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Tarkett achieves 12.1% turnover increase in Q2

06.08.2021 − 

In the second quarter Tarkett achieved a turnover rise of 12.1% to €702.4m. Adjusted to account for negative currency effects, turnover improved by as much as 16.2%. However, the increase was achieved on the basis of a comparatively low preceding year’s figure; in the second quarter of 2020 the company had been faced with a 20.5% drop in turnover due to the corona crisis. According to a trading update published on 20 July, the adjusted EBITDA rose by 23.0% to €78.7m. The increase is especially due to floor coverings from the residential segment, whereas business with commercial products is recovering only slowly. In the EMEA division, in which activities in Europe are consolidated, turnover increased by 26.3% to €224.8m. In North America an increase of 18.8% to €192.0m was achieved; adjusted to account for currency effects turnover in this segment exceeded the preceding year’s figure by as much as 28.7%. Turnover in the CIS, APAC & LATAM region increased by 25.6% to €142.1m; on an adjusted basis the increase amounted to 26.7%. Relatively low demand for sport flooring meant that turnover in the sports division dropped by 17.3% to €143.5m; adjusted to account for currency effects the decline was 11.4%.

The increases achieved in the second quarter compensated for the declines in turnover (-8.5%) and adjusted EBITDA (-19.8%) recorded by Tarkett in the first quarter. In the first six months of the current year, total turnover of €1.261bn was generated; corresponding to an increase of 2.0% and of 6.3% on an adjusted basis. Development of the adjusted EBITDA was restricted by the significant increase in raw material prices as well as higher freight costs, nevertheless a considerable improvement of 6.0% to €112.7m was achieved in the accumulated period. The EBITDA margin rose slightly to 8.9%.

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