TAKKT AGM approves ordinary dividend of EUR 0.32 per share |
Mittwoch, 04. Mai 2011 12:57 |
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Takkt AG / TAKKT AGM approves ordinary dividend of EUR 0.32 per share . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement. 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; Press Release as PDF: http://hugin.info/131631/R/1512241/447786.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Takkt AG via Thomson Reuters ONE [HUG#1512241] |
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