TAKKT AGM decides to maintain constant ordinary dividend

5/4/2010, 1:48 PM (Source: GlobeNewswire)

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Profitable growth for 2010 on the agenda


Ludwigsburg/Stuttgart, Germany, 04 May 2010. At today's Annual General Meeting
of TAKKT AG, the shareholders approved the payment of an ordinary dividend of
EUR 0.32 per share. The ordinary dividend thus remains unchanged compared to the
previous year. Despite a 21.5 percent decline in turnover, TAKKT generated a
positive operational result (EBITDA) of EUR 68.7 (2008: 133.1) million and a
free cash flow totalling EUR 66.4 (69.0) million. For 2010, the Management Board
expects to see a return to growth in both turnover and earnings.

With the EUR 0.32 dividend payment per share approved by its shareholders today,
TAKKT Group is continuing to pursue its sustainable dividend policy, despite the
challenges posed by the 2009 financial year. This means the Group will pay out
approximately EUR 21 million in total. The payout ratio amounts to around 77
percent of the equity share of Group profits. "Also this year, we remain true to
our principles of distributing at least 30 percent of profits as an ordinary
dividend - but no less than in the previous year," said CEO Dr Felix A.
Zimmermann. With this dividend policy, TAKKT ensures that its shareholders
participate directly in the company's success whilst retaining financial scope
for further internal and external growth.

The Annual General Meeting elected Prof Dr Jürgen Kluge and Stefan Meister to
the Supervisory Board by a large majority. They succeed Dr Eckhard Cordes and
Michael Klein, who resigned from the Supervisory Board as of 31 December 2009
and 04 May 2010 respectively. Prof Dr Jürgen Kluge is CEO of Franz Haniel & Cie.
GmbH, Duisburg, and Stefan Meister is a member of the Management Board at the
same company. In future, Michael Klein will support TAKKT AG in a newly
established Advisory Board. The Advisory Board's role is to advise the
Management Board on strategic issues such as the further development of the
business model, the expansion in Asia or the future of e-commerce.

The shareholders approved all other items on the agenda - including the
discharge of the Management and Supervisory Boards for the 2009 financial year -
by a large majority.

Clear positive results achieved again
TAKKT Group's turnover fell by 21.5 percent to EUR 731.5 (932.1) million in the
2009 financial year. The operational result (earnings before interest, tax,
depreciation and amortisation - EBITDA) was EUR 68.7 (133.1) million, which
corresponds to an EBITDA margin of 9.4 (14.3) percent. Excluding one-off
expenditure for the FOCUS programme, the EBITDA margin was 10.1 percent. The
Group generated free cash flow of EUR 66.4 (69.0) million, which is available
for acquisitions, loan repayments and payments to shareholders. All of the
divisions had to overcome declines, caused primarily by