Tarkett Q3 2021 Results: Continued growth in the third quarter despite procurement tensions. EBITDA negatively impacted by intensified inflation of procurement and transport costs.
28 Octobre 2021 - 5:54PM
Tarkett Q3 2021 Results: Continued growth in the third quarter
despite procurement tensions. EBITDA negatively impacted by
intensified inflation of procurement and transport costs.
Press Release Tarkett:
Continued growth in the third quarter despite
procurement tensions
EBITDA negatively impacted by intensified inflation of
procurement and transport costs.
Results for the third quarter of 2021
o Revenue up by +4.2% due to increased sale prices (+3.9%) and
growth in volumes (+1.1%)
o Organic growth of +3.2% as compared with Q3 2020 (excluding
the sale price effect in the CIS countries, as defined
historically)
o Rising inflation in raw materials and transport costs (-71
million euros compared to Q3 2020), of which more than 40% was
offset by the increases in sales prices (+30 million euros)o
Continued structural cost reductions, which are expected to be
larger than the targeted 50 million euros in reductions in 2021
announced in H1o Adjusted EBITDA of 74 million euros in Q3 2021, as
compared with 118 million euros in Q3 of 2020; 9.2% margin, as
compared with 15.2% in Q3 2020o 2021 adjusted EBITDA and margin
expected to be down compared with the previous year (2020: 278
million euros/10.6%), given the inflation in purchasing costs
estimated at 170 million euros for the whole year, of which more
than 50% expected to be offset by the sale price increases
(approximately 90 million euros)o Tarkett Participation, a company
controlled by the Deconinck family and by Wendel, announced on
October 25 that it held 90.41% of Tarkett share capital. Minority
shareholders of Tarkett now hold less than 10% of share capital and
voting rights.
Paris, October 28, 2021: The Supervisory Board
of Tarkett (Euronext Paris: FR 0004188670 TKTT), which met today,
reviewed the Group’s consolidated results for the third quarter of
2021. The Group uses alternative performance indicators (not
defined under IFRS), described in detail in Appendix 1 (page 5 of
this document). Adjusted EBITDA, presented below, is after
application of IFRS 16.
Read the full version of this press
release: https://www.tarkett.com/sites/default/files/2021%20CP/Tarkett_Q3%202021_Results_EN.pdf
- Tarkett_Q3 2021_Results_EN
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