TAKKT AG Lowers Profit Forecast for 2024 Despite Third Quarter Gains

TAKKT AG reported improvements in organic growth and EBITDA margin for the third quarter of 2024. The organic growth rate increased from minus 19.0% in the second quarter to minus 14.1%. Quarterly sales reached EUR 269.0 million with an EBITDA of EUR 20.5 million, reflecting a margin adjustment to 9.0% from the previous 9.7%. Despite these gains, the company anticipates reduced profitability in the final quarter due to a diminished seasonal uptick in order intake and ongoing market challenges.

The full-year organic growth rate is now projected to be between minus 15% and minus 17%, a slight adjustment from earlier predictions. TAKKT maintains a focus on balancing cost management and growth investments, but warns of increased one-time expenses due to structural changes, now estimated at EUR 15 to 20 million. For 2024, the adjusted EBITDA margin is expected to be between 6.3% and 7.1%, down from prior estimates.