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Tarkett: development improves further in third quarter

08.11.2019 − 

Tarkett concluded the third quarter with a turnover increase of 8.0% to €907.1m. 2.6% of this figure is attributed to organic growth. In the preceding quarter an improvement in the consolidated net turnover had also been recorded, but this increase was achieved exclusively by means of currency and acquisitions effects. Organic turnover declined slightly in the second quarter.

In terms of the EBITDA, adjusted to account for special effects, an improvement was also achieved again in the third quarter whereas in the preceding quarter a decline had been recorded. Tarkett’s adjusted EBITDA therefore improved by 17.7% to €115.0m. The corresponding margin increased to 12.7%. This improvement is partly due to the transition to the new IFRS 16 reporting standard which was implemented at the start of the year. Calculated on the same basis as last year, the adjusted EBITDA increased by 10.0% to €107.5m and the margin rose to 11.8%.

In the first nine months Tarkett generated turnover of €2.319bn, corresponding to an increase of 7.5%. Organic growth was 1.8% above the preceding year. Concerning the adjusted EBITDA, the group recorded an increase of 13.1% to €241.6m. Excluding the IFRS 16 effect, however, the result only rose by 2.6% to €219.3m. By means of the new Change to Win strategic plan presented in June, Tarkett hopes to reduce costs by a total of some €30m in the 2019 financial year. For the adjusted EBITDA (excluding the IFRS 16 effect), a slight increase is expected.

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