TAKKT adjusts Topdeq's goodwill by EUR 12.9 million and has initiated repositioning of the group; 2010 guidance slightly raised

Wednesday, 15. December 2010 13:12
Takkt AG /
TAKKT adjusts Topdeq's goodwill by EUR 12.9 million and has initiated
repositioning of the group; 2010 guidance slightly raised
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Stuttgart/Germany, 15 December 2010. As the performance of the Topdeq group has
continued to develop negatively even after the phase-out of the economic crisis
in 2010, TAKKT will completely write off the group's goodwill amounting to EUR
12.9 million in the fourth quarter. This non-cash item accordingly reduces all
earnings figures of the TAKKT Group below the EBITDA. The Group's equity ratio
will be at around 45 percent even after the goodwill amortisation.

In the third quarter of 2010, TAKKT has initiated a project for repositioning
the Topdeq brand. This includes measures in the areas of assortment, services
and advertising. Even after the adjustment, TAKKT considers the Topdeq group as
an important component of the TAKKT portfolio with positive prospects for the
development of turnover as well as profit.

The goodwill impairment has no effect on the dividend policy or the outlook for
the year 2010: The TAKKT Management Board still aims at proposing a dividend
amounting to the previous year's value to the Supervisory Board and the Annual
General Meeting. The Management Board now assumes organic turnover growth of
around four percent for the financial year 2010 due to the still positive
economic dynamics in Europe and North America. Against this background, the
Management Board assumes that an EBITDA margin of slightly over twelve percent
can be reached. Thereby, it will be again within the long-term target corridor
of twelve to 15 percent.

Short profile of TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business equipment in
Europe and North America. The Group is represented with its brands in more than
25 countries. The product range of the TAKKT subsidiaries comprises some
160,000 items for the areas of business and warehouse equipment, classic and
design-oriented office furniture and accessories, and supplies for retailers,
the food service industry and the hotel market.

TAKKT Group employs some 1,800 staff, has around three million customers
worldwide and distributes more than 55 million catalogues and mailings per year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse's Prime
Standard on 01 January 2003.

Contacts:
Dr Felix A. Zimmermann, CEO
            Tel. +49 711 3465-8201
Dr Florian Funck, CFO
                        Tel. +49 711 3465-8207

Email: investor@takkt.de



--- End of Message ---

Takkt AG
Neckartaltstr. 155 Stuttgart


Listed: Regulierter Markt in Frankfurter Wertpapierbörse;


Press Release as PDF:
http://hugin.info/131631/R/1472790/409336.pdf




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