TAKKT AG TAKKT continues stabilization trend amid volatile market conditions

TAKKT continues stabilization trend amid volatile market conditions

• Improvement in sales development over the course of the year; organic sales 5.4 percent below prior year
• Adjusted EBITDA margin at 3.3 percent through good cost management
• Sale of XXLhoreca as of June 30, 2026
• Guidance confirmed: further stabilization of sales development expected in the second half of the year

Stuttgart, Germany, July 30, 2026. TAKKT continued with the stabilization of sales development in the second quarter. The Group generated sales of EUR 228.1 (240.3) million. Adjusted for currency effects, organic growth was minus 4.1 percent and, as in the first quarter, was negatively impacted by just over one percentage point due to the discontinuation of the bid contract business in the Foodservices (FS) division. In the first half of the year, sales totaled EUR 453.8 (491.7) million. Currency effects had a negative impact of 2.3 percentage points on sales development; organic growth stood at minus 5.4 percent. “Despite the continuing volatility in the economic environment and the negative effects of the war in Iran, we see that the measures we have implemented to stabilize the business are increasingly taking effect. In the second quarter, our European core business, Industrial & Packaging (I&P), recorded higher order intake than in the prior year in most countries. And NBF’s positive growth in office furniture sales has accelerated,” says CEO Andreas Weishaar.
The first half of the year thus presented a varied picture. The I&P division reported organic sales development of minus 4.6 percent. Following the expected slow start, performance stabilized in the second quarter but remained slightly negative. There was a particular decline in sales in the German domestic market. In the US, the Office Furniture & Displays (OF&D) division achieved slightly positive organic growth of 0.9 percent, attributable to the ongoing recovery in the office furniture business. The display business was slightly below the previous year’s level. At FS, performance remained at the level of previous quarters and thus continued to be negative. The division recorded organic decline of 13.7 percent; adjusted for the impact of the discontinuation of the bid contract business, the growth rate was minus 7 percent.
In line with the stabilization of sales development, TAKKT continues to work on streamlining and improving the efficiency of the Group’s operations as part of its Forward strategy. The gross profit margin remained virtually unchanged at 39.6 (39.5) percent. “We are seeing higher freight costs and rising purchase prices in some product groups, particularly for packaging. On the other hand, the changed regulations regarding import duties in the US had a positive impact in the second quarter,” says Weishaar. Through consistent cost management, the Group was able to reduce costs – adjusted for one-time effects – by approximately EUR 9 million in the first half of the year. “A year ago, we began rolling out our new operating model in I&P. This involves a higher degree of automation, greater flexibility, and increased efficiency. Together with the structural adjustments to adapt to the lower business volume, we are fully on track to reduce our cost structures by at least EUR 30 million. These savings enable us to continue investing in the improvement of processes and systems, thereby strengthening the Group’s competitiveness in the long term,” says CFO Timo Krutoff. Thanks to the lower costs, TAKKT was able to largely offset the impact of lower sales on earnings. One-time expenses rose to EUR 6.0 (4.0) million and resulted from measures to further increase efficiency, particularly regarding the warehouse network in Europe. EBITDA reached EUR 9.0 (16.9) million. The adjusted EBITDA margin stood at 3.3 (4.3) percent. Following negative free cash flow at the beginning of the year, TAKKT generated a slight cash inflow in the second quarter. As a result, free cash flow at mid-year stood at EUR minus 9.2 (minus 9.3) million, on the prior-year level.

As part of the Forward strategy, TAKKT has also made progress in streamlining its portfolio and focusing more strongly on strategically relevant activities. Following the sale of MyDisplays and the withdrawal from FS’s low-margin bid contract business, the Group also divested its European foodservice equipment business in the middle of the year. With the sale of XXLhoreca, TAKKT is further reducing the complexity of its portfolio and creating additional flexibility to focus resources more strongly on the European core business of the I&P division as well as on key and profitable activities within the Group.

The general conditions in the markets relevant to TAKKT are expected to remain uncertain in the second half of the year. In particular, it is currently difficult to assess how the conflict in the Middle East will develop and what impact it might have on energy prices, inflation, and customers’ willingness to invest. At the same time, available economic indicators confirm an overall subdued market environment without signaling further deterioration. Against this background, TAKKT confirms its guidance for organic sales development ranging from minus 7 to plus 3 percent and an adjusted EBITDA margin between 2 and 5 percent. “We will continue to work diligently on implementing our go-to-market initiatives in the second half of the year and expect this to lead to further stabilization of sales development. At the same time, we will continue to improve our cost structures and cash generation,” says Weishaar. One-time expenses are expected to be lower than anticipated at the beginning of the year and will be in the high single-digit million-euro range. TAKKT is evaluating options to generate additional cash flow and expects positive free cash flow for the current year. Depending on earnings performance and the timing of additional cash flow contributions, slightly negative free cash flow cannot be ruled out.

Earnings Call: July 30, 2026 at 2pm (CEST)

To participate in the Earnings Call, please register in advance at the following link: Registration Earnings Call

Financial calendar
TAKKT will publish the figures for the first nine months on October 28, 2026.

IFRS figures for the TAKKT Group as of the end of the first half year 2026
(in EUR million)

	Q2/2025	Q2/2026	in %	H1/2025	H1/2026	in %
TAKKT Group sales	240.3	228.1	-5.1	491.7	453.8	-7.7
Organic growth			-4.1			-5.4
Industrial & Packaging	137.5	133.1	-3.2	284.0	271.5	-4.4
Organic growth			-3.4			-4.6
Office Furniture & Displays	48.6	49.2	+1.3	101.4	95.7	-5.6
Organic growth			+4.2			+0.9
Foodservices	54.2	45.8	-15.6	106.3	86.6	-18.5
Organic growth			-13.4			-13.7
Gross profit margin (%)	39.2	39.6		39.5	39.6
EBITDA	5.7	4.6	-20.2	16.9	9.0	-47.0
EBITDA margin (%)	2.4	2.0		3.4	2.0
Adjusted EBITDA margin (%)	3.6	4.1		4.3	3.3
EBIT	-1.7	-1.7	–	1.9	-4.4	< -100
Earnings per share in EUR	-0.04	-0.08	–	-0.02	-0.16	–
Free cash flow	-4.3	+0.6	–	-9.3	-9.2	–

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