TAKKT AGM approves ordinary dividend of EUR 0.32 per share

Mittwoch, 04. Mai 2011 12:57
Takkt AG /
TAKKT AGM approves ordinary dividend of EUR 0.32 per share
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Group remains on growth course


Ludwigsburg/Stuttgart, Germany, 04 May 2011. The Annual General Meeting of TAKKT
AG today approved the payment of an ordinary dividend of EUR 0.32 per share. The
dividend thus remains unchanged on the previous year. TAKKT Group increased its
turnover by 9.6 percent to EUR 801.6 million in 2010. TAKKT Group's
profitability improved markedly in 2010, thanks to the optimisation measures
already implemented in the crisis year 2009. Earnings before interest, taxes,
depreciation and amortisation (EBITDA) rose by 46.5 percent to come in at EUR
100.6 million. At 12.6 percent, the EBITDA margin was already back within
TAKKT's own target corridor of twelve to 15 percent in the first year after the
global economic and financial crisis.

With the dividend payment of EUR 0.32 per share as approved by the shareholders,
TAKKT Group adheres to its dividend policy of paying out at least 30 percent of
profits, but not less than in the previous year as ordinary dividend. This means
the Group will pay out around EUR 21 million in total. The payout ratio
corresponds to a good 61 percent of the Group's profits totalling EUR 34.6
million. "This year, too, we would like to give our shareholders the opportunity
to directly participate in the company's success and cash flow. At the same
time, we maintain our financial scope for investments or acquisitions in the
future," said CEO Dr Felix A. Zimmermann.

The shareholders approved all the items on the agenda - including the discharge
of the Management and Supervisory Boards for the 2010 financial year - by a
large majority. The AGM also approved the renewal of the resolution on the non-
individualised disclosure of Management Board remuneration for another five
years.

Growth on all fronts
TAKKT Group increased its turnover by 9.6 percent to EUR 801.6 million in 2010.
Adjusted for currency effects and the Central acquisition, turnover grew by 4.8
percent. In addition to the general economic upturn, a substantial part of the
recovery was due the initiatives of the GROWTH programme introduced in 2009. One
of the key elements in this respect was the increase in online turnover, which
rose by 23.3 percent to EUR 156.5 million in 2010. The proportion of Group
turnover accounted for by e-commerce rose to 19.4 percent in the financial year
2010. "The structure of our key performance indicators reflects the general
market trend towards internet-based business," Zimmermann continued. "But also
the ongoing optimisation and expansion of our traditional multi-channel brands
played a part in our 2010 success."

On average, the two divisions TAKKT EUROPE and TAKKT AMERICA posted similar
levels of organic turnover growth. While all of the TAKKT AMERICA groups showed
positive growth figures, developments at the two TAKKT EUROPE groups diverged
greatly. The Business Equipment Group (BEG), comprising the companies of the
former KAISER + KRAFT EUROPA division, finished the year with a high single-
digit rate of turnover growth, above all attributable to the exceptionally
strong economic development in Germany. The Office Equipment Group (OEG)
respectively the Topdeq brand in Europe performed disappointingly in comparison,
recording a double-digit turnover decline. Consequently, the existing goodwill
of the European OEG was impaired in full, which burdened the result for the year
by EUR 12.9 million.

Already in the second half of 2010, measures to strategically reposition the
Topdeq brand were approved with a view to returning it to profitability. Topdeq
launched a market initiative in mid-March 2011 in order to more consistently
position the brand in the premium segment in the future. The new and much bigger
annual catalogue for 2011 and the simultaneously revised web site back this
claim. In addition, there are new services and a revised marketing strategy. And
in February 2011, the web-only brand Furnandi was launched, in order for the
European OEG to also reach internet-savvy and price-conscious customer groups.

Outlook still positive
Everything is currently pointing towards a continuation of the positive business
development in 2011. The figures for the first quarter published on 28 April
2011 show that growth picked up even more pace in comparison to the previous
quarter. The German market in particular continues to perform impressively
thanks to sustained above-average demand. However, growth is likely to loose
momentum over the course of the year, as the base effect will increase. Given
the good course of business seen in the first quarter and the ongoing positive
economic indicators, the TAKKT Management Board anticipates organic turnover
growth of a good five percent for the Group in the full year 2011.

Irrespective of general economic developments, TAKKT will continue to foster
growth through its own initiatives. In 2011, the particular focus will once
again be on e-commerce. However, the Group is not relying solely on its online
activities, but intends to employ its multi-channel strategy to systematically
integrate all of the existing ways in which the customers engage in business
with the companies. "In our integrated business model, all of our marketing
channels are of equal importance, be it catalogues, web shops or the personal
support by our key account managers. It is our customers themselves who are at
liberty to decide which channel they prefer," said Zimmermann as he set TAKKT
Group's future direction at the AGM.

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 approximately 50 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
Presselstr. 12 Stuttgart


Listed: Regulierter Markt in Frankfurter Wertpapierbörse;


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