Annual results 2023: Organic sales growth of +4.5% driven by record
turnover in the Sports segment. Increase in adjusted EBITDA value
and margin thanks to a very solid performance in Sports and
significant recovery in North America
Tarkett Annual results 2023:
Organic sales growth of +4.5% driven by record turnover
in the Sports segment
Increase in adjusted EBITDA value and margin thanks to a
very solid performance in Sports and significant recovery in North
America
Strong improvement in free cash flow generation and
reduction in debt leverage
Results for 2023
-
Revenue for 2023 is stable compared to 2022, i.e., +0.1%,
but organic growth reached +4.5% taking into account rising volumes
in Sports and the positive effect of the selling price increases
implemented in 2022.
-
Revenue in Q4 2023 down -2.4% compared to 2022 due to
unfavourable currency effects,
but organic growth of +4.1% driven mainly by strong
activity in the Sports segment.
-
Adjusted EBITDA is up significantly: €288 million (8.6% of
sales), an increase of €+53 million (+1.6 margin points) compared
to 2022.
-
Record adjusted EBITDA in Sports and strong improvement in
profitability of flooring in North America.
-
EBIT: €125 million (€+81 million compared to
2022).
-
Net profit (Group share) of €+20 million in 2023, compared
to a loss of €-27 million in 2022
-
Positive free cash flow of €+147 million thanks to good
management of working capital requirements.
-
Net financial debt at €552 million, down by €103 million
compared to 2022, i.e., a financial leverage of 1.9x adjusted
EBITDA at the end of 2023 December.
-
In 2023, Tarkett maintained its A- rating with CDP (Carbon
Disclosure Project), confirming its leadership in climate action
among flooring and sports surfaces manufacturers.
Paris, 15
February 2024: The Supervisory Board of Tarkett (Euronext
Paris: FR0004188670 TKTT), met today and reviewed the Group’s
consolidated results for the 2023 financial year. The Group uses
alternative performance indicators (not defined under IFRS),
described in detail in Appendix 1 on page 6 of this document:
|
In millions of euros |
2023 |
2022 |
Change in % |
|
Revenue |
3,363.1 |
3,358.9 |
+0.1% |
|
Of which organic change |
+4.5% |
+8.9% |
|
Adjusted EBITDA |
287.8 |
234.9 |
+22.5% |
|
% of revenue |
8.6% |
7.0% |
|
Adjusted EBIT |
154.1 |
85.8 |
+79.6% |
|
% of revenue |
4.6% |
2.6% |
|
EBIT |
125.1 |
44.4 |
+181.8% |
|
% of revenue |
3.7% |
1.3% |
|
Net profit attributable to shareholders of the
company |
20.4 |
-26.8 |
- |
|
Fully diluted earnings per share (€) |
+0.31 |
-0.41 |
|
Free cash flow |
-147.1 |
-148.3 |
- |
|
Net debt |
551.7 |
654.8 |
- |
|
Leverage (Net debt/adjusted EBITDA over 12 months) |
1.9x |
2.8x |
|
|
- Fourth quarter revenue and
adjusted EBITDA by segment
Net revenue of the Group
amounted to €770.5 million, down -2.4% compared to the fourth
quarter of 2022. Organic growth stood at +4.1% excluding selling
price increases in the CIS region. Over this period, volumes rose
by +3.2%, supported by the dynamism of the Sports segment and the
good performance of activity in CIS, offsetting a decline in
activity in EMEA where demand remains low. The Commercial segments
in North America grew, but this performance did not offset the weak
activity in Residential and, to a lesser extent, Hospitality.
Selling prices (+0.9%) were stable compared to the previous
year.
|
Revenue in millions of euros |
Q4 2023 |
Q4 2022 |
Change |
Of which organic growth |
|
EMEA |
197.7 |
204.9 |
-3.5% |
-3.2% |
|
North America |
202.7 |
221.5 |
-8.5% |
-3.6% |
|
CIS, APAC & Latin America |
155.0 |
170.7 |
-9.2% |
+9.2% |
|
Sports |
215.1 |
192.5 |
+11.8% |
+16.4% |
|
TOTAL |
770.5 |
789.5 |
-2.4% |
+4.1% |
Group adjusted EBITDA rose
sharply to €50.7 million, i.e., 6.6% of sales, compared to €25.1
million in the fourth quarter of 2022, i.e., 3.2% of sales.The
positive impact of volumes and lower material costs were the main
contributors to the improvement in adjusted EBITDA over the
quarter, offsetting inflation in other purchasing costs and
salaries.
