenues across all divisions
French group Tarkett experienced growth in all divisions during the first quarter. The EMEA division, which comprises the Europe, Middle East and Africa region, boosted its revenues by 4.7% to €243.4m. The organic growth rate was as high as 7.0%; this growth was primarily trimmed by unfavourable currency effects, especially pertaining to the euro-pound Sterling exchange rate.
Revenues in Tarkett’s second-largest division, North America, rose 1.6% to €190.3m; however, revenues slipped 2.1% on an organic basis. Tarkett attributed this performance to unusually good trends in the same quarter last year when it worked on several major projects. Revenues in the CIS, APAC and LATAM division surged 17.2% to €121.3m. This growth was spurred by factors including significant mark-ups in the CIS region. An organic growth rate of 2.0% was registered. While markets in the CIS and Asia-Pacific regions improved, revenues fell in Latin America. Its Sports division generated revenues of €56.7m in the first quarter – a 6.6% increase and a 3.6% organic growth compared with the same period last year.
On a group-wide scale, Tarkett booked first-quarter revenues of €611.7m, a 6.1% hike compared with the same stretch last year. The organic growth excluding currency effects totalled 2.8%. Adjusted EBITDA improved 14.6% to €51.5m; the margin thus climbed to 8.4 %.