TKTT Tarkett

FY 2021 results: Sustained sales growth, in particular in the fourth quarter Profitability negatively impacted by inflation – Continued increases in sale prices

FY 2021 results:

Sustained sales growth, in particular in the fourth quarter

Profitability negatively impacted by inflation – Continued increases in sale prices

FY 2021 results:

• Sustained activity in Q4: revenue up strongly, by +16.5% as compared with Q4 2020, including +6.3% due to increased sale prices
• In 2021, net sales up by +6.0% over the fiscal year (+6.4% at constant exchange rates and scope of consolidation)
• Adjusted EBITDA of €229 million in 2021, or 8.2% of sales
• Unprecedented increases in purchasing costs: €178 million as compared with 2020, in line with the estimates given in Q3, of which €93 million offset by increases in sale prices
• Continued structural cost reductions: €65 million in savings in 2021, bringing the total cost reduction to €143 million in three years, surpassing the initial objective of €120 million over the 2019-2022 period
• Net profit of €15 million in 2021, as compared with a loss of -€19 million in 2020
• Positive free cash flow of €20 million, despite the increase in working capital requirement resulting from activity levels and inflation
• Net debt stable at €476 million, controlled leverage of 2.1x adjusted EBITDA as of the end of December 2021
• Continued increases in sale prices with the objective of neutralizing the impact of inflation on purchasing costs in 2022

Paris, February 16, 2022: The Supervisory Board of Tarkett (Euronext Paris: FR0004188670 TKTT), which met today, reviewed the Group’s consolidated results for the 2021 fiscal year.

Attachment

• Tarkett_FY 2021_Results_EN_2021