Germany's Takkt Q3 organic sales fall; warns cyberattack may hit Q4 sales, earnings

By Reuters News


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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