|
Adjusted EBITDA in millions of
euros |
Q4 2023 |
Q4 2022 |
Margin 2023 |
Margin 2022 |
|
TOTAL |
50.7 |
25.1 |
6.6% |
3.2% |
1. Group results in 2023
Net revenue of the Group
amounted to €3,363 million, up slightly by +0.1% compared to 2022.
Organic growth reached 4.5% and remains unchanged including selling
price increases in the CIS region (selling price adjustments in the
CIS countries are historically intended to offset currency
movements and are therefore excluded from the organic growth
calculation).
The effect of selling price increases mainly
implemented during the second half of 2022 is on average +3.9% over
2023 and contributed mainly to the first half of the financial
year. Volumes were generally stable over the entire year with
contrasting situations depending on activities and geographies.
Sports experienced strong growth again (+20.2%), volumes in CIS
improved after the sharp fall in 2022 and North American Commercial
activity held on track over the financial year in a market that
remains complicated. On the other hand, Residential activities in
North America and Europe fell sharply as a result of the drop in
real estate transactions. The currency effect was unfavourable over
the year (-4.5%), mainly due to the depreciation of the rouble and
the dollar.
|
Revenue in millions of euros |
2023 |
2022 |
Change |
Of which organic growth |
Organic change incl. CIS price changes
(1) |
|
EMEA |
850.2 |
912.3 |
-6.8% |
-5.5% |
-5.5% |
|
North America |
889.2 |
923.7 |
-3.7% |
-1.3% |
-1.3% |
|
CIS, APAC & Latin America |
598.5 |
652.8 |
-8.3% |
+5.9% |
+5.4% |
|
Sports |
1,025.2 |
870.2 |
+17.8% |
+20.2% |
+20.2% |
|
Group Total |
3,363.1 |
3,358.9 |
+0.1% |
+4.5% |
+4.4% |
Adjusted EBITDA amounted to
€287.8 million, i.e., 8.6% of revenue, compared to €234.9 million
in 2022, i.e., 7.0% of revenue.
The combined effect of the decrease in volumes
and the product mix on EBITDA is €-48 million. This unfavourable
mix effect between the divisions reflects the lower variable cost
margins in the Sports segment, particularly on installation and
civil engineering services for turnkey projects.
Raw material, energy and transport prices began
to decline in the second half of the year in particular, with a net
positive effect over the year of €+76 million compared to 2022.
However, wage inflation remained very significant.
The selling price increases deployed during the
2022 financial year led to a positive effect of +131 million euros
in 2023. SG&A is rising (€-29 million) to support the growth of
Sports and the launch of new collections in flooring.
Currency effects, excluding CIS, had a negative
€-11 million impact compared to 2022, mainly due to the
depreciation of the dollar. The net effect of prices and currencies
in the CIS countries (“lag effect”) amounts to €-25 million due to
the significant devaluation of the rouble.
Adjusted EBITDA margin increased over the year
(8.6% of sales compared to 7.0% in 2022).
|
Adjusted EBITDA in millions of
euros |
2023 |
2022 |
Margin 2023 |
Margin 2022 |
|
EMEA |
74.5 |
76.6 |
8.8% |
8.4% |
|
North America |
77.6 |
44.0 |
8.7% |
4.8% |
|
CIS, APAC & Latin America |
86.7 |
84.8 |
14.5% |
13.0% |
|
Sports |
114.5 |
86.5 |
11.2% |
9.9% |
|
Central |
-65.6 |
-57.0 |
- |
- |
|
TOTAL |
287.8 |
234.9 |
8.6% |
7.0% |
EBIT amounted to €125.1 million
in 2023: a significant increase compared to 2022 (€44.4 million).
EBIT adjustments (detailed in Appendix 1) amounted
to €29.0 million in 2023 compared to €41.4 million in 2022. They
mainly consist of restructuring costs linked to the implementation
of savings plans and the discontinuing of underperforming
activities.
