Germany's Takkt Q3 organic sales fall; warns cyberattack may hit Q4 sales, earnings
Overview
Germany-based business equipment distributor's Q3 organic sales declined 4.3% yr/yr
Q3 EBITDA margin fell to 2.4% from 4.3% a year earlier
Company warns cyberattack will negatively impact Q4 sales, earnings and cash flow
Outlook
Company warns cyberattack may push organic sales growth and adj EBITDA margin below guidance ranges
Company expects cyberattack to negatively affect Q4 sales, earnings and cash flow
Company says risk of negative free cash flow for full year has increased due to cyberattack
Result Drivers
CAUTIOUS CUSTOMER INVESTMENT - Co said continued cautious investment behavior among customers weighed on sales
HIGHER FREIGHT COSTS - Co said increased freight costs, driven by energy prices, pressured margins
COST REDUCTIONS - Co said cost base was reduced by about EUR 9 mln, offsetting part of earnings impact from lower sales
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | EUR 231.80 mln | ||
Q3 Loss Per Share | EUR 0.28 | ||
Q3 Gross Margin | 38.50% | ||
Q3 EBIT | -EUR 19.30 mln | ||
Q3 EBITDA | EUR 5.60 mln | ||
Q3 EBITDA Margin | 2.40% |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the office equipment peer group is "buy."
Wall Street's median 12-month price target for Takkt AG is €4.95, about 98.4% above its October 27 closing price of €2.50
Reuters Recommended Reads
Oct 26 - Germany's EDAG Engineering prelim 9M revenue falls on automotive customer restructuring, cuts FY26 outlook
Oct 26 - German business sentiment rises for the sixth consecutive month, Ifo says
Oct 27 - Switzerland's Bucher Industries 9-month sales dip, orders fall on weak demand
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)