TAKKT AG: TAKKT Management Board sees high uncertainty in the forecast and proposes suspension of the dividend
March 20, 2020 at 11:45 am EDT
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DGAP-Ad-hoc: TAKKT AG / Key word(s): Forecast/Dividend
TAKKT AG: TAKKT Management Board sees high uncertainty in the forecast and proposes suspension of the dividend
20-March-2020 / 16:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
TAKKT Management Board sees high uncertainty in the forecast and proposes suspension of the dividend
TAKKT AG previously assumed that business will pick up in the further course of 2020 after a challenging first half. Due to the great uncertainty regarding the effects and consequences of the spread of the corona virus, no reliable forecasts can currently be made for the development of the Group in the 2020 financial year. Taking into account the information currently available, the Management Board of TAKKT AG expects the pandemic to have a noticeable negative impact on the supply chains, its own operations and the demand from customers in the relevant markets in Europe and North America. Sales and EBITDA are therefore expected to be significantly below the 2019 level in the current financial year.
In view of the extraordinary crisis situation resulting from the spread of the corona virus, the Management Board places high priority on financial stability and flexibility. TAKKT wants to be prepared for opportunities after the pandemic has subsided and then be able to invest in growth again. The Management Board therefore proposes to the Supervisory Board to suspend the payment of the dividend for the 2019 financial year. So far, the proposal has been to distribute one euro per share as a dividend.
TAKKT AG must also postpone the Shareholders' Meeting scheduled for May 13, 2020. The state government of Baden-Wuerttemberg recently issued a directive stating that meetings and other events are prohibited, initially until June 15, 2020. An alternative date has not yet been fixed.
Contact:
Christian Warns
Vice President Corporate Group Finance/Investor Relations
Presselstr. 12
70191 Stuttgart
Germany
+49 711 3465 8222
20-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
TAKKT AG
Presselstr. 12
70191 Stuttgart
Germany
Phone:
+49 (0)711 3465 80
Fax:
+49 (0)711 3465 8104
E-mail:
investor@takkt.de
Internet:
www.takkt.de
ISIN:
DE0007446007
WKN:
744600
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange
TAKKT AG is a Germany-based business-to-business (B2B) omnichannel distributor for business equipment. The Company operates in three segments: Industrial & Packaging (I&P), Office Furniture & Displays (OF&D) and FoodService (FS). The I&P segment is focused on the working environment of the factory or warehouse in the manufacturing industry and logistics. The OF&D segment is geared towards service providers. The FS segment is geared towards hotels, restaurants, and catering. The Group operates in approximately 25 countries in Europe and North America. It is active through numerous brands, such as Ratioform, KAISER+KRAFT, Hubert, and Gerdmans, amongst others.
TAKKT AG 