Financial result stood at
€-69.2 million in 2023, compared to €-51.3 million in 2022.The
increase in the cost of debt is due to the rise in financial
interest net of hedging effects. This increase is mainly due to the
rise in average gross debt over the first half of the year and
higher financing costs.The tax burden amounted to
€35.4 million in 2023, up on the previous year (€18.1 million) due
to the increase in taxable income in North America (USA and Canada)
with the good performance of Sports and flooring
activities.The net profit (Group share) for the
2023 financial year is a profit of €20.4 million, i.e., a diluted
earnings per share of €0.31 up on 2022.
Comments by segment
The EMEA segment achieved a
turnover of €850 million, down -6.8% compared to 2022, including an
unfavourable exchange effect of -1.3% and negative organic growth
of -5.5%. The economic context of high inflation and interest rates
is hindering renovation and new construction projects throughout
the area. Activity in the Residential segment was significantly
lower than in 2022 and the decline in sales is marked by an
unfavourable product mix, with vinyl rolls performing better than
more expensive categories such as parquet. In a difficult market
environment, activity in the Commercial segments is showing only a
slight decline compared to 2022 due to steady volumes in the two
main activities, vinyl products for the Healthcare and Education
sectors and carpets for Workplace.
The segment’s adjusted EBITDA amounts to €75
million, i.e. 8.8% of sales, compared to €77 million (8.4% of
sales) in 2022. The drop in volumes was offset by a positive
inflation balance driven by the positive effect of selling price
increases implemented in 2022 over the first half of 2023 and the
drop in material prices over the second half.
The North American segment
generated a turnover of €889 million, down -3.7% compared to 2022,
with a negative exchange effect linked to the depreciation of the
dollar against the euro (-2.4%) and a negative organic growth of
-1.3%. Commercial segment (Workplace, Healthcare, Education) demand
has been slow but the Group has delivered volume growth driven by
Accessories and Carpet Tiles. Conversely, volumes in the
Residential and Hospitality segments are down in a market where
demand is still suffering from inflation and the level of interest
rates.
The segment’s adjusted EBITDA rose sharply to
€78 million, i.e., 8.7% of sales, compared to €44 million (4.8% of
sales) in 2022. The improvement is due to the favourable effects of
volumes, the product mix, but also a positive inflation balance
driven by on-board price increases in the previous year and the
inflexion of material costs compared to last year. The segment also
benefits from initiatives to turn around certain activities both in
terms of sales and industrial
efficiency.
Revenue in the CIS, APAC and Latin
America segment amounted to €599 million, down -8.3% with
a very unfavourable exchange effect mainly resulting from the
depreciation of the rouble (-27% compared to 2022). Activity was
well positioned with organic growth of +5.9% (excluding selling
price effects in CIS countries). It benefits from the improvement
in volumes in Russia and Ukraine compared to 2022, which had been
marked by a significant decline compared to 2021. These countries
represent 8% and 0.7% respectively of the Group’s sales over the
year. Vinyl rolls and LVT tiles for the Residential market were the
drivers of the business, accompanied by reactive price management
to secure volumes. In Asia, activity was down, mainly due to a
marked drop in sales in China. In order to optimise its cost base,
the Group closed the commercial carpet production site located in
Suzhou (China). Latin America is stable compared to 2022 with a
slight drop in volumes offset by price increases.
Adjusted EBITDA for the CIS, APAC, Latin America
segment is slightly improving: €87 million, i.e., 14.5% of sales,
compared to €85 million (13.0% of sales) in 2022. The increase in
margin comes from lower material purchase prices and improved plant
productivity.
Revenue in the Sports
segment stood at a record level of €1,025 million,
a very strong increase of +17.8% compared to 2022, including +20.2%
organic growth. The market continues to be very dynamic,
particularly for synthetic turf sports fields and athletics tracks
in North America. The segment also benefited from price increases
which more than offset inflation in raw material costs.
As a result of this very sustained activity, the
Sports segment posts a clear increase in adjusted EBITDA: €114.5
million, i.e., 11.2% of sales compared to €86.5 million (9.9% of
sales) in 2022.
