Adjusted annual forecast - Takkt, office furniture dealer, lowers expectations for 2024
After a weak first half-year, Stuttgart office furniture retailer Takkt lowers its forecast for 2024. The company now expects a decline of 12 to 17 percent in total sales instead of a decrease in the high single-digit to low double-digit percentage range. This will also have an impact on profitability, the company added.
Takkt expects a slight improvement in growth rates in the second half of the year. However, this will not be enough to maintain the previous forecast.
According to the latest information, the development in the gastronomy and kitchen equipment sector was particularly bad. "Disappointing for this development are delayed processes in sales and order processing due to the integration of systems from the two brands Hubert and Central," it was stated. "Additionally, there was significantly less project business." The order intake in July showed a comparable development as in the second quarter.
Preliminary figures, adjusted for exchange rate effects, show that the sales decreased by 19.0 percent in total to 260.4 million Euro in the second quarter. The Ebitda (earnings before interest, taxes, depreciation and amortization) was 13.2 million Euro.
Takkt plans to publish the interim report for the current year on Thursday (25. July).
Takkt's poor performance in the gastronomy and kitchen equipment sector has led to the revision of their annual forecast. The Stuttgart-based company now anticipates a more significant decline of 12 to 17 percent in total sales for 2024, as opposed to the initial expectation of a decrease within the high single-digit to low double-digit percentage range.
Despite predicting a slight improvement in growth rates during the second half of the year in Baden-Württemberg, Takkt's Quarterly figures indicate that this boost will not be sufficient to meet the original forecast, affecting both sales and profitability.
