EQS-News: TAKKT AG: TAKKT closes 2025 with positive free cash flow and prioritizes investments in the business model

TAKKT closes 2025 with positive free cash flow and prioritizes investments in the business model

• Organic growth of minus 6.6 percent and adjusted EBITDA margin of 3.8 percent in 2025 in a weak market environment
• Positive free cash flow of EUR 10.3 million to be used for investments in improvements of systems and processes
• After impairments, TAKKT’s balance sheet remains very solid with an equity ratio of 50.6 percent
• Accelerated implementation of the “TAKKT Forward” strategy will shape the 2026 financial year

Stuttgart, Germany, February 23, 2026. TAKKT generated sales of EUR 964.3 (1,052.9) million in 2025, based on preliminary and unaudited figures. Adjusted for currency effects and the sale of Mydisplays, organic sales growth was minus 6.6 percent. EBITDA reached EUR 19.8 (55.7) million. Adjusted for one-off expenses of EUR 16.5 (17.1) million, the EBITDA margin was 3.8 (6.9) percent. By implementing targeted measures to improve the cash conversion cycle, the Group was able to generate strong positive free cash flow in the fourth quarter. In total, TAKKT generated a cash inflow of EUR 10.3 (68.1) million in 2025. “We had expected the market environment to remain challenging at the end of the year and most recently anticipated an organic growth rate of between minus 8 and minus 4 percent,” says CEO Andreas Weishaar. TAKKT expected the adjusted EBITDA margin to be at the lower end of the range of 4 to 6 percent and free cash flow to be between EUR 10 and 20 million.

In the fourth quarter, the Group's organic growth rate was minus 6.7 percent, remaining virtually unchanged from the first nine months. The Industrial & Packaging (I&P) division continued the stabilization seen in the previous quarter. The Foodservices (FS) business remained similarly subdued as in the third quarter. Office Furniture & Displays (OF&D) continued its positive trend with growth in the display business, while NBF was temporarily impacted by the US government shutdown. The implementation of measures to optimize the cost base of TAKKT resulted in one-time expenses of EUR 12.2 (6.4) million in the fourth quarter, with an adjusted EBITDA margin of 2.1 (4.6) percent. “A significant portion of the expenses is related to the implementation of our new operating model in I&P. This includes greater standardization and automation of processes as well as the transfer of certain transactional activities to more scalable structures,” says CFO Timo Krutoff.

As announced in November, TAKKT has recorded goodwill impairments totaling EUR 125.5 million based on updated medium-term planning due to the continued challenging and volatile market environment resulting from tariff disputes. These affect the OF&D and FS divisions and are not cash effective. Even after the impairments, TAKKT’s balance sheet remains very solid with an equity ratio of 50.6 percent.

“Declining employment figures in the German industry, cost-cutting measures by DOGE, the escalating trade conflict, and the government shutdown in the US have caused us to fall significantly short of our original expectations for 2025. At the same time, we have made good progress internally. We have further developed our operating model, sharpened our portfolio, and successfully implemented key initiatives as part of TAKKT Forward. These include strengthening local responsibilities in the divisions, simplifying and refining our product range, and better positioning our brands. We are also sustainably strengthening our performance with process and system improvements, the expansion of automation, and the use of AI," says CEO Weishaar. TAKKT is aligning its activities even more consistently with the needs of B2B customers, while at the same time laying the foundation for more profitable growth and greater efficiency in the coming years.

In the current environment, TAKKT is prioritizing investments in strengthening the business model. The goal is to secure financial flexibility while ensuring the modernization of processes and systems to strengthen the company's competitiveness in the long term. Therefore, the Management Board of TAKKT AG will propose not to distribute a dividend for the 2025 financial year. CEO Andreas Weishaar emphasizes: “We are undergoing a period of profound change and are confident that suspending the dividend is in the best interests of our shareholders in the long term. We will resume our substantial distributions as soon as our earnings and free cash flow allow us to do so on a sustainable basis.”

The economic environment is expected to remain challenging in 2026. TAKKT is prioritizing the accelerated implementation of TAKKT Forward in the current year and expects this to have a positive impact on sales and earnings development over the course of the year. “We expect a subdued start to the new year. However, we are confident that we will continue with the stabilization of sales development and achieve positive growth in the second half of the year,” said Weishaar. The implementation of further measures to improve performance will again be associated with one-time costs. “We currently see only limited potential for an improvement in profitability in 2026, but we expect positive free cash flow again,” adds Krutoff. TAKKT will publish a detailed guidance for 2026 together with the 2025 annual report on March 26 and elaborate on it during the analysts’ conference.

Earnings Call: February 24, 2026 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 annual report 2025 and hold an analysts’ conference call on March 26, 2026.

Preliminary IFRS figures for the TAKKT Group 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 Foodservices 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