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Press Release Tarkett:
Continued growth in the third quarter despite procurement tensions
EBITDA negatively impacted by intensified inflation of procurement and transport costs.
Results for the third quarter of 2021
o Revenue up by +4.2% due to increased sale prices (+3.9%) and growth in volumes (+1.1%)
o Organic growth of +3.2% as compared with Q3 2020 (excluding the sale price effect in the CIS countries, as defined historically)
o Rising inflation in raw materials and transport costs (-71 million euros compared to Q3 2020), of which more than 40% was offset by the increases in sales prices (+30 million euros)
o Continued structural cost reductions, which are expected to be larger than the targeted 50 million euros in reductions in 2021 announced in H1
o Adjusted EBITDA of 74 million euros in Q3 2021, as compared with 118 million euros in Q3 of 2020; 9.2% margin, as compared with 15.2% in Q3 2020
o 2021 adjusted EBITDA and margin expected to be down compared with the previous year (2020: 278 million euros/10.6%), given the inflation in purchasing costs estimated at 170 million euros for the whole year, of which more than 50% expected to be offset by the sale price increases (approximately 90 million euros)
o Tarkett Participation, a company controlled by the Deconinck family and by Wendel, announced on October 25 that it held 90.41% of Tarkett share capital. Minority shareholders of Tarkett now hold less than 10% of share capital and voting rights.
Paris, October 28, 2021: The Supervisory Board of Tarkett (Euronext Paris: FR 0004188670 TKTT), which met today, reviewed the Group’s consolidated results for the third quarter of 2021. The Group uses alternative performance indicators (not defined under IFRS), described in detail in Appendix 1 (page 5 of this document). Adjusted EBITDA, presented below, is after application of IFRS 16.
Read the full version of this press release: https://www.tarkett.com/sites/default/files/2021%20CP/Tarkett_Q3%202021_Results_EN.pdf