EQS-News: TAKKT AG: TAKKT achieves positive free cash flow in the third quarter

TAKKT achieves positive free cash flow in the third quarter

• Organic growth (minus 6.2 percent) and adjusted EBITDA margin (4.3 percent) at very similar levels to the first half of the year
• Good progress in implementing the TAKKT Forward strategy in a persistently challenging market environment
• CEO Andreas Weishaar now leads Industrial & Packaging directly

Stuttgart, Germany, October 28, 2025. The Group’s business performance in the third quarter was in line with expectations. The Industrial & Packaging (I&P) and Office Furniture & Displays (OF&D) divisions continued to stabilize their organic growth rates in a persistently challenging environment. “Our customers continue to remain very hesitant due to economic uncertainty. At the same time, we are seeing progress. In Europe, we are increasingly winning customers from attractive industries such as defense, energy, and technology. In the US, at NBF, we are seeing a stabilization in the business performance despite the restrictive spending behavior of government customers. And in the display business, we delivered positive year-over-year growth,” says Andreas Weishaar, CEO. The FoodService (FS) division’s business declined again compared to a higher prior-year basis after positive growth in the second quarter. EBITDA reached EUR 10.5 (20.5) million in the third quarter. The EBITDA margin, adjusted for one-time effects, was 4.3 (9.0) percent and was impacted not only by the lower sales level but also by a decline in the gross profit margin. After negative cash flow in the first half of the year, TAKKT achieved a positive free cash flow of EUR 7.6 (10.9) million in the third quarter, partly due to the reduction of inventories.

In the first nine months, TAKKT generated sales of EUR 736.3 (798.4) million. The Group’s organic growth rate was minus 6.5 percent. The decline at I&P and FS (both minus 5.5 percent) was in the mid-single-digit percentage range. In the OF&D division, business continued to be impacted by restrictive spending by government customers and declined organically by 10.0 percent. The Group’s gross profit margin reached 39.0 (40.2) percent and was influenced, among other things, by effects from freight and US import tariffs. Significant savings in marketing costs and lower one-time costs enabled TAKKT to partly offset the impact on earnings from lower sales. EBITDA reached EUR 27.3 (50.4) million. One-time costs amounted to EUR 4.2 (10.8) million. The adjusted EBITDA margin reached 4.3 (7.7) percent. Thanks to the positive free cash flow in the third quarter, the Group was able to almost completely offset the cash outflow in the first half of the year. In the first nine months, free cash flow thus totaled minus EUR 1.7 (plus 36.5) million.

The past months, TAKKT continued to make good progress in implementing the Forward strategy developed at the beginning of the year in the areas Focus, Growth, and Performance. “In Germany, we have intensified our sales activities with large and group customers that have strong sales potential. Despite the weak market environment, we are achieving positive growth, underlining our attractive positioning with customers who have complex procurement needs,” says CEO Weishaar. The measures initiated in the middle of the year to implement a new operating model for I&P and a more effective procurement process are also making progress. “We are working consistently to streamline our cost structures. This includes cutting or relocating more than 100 jobs in Europe in the coming months. The resulting savings will give us the flexibility to continue investing in our business and improving our processes and systems in the future,” says CFO Timo Krutoff. As part of the increased focus on the core business, Andreas Weishaar took on the role of Division President I&P at the beginning of September in addition to his responsibilities as CEO. He will now be directly responsible for the group’s largest and most profitable unit.

TAKKT anticipates that economic conditions will remain challenging in the coming months, due to global trade disputes and US import tariffs. “Demand in our key markets remains subdued, with our customers adopting a wait-and-see approach, particularly when it comes to larger orders and project business,” says Weishaar. In this environment, TAKKT is specifying its guidance and expects an organic growth rate of between minus 8.0 and minus 4.0 percent for the full year. The adjusted EBITDA margin is expected to come in towards the lower end of the range of 4.0 to 6.0 percent. TAKKT is working intensively on structural adjustments to improve cost structures, which will result in significant one-time expenses in the fourth quarter. For the full year, the Group expects a similar amount for such expenses as in the previous year (EUR 17.1 million).

TAKKT continues to implement comprehensive measures to reduce net working capital and expects this to have a positive impact on free cash flow in the fourth quarter. The Group has been examining options for additional positive contributions to cash flow in recent weeks, in particular a larger sale-and-lease-back transaction. “Improving our medium- and long-term profitability is a priority for us. After thorough analysis, we have therefore decided against carrying out the transaction. Nevertheless, we will continue to generate a significantly positive free cash flow in the fourth quarter. For the full year, we expect a figure between EUR 10 million and EUR 20 million,” says CFO Krutoff. The decline in sales and earnings, the continuing high level of economic uncertainty, and the ongoing tariff dispute may lead to an increased risk of impairments in the annual impairment tests.

Earnings Call: October 28, 2025 at 2pm (CET)
To participate in the Earnings Call, please register in advance at the following link: Registration Earnings Call

Financial calendar
TAKKT will publish the preliminary figures 2025 on February 24, 2026.

IFRS figures for the TAKKT Group for the first nine months 2025
(in EUR million)

About TAKKT AG
TAKKT AG is the leading omnichannel distributor for business equipment in Europe and North America. The Group is represented in more than 20 countries with its Industrial & Packaging, Office Furniture & Displays, and FoodService divisions. The product range of the subsidiaries comprises more than 400,000 products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The company is represented in the Prime Standard of the German Stock Exchange.

Contact
Benjamin Bühler    

phone +49 711 3465-8223
Email: investor@takkt.de