Stable dividend for a successful 2008

5/6/2009, 1:31 PM (Source: GlobeNewswire)

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TAKKT well equipped for the crisis

Ludwigsburg/Stuttgart, 6 May 2009. At today's Annual General Meeting
in Ludwigsburg, the shareholders of TAKKT AG ratified the proposal by
the Management and the Supervisory Boards to distribute an ordinary
dividend of 32 cents and, once again, a special dividend of 48 cents
per share. The shareholders are therefore participating again to a
large degree from the good profits of the company. In the financial
year 2008, the TAKKT Group achieved organic turnover growth of 0.7
percent to EUR 932.1 million and increased its EBITDA margin to the
record level of 14.6 percent.

Due to TAKKT's strong cash flow and high equity ratio the Annual
General Meeting agreed to the proposal of the Management and
Supervisory Boards to pay out a stable total dividend of 80 cents per
share. With total dividends of EUR 52.5 million, the payout ratio for
the financial year 2008 is approximately 70 percent of the equity
share of profit in 2008. "Even after the share buy-back and the
acquisition of Central Products LLC in the USA in the first four
months of 2009 we still have enough financial flexibility for
internal and external growth," said CEO Georg Gayer.

With a high percentage of the share capital represented at the Annual
General Meeting, the shareholders once again agreed to discharging
the Management and the Supervisory Boards. Following a motion by the
majority shareholder Franz Haniel & Cie. GmbH, Duisburg, Dr Dr Peter
Bettermann, Managing Partner and Speaker of the Management Board of
Freudenberg & Co KG, Weinheim, was appointed to the Supervisory Board
as successor to the retiring member, Alexander von Witzleben. The
Annual General Meeting overwhelmingly endorsed the management's
proposals in relation to all other items on the agenda.

Profitability increased again
The TAKKT Group generated turnover of EUR 932.1 (2007: 986.2) million
in the financial year 2008. This year-on-year decline of 5.5 percent
can be entirely attributed to the disposal of Conney Safety Products
LLC in 2007 and to the weakness of the US dollar in the year under
review. The Group turnover posted slight organic growth of 0.7
percent. Profitability increased again, despite the difficult
economic environment in the second half of 2008 and the anticipated
start-up losses from the new foundations. The Group's EBITDA
(earnings before interest, tax, depreciation and amortisation) came
in at EUR 136.0 (142.3) million. The EBITDA margin improved to 14.6
(14.4) percent, and was therefore close to the upper end of the
Group's long-term target corridor of between twelve and 15 percent.
Profit before tax amounted to EUR 113.9 (116.1) million, and the
pre-tax margin rose to 12.2 (11.8) percent. The cash flow margin rose
to the record level of 10.7 (10.3) percent.

Management Board succession stands for strategic continuity
At his last Annual General Meeting, CEO Georg Gayer - who will retire
on 31 May 2009 - thanked the members of the Supervisory Board, his
Management Board colleagues, the TAKKT Group employees and the
shareholders for the good working relationships and for the trust
placed in him over the past ten years. Looking ahead, Gayer assured
the shareholders that "the managerial change at TAKKT AG will not
have any impact on the Group's strict performance and
value-orientation." The incoming CEO, Dr Felix A. Zimmermann stands
for continuity due to his many years of experience in the TAKKT
Group, having acted as CFO between 1999 and 2004 and having been
appointed Deputy Chairman responsible for the K + K America division
since 1 May 2008.

Well equipped for the crisis
Gayer considers the group to be well positioned, even in view of the
current recession: "So far, TAKKT has always come out of an economic
trough strengthened, and that will be the case this time round too."
The Management Board of TAKKT AG is reckoning with an organic decline
in consolidated turnover (adjusted for the acquisition as well as
exchange rate fluctuations) of between 15 and 25 percent in 2009 as a
whole. A good level of profitability is nevertheless anticipated,
thanks to the company's business model with a low level of fixed
costs. "Even if turnover declines by up to 20 percent in the year as
a whole, we will nevertheless still have a double-digit EBITDA
margin," Gayer said.

Expansion despite current economic climate
Gayer stated that one of the strategic objectives of the TAKKT Group
is to become the world's number one B2B mail order company for
business equipment, going on to say that the recent acquisition of
Central Restaurant Products - the leading US mail order group for
restaurant equipment - was another step in this direction. In
addition to acquisitions, an important long-term growth driver for
TAKKT is the foundation of new companies. Considering the
extraordinarily good response to the launch of Hubert in Germany, it
is now planned to expand the Hubert activities into France before the
end of the year. In addition TAKKT is pressing ahead with its plans
to expand further in Eastern Europe and to intensify its e-business
activities.

Short profile of TAKKT AG
TAKKT is the leading B2B mail order company for office, business and
warehouse equipment in Europe and North America. The Group is
represented with its brands in more than 25 countries. The product
range of the TAKKT subsidiaries comprises over 160,000 items from the
areas business and warehouse equipment, classical and design-oriented
office furniture and accessories, as well as sales promotion items
for retailers, the food service industry and the hotel market.

The TAKKT Group employs some 2,000 staff, has 3 million customers
worldwide and distributes more than 60 million catalogues and
mailings per year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse's
Prime Standard on 1 January 2003.

Contact:
Georg Gayer, CEO
Tel. +49 711 34658-201
Dr Florian Funck,
CFO Tel. +49 711
34658-207

Email: investor@takkt.de


This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

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