2. Balance Sheet and Cash Flow
2023
Working capital requirements
stood at €118 million at the end of December 2023 compared to €233
million at the end of December 2022, an improvement of €115 million
over the financial year. The Group has implemented significant
actions to reduce the volume of inventories, which represent 80
days at the end of December 2023, compared to 86 days at the end of
December 2022. These actions, in addition to the fall in the
purchase price of raw materials, reduced the value of inventories
by -€85 million to €453 million at the end of December 2023.
Increased payment terms granted by major suppliers have also
contributed to lower working capital requirements. Factoring
programmes represented a net financing of €161 million at the end
of December 2023, a slight decrease compared to the end of December
2022 (€166 million).
Capital expenditure amounted to
€92.9 million in 2023 compared to €96.7 million in 2022.
The Group generated a positive free cash
flow of €147.1 million for the year, a very strong
increase compared to 2022 (-148.3 million euros) thanks to the
improvement in EBITDA and the significant reduction in working
capital requirements.
Net financial debt amounted to
€552 million at the end of December 2023, compared to €655 million
at the end of December 2022, i.e., a decrease of -103 million
euros. The leverage stood at 1.9x the adjusted
EBITDA at the end of December 2023, i.e., a sharp decrease of
-0.9x.
At the end of the 2023 financial year, the Group
had a good level of liquidity amounting to €656
million comprising the undrawn RCF in an amount of €350 million at
the end of December 2023, other confirmed and unconfirmed credit
lines in an amount of €82 million and €224 million in cash.
3. Dividends
As the macroeconomic and market environment
remain uncertain, and with a view to preserving cash flow in 2024
and consolidating the recovery initiated in 2023, the management
board will not propose paying a dividend for the 2023 financial
year.
4. 2024 Outlook
In a complex and uncertain geopolitical and
macroeconomic environment, Tarkett does not expect market
conditions to improve in the short term.
Demand in EMEA is expected to remain low in the
coming months given the persistence of high interest rates, the
continued low number of real estate transactions and the
difficulties in the construction sector. In this area, the Group
will continue to adapt its production and cost structure to market
conditions.
In North America, the indicators for the
Residential market remain dormant, but the Group’s limited exposure
to this segment and its differentiating positioning on certain
distribution channels should allow favourable development in this
activity. The Commercial segments have been better oriented in
recent months without any clear signs of recovery being identified,
particularly given the weakness of office property. Nevertheless,
the Group’s objective is to continue the momentum initiated in 2023
in order to gain market share and continue to strengthen its
profitability.
The Sports segment has experienced exceptional
growth over the past two years, which is expected to continue in
2024 but at a less sustained pace. These prospects should enable
the further improvement of the results in this segment.
In this complex market environment, Tarkett is
maintaining its operational and financial recovery roadmap launched
in 2023. After the very strong cash generation in 2023, the Group
continues to aim for positive cash generation and deleveraging
through rigorous control of working capital requirements and costs,
as well as control of investments allocated as a priority to
innovative, growth and productivity projects.
This press release may contain forward-looking statements. These
statements do not constitute forecasts regarding results or any
other performance indicator, but rather trends or targets. These
statements are by their nature subject to risks and uncertainties
as described in the Company’s Registration Document available on
its website (https://www.tarkett-group.com/en/category/urd/). They
do not reflect the future performance of the Company, which may
differ significantly. The Company does not undertake to provide
updates to these statements.
Auditing procedures on the consolidated
financial statements have been performed. The statutory auditor's
report is currently being issued, and consolidated financial
statements for 2023 are available on Tarkett’s website
https://www.tarkett-group.com/en/document/?_categories=financial-documents
Financial calendar
- 25 April 2024:
Q1 2024 Revenue - Press release after close of trading
- 26 April 2024:
Annual General Meeting
- 25 July 2024:
Financial results for H1 2024 - Press release after close of
trading
- 24 October 2024:
Q3 2024 Revenue - Press release after close of trading
Investor Relations and Individual Shareholders
Contact
investors@tarkett.com
Media ContactsBrunswick –
tarkett@brunswickgroup.com – Tel.: +33 (0) 1 53 96 83 83Hugues
Boëton – Tel.: +33 (0) 6 79 99 27 15 – Benoit Grange – Tel.: +33
(0) 6 14 45 09 26
About TarkettWith a 140-year
history, Tarkett is a worldwide leader in innovative and durable
flooring and sports surface solutions, generating a turnover of 3.4
billion euros in 2023. The Group has around 12,000
employees and 23 R&D centres, 8 recycling centres and 34
production sites. Tarkett designs and manufactures solutions for
hospitals, schools, housing, hotels, offices, shops and sports
fields, serving customers in more than 100 countries. To
build “The Way to Better Floors”, the Group is committed to the
circular economy and sustainable development, in line with its
Tarkett Human-Conscious Design® approach. Tarkett is listed on the
Euronext regulated market (compartment B, ISIN: FR0004188670,
ticker: TKTT). www.tarkett-group.com
Appendices
1/ Definition of alternative performance indicators (not
defined under IFRS)
- Organic growth
measures the change in revenue compared with the same period in the
previous year, excluding the exchange rate effect and changes in
scope. The foreign exchange effect is obtained by applying the
previous year’s exchange rate to sales for the current year and
calculating the difference with sales for the current year. It also
includes the effect of price adjustments in the CIS countries
intended to offset the change in local currencies against the euro.
In 2023, a €-3.1 million negative impact of selling price
adjustments is excluded from organic growth and included in the
foreign exchange effect.
- The scope effect
is composed of:
- current year sales by entities not
included in the scope of consolidation in the same period of the
previous year, until the anniversary of their consolidation, the
reduction in sales due to discontinued operations that are not
included in the current year's scope of consolidation but were
included in sales for the same period of the previous year, until
the anniversary of their disposal.
|
In millions of euros |
2023 Turnover |
2022 Turnover |
Change |
Of which volume |
Of which selling prices |
Of which CIS selling prices |
Of which exchange rate effect |
Of which scope effect |
|
Group Total Q1 |
698.5 |
684.7 |
+2.0% |
-7.8% |
+6.9% |
+0.4% |
+2.3% |
+0.2% |
|
Of which organic growth |
-0.9% |
|
|
|
|
Of which selling price increases |
|
+7.3% |
|
|
|
Group Total Q2 |
909.8 |
879.3 |
+3.5% |
+2.4% |
+5.2% |
-1.2% |
-2.9% |
+0.0% |
|
Of which organic growth |
+7.5% |
|
|
|
|
Of which selling price increases |
|
+4.0% |
|
|
|
Group Total H1 |
1,608.3 |
1,564.0 |
+2.8% |
-2.1% |
+5.9% |
-0.4% |
-0.7% |
+0.1% |
|
Of which organic growth |
+3.9% |
|
|
|
|
Of which selling price increases |
|
+5.5% |
|
|
|
Group Total Q3 |
984.3 |
1,005.4 |
-2.1% |
+2.8% |
+3.1% |
-0.2% |
-7.8% |
+0.0% |
|
Of which organic growth |
+6.0% |
|
|
|
|
Of which selling price increases |
|
+2.9% |
|
|
|
Group Total Q4 |
770.5 |
789.5 |
-2.4% |
+3.2% |
+0.9% |
+0.8% |
-7.6% |
+0.2% |
|
Of which organic growth |
+4.1% |
|
|
|
|
Of which selling price increases |
|
+1.7% |
|
|
Group Total H2 |
1,754.8 |
1,794.9 |
-2.2% |
+3.0% |
+2.1% |
+0.2% |
-7.7% |
+0.1% |
|
Of which organic growth |
+5.1% |
|
|
|
|
Of which selling price increases |
|
+2.4% |
|
|
Group Total |
3,363.1 |
3,359.9 |
+0.1% |
+0.6% |
+3.9% |
+0.0% |
-4.4% |
+0.1% |
|
Of which organic growth |
+4.5% |
|
|
|
|
Of which selling price increases |
|
+3.9% |
|
|
- Adjusted
EBITDA is the operating result before depreciation and
amortisation restated for the following income and expenses:
restructuring costs with the aim of increasing the Group’s future
profitability, gains and losses on significant asset disposals,
provisions and reversals of provisions for impairment, costs
related to business combinations and legal reorganizations,
expenses related to share-based payments and other one-off expenses
considered non-recurring by their nature.
|
In millions of euros |
Adjusted EBITDA 2023 |
Adjusted EBITDA 2022 |
Margin 2023 |
Margin 2022 |
|
Group Total – Q1 |
31.8 |
37.3 |
4.6% |
5.5% |
|
Group Total – Q2 |
94.2 |
88.9 |
10.4% |
10.1% |
|
Group Total – H1 |
126.1 |
126.2 |
+7.8% |
8.1% |
|
Group Total – Q3 |
110.9 |
83.6 |
11.3% |
8.3% |
|
Group Total – Q4 |
50.7 |
25.1 |
6.6% |
3.2% |
|
Group Total – H2 |
161.7 |
108.7 |
9.2% |
6.1% |
|
Group Total |
287.8 |
234.9 |
8.6% |
7.0% |
|
In millions of euros |
of which adjustments |
|
2023 |
Restructuring |
Gains/losses on asset disposals/impairment |
Business combinations |
Share-based payments |
Other |
2023 adjusted |
|
EBIT |
125.1 |
8.4 |
3.2 |
- |
9.6 |
7.8 |
154.1 |
|
Impairment, amortisation and depreciation |
133.2 |
- |
-1.2 |
- |
- |
- |
132.0 |
|
Other |
1.7 |
- |
- |
- |
- |
- |
1.7 |
|
EBITDA |
260.0 |
8.4 |
2.0 |
- |
9.6 |
7.8 |
287.8 |
|
In millions of euros |
of which adjustments |
|
2022 |
Restructuring |
Gains/losses on asset disposals/impairment |
Business combinations |
Share-based payments |
Other |
2022 adjusted |
|
EBIT |
44.4 |
18.7 |
7.3 |
0.5 |
6.3 |
8.6 |
85.8 |
|
Impairment, amortisation and depreciation |
152.0 |
-2.2 |
0.3 |
- |
- |
- |
150.1 |
|
Other |
-1.0 |
- |
- |
- |
- |
- |
-1.0 |
|
EBITDA |
195.4 |
16.5 |
7.7 |
0.5 |
6.3 |
8.6 |
234.9 |
- Free
cash flow is defined as cash generated from operations
before change in working capital, plus or minus the following
inflows and outflows: change in working capital, repayment of lease
liabilities, net interest received (paid), net tax collected
(paid), various operating items collected (disbursed), acquisition
of intangible assets and property, plant and equipment, and income
(loss) from fixed asset disposals.
|
Free cash flow (in millions of euros) |
2023 |
2022 |
|
Cash flow from operations before change in working capital
and repayment of lease liabilities |
259.5 |
182.6 |
|
Repayment of lease liabilities |
-39.8 |
-35.1 |
|
Cash flow from operations before change in working capital;
including repayment of lease liabilities |
219.7 |
147.5 |
|
Change in working capital |
117.9 |
-134.7 |
|
of which change in factoring programmes |
-4.9 |
4.2 |
|
Net interest paid |
-46.2 |
-31.2 |
|
Net tax paid |
-45.0 |
-24.0 |
|
Miscellaneous operating items paid |
-7.8 |
-11.8 |
|
Acquisition of intangible assets and property, plant and
equipment |
-92.9 |
-96.7 |
|
Proceeds from disposal of property, plant and equipment |
1.2 |
2.5 |
|
Free cash flow |
147.1 |
-148.3 |
- Net financial debt
is defined as the sum of interest bearing loans and borrowings
minus cash and cash equivalents. Borrowings correspond to any
obligation to repay funds received or raised that are subject to
repayment terms and interest. They also include liabilities on
leases.
- Financial leverage
is the ratio of net financial debt, including leases accounted for
as per IFRS 16, to adjusted EBITDA over the last 12 months.
|
In millions of euros |
|
31 December 2023 |
31 December 2022 |
|
Financial debts - long term |
|
592.6 |
711.0 |
|
Financial debts and bank overdrafts - short term |
|
40.0 |
45.2 |
|
Financial debts excluding IFRS 16 (A) |
|
632.6 |
756.2 |
|
Lease liabilities - long term |
|
111.8 |
91.7 |
|
Lease liabilities - short term |
|
31.6 |
27.7 |
|
Lease liabilities - IFRS 16 (B) |
|
143.4 |
119.4 |
|
Gross debt - long term |
|
704.4 |
802.7 |
|
Gross debt - short term |
|
71.6 |
72.9 |
|
Gross debt (C) = (A) + (B) |
|
776.0 |
875.6 |
|
|
|
|
|
|
Cash and cash equivalents (D) |
|
224.3 |
220.8 |
|
|
|
|
|
|
Net debt (E) = (C) - (D) |
|
551.7 |
654.8 |
|
|
|
|
|
|
Adjusted EBITDA 12 months (F) |
|
287.8 |
234.9 |
|
|
|
|
|
|
Ratio (E) / (F) |
|
1.9x |
2.8x |
2/ Bridges in millions of euros 2023, H2 and Q4
2023
Net revenue by segment
Adjusted EBITDA by nature
|
Q4 2022 |
789.5 |
|
+/- EMEA |
-6.6 |
|
+/- North America |
-8.1 |
|
+/-CIS, APAC & Latin America |
15.7 |
|
+/- Sports |
31.6 |
|
Q4 2023 Like-for-Like |
822.1 |
|
+/- Currencies |
-23.2 |
|
+/- “Lag effect” in CIS (1) |
-30.1 |
|
+/- Scope |
-1.8 |
|
Q4 2023 |
770.5 |
(1) Including selling price increases
|
Q4 2022 |
25.1 |
|
+/- Volume / Mix |
5.9 |
|
+/- Selling prices |
6.9 |
|
+/- Raw materials and Transport |
37.0 |
|
+/- Salary increases |
-7.8 |
|
+/- Productivity |
7.6 |
|
+/- SG&A |
-8.9 |
|
+/- Non-recurring and other |
-13.5 |
|
+/- “Lag effect” in CIS (1) |
-1.4 |
|
+/- Currencies |
-0.4 |
|
+/- Scope |
0.2 |
|
Q4 2023 |
50.7 |
(1) Including selling price
increases
|
H2 2022 |
1,794.9 |
|
+/- EMEA |
-14.9 |
|
+/- North America |
-14.7 |
|
+/-CIS, APAC & Latin America |
36.3 |
|
+/- Sports |
85.7 |
|
H2 2023 Like-for-Like |
1,887.3 |
|
+/- Currencies |
-60.3 |
|
+/- “Lag effect” in CIS(1) |
-74.1 |
|
+/- Scope |
1.8 |
|
H2 2023 |
1,754.8 |
(1) Including selling price increases
|
H2 2022 |
108.7 |
|
+/- Volume / Mix |
-2.7 |
|
+/- Selling prices |
38.5 |
|
+/- Raw materials and Transport |
68.5 |
|
+/- Salary increases |
-16.1 |
|
+/- Productivity |
15.4 |
|
+/- SG&A |
-19.1 |
|
+/- Non-recurring and other |
-17.1 |
|
+/- “Lag effect” in CIS(1) |
-9.3 |
|
+/- Currencies |
-4.5 |
|
+/- Scope |
-0.8 |
|
H2 2023 |
161.7 |
|
2022 |
3,358.9 |
|
+/- EMEA |
-49.9 |
|
+/- North America |
-11.6 |
|
+/-CIS, APAC & Latin America |
38.3 |
|
+/- Sports |
175.9 |
|
FY 2023 Like-for-Like |
3,511.6 |
|
+/- Currencies |
-63.5 |
|
+/- “Lag effect” in CIS(1) |
-88.5 |
|
+/- Scope |
3.5 |
|
2023 |
3,363.1 |
(1) Including selling price
increases
|
2022 |
234.9 |
|
+/- Volume / Mix |
-47.7 |
|
+/- Selling prices |
131.4 |
|
+/- Raw Materials and Transport |
76.2 |
|
+/- Salary increases |
-32.1 |
|
+/- Productivity |
19.4 |
|
+/- SG&A |
-29.3 |
|
+/- Non-recurring and other |
-26.3 |
|
+/- “Lag effect” in CIS |
-24.9 |
|
+/- Currencies |
-11.3 |
|
+/- Scope |
-2.5 |
|
2023 |
287.8 |
- Press Release - Tarkett -2023_Results_ENG
Tarkett (EU:TKTT)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Tarkett (EU:TKTT)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
