EQS-Adhoc: TAKKT AG: Non-cash impairment charges and revision of dividend policy

Non-cash impairment charges and revision of dividend policy

Based on current multi-year planning, the TAKKT Management Board expects the annual impairment tests to result in an impairment charge on goodwill of around EUR 125 million. This affects the cash-generating units Cenbert (FoodService Division), Displays2go and National Business Furniture (both Office Furniture & Displays Division). The reason for the lower planning expectations is the continuing difficult and volatile market environment in the US, particularly as a result of tariff disputes. The impairments are not cash-effective but will lead to significantly negative earnings per share. After the impairments, the equity ratio is expected to be in the middle of the target range of 30 to 60 percent. The forecast for sales, EBITDA, and cash flow development for the current fiscal year remains unchanged.

In view of current planning expectations, the TAKKT Management Board also decided today to revise its dividend policy. The previous dividend policy stipulated the payment of a base dividend of EUR 0.60 per share. The Management Board and Supervisory Board will discuss and decide on a new dividend policy at the beginning of next year. It is expected that the new policy will provide for a payout amount below current market expectations (analysts’ consensus estimate at EUR 0.35 per share).