Tarkett records increase of 16.5% in fourth quarter

In the fourth quarter, Tarkett achieved turnover growth of 16.5% to €721.5m. Organic turnover, adjusted to account for currency effects as well as other factors, was up 10.5%. Growth thus accelerated significantly again at the end of the year. Tarkett had recorded an increase of 4.2% in the third quarter, 12.1% in the second and a decline of 8.5% in the first quarter. Adjusted EBITDA declined to €41.9m and the corresponding margin to 5.8%. However, the preceding year’s result had included a one-off effect in the amount of €15m, which Tarkett had received from its insurance company in connection with a cyber attack. Excluding this one-off effect, adjusted EBITDA improved slightly in the reporting period.

According to the company, commercial business in particular developed very positively in the fourth quarter. Regarding sales of floor coverings in the residential segment, by contrast, growth was rather moderate. Sales prices, which rose by an average of 6.3% during the quarter, also contributed to the turnover increase. Growth was achieved in all business divisions. In the EMEA division, an increase of 10.0% to €225.9m was recorded; on an adjusted basis, division turnover rose by 9.6%. In the North America division, €180.7m was generated, corresponding to growth of 18.6%, or on an adjusted basis, 13.4%. In the CIS, APAC & LATAM division, turnover increased by 14.5% to €169.9m; on an organic level, however, a decline of 1.2% was recorded. In the sports division, which consolidates business with sport flooring, turnover increased by as much as 28.3% - or 23.7% on an adjusted basis - to €145.0m. Tarkett’s total annual turnover rose by 6.0% to €2.792bn. On an adjusted basis, the growth rate was even slightly higher at +6.4%.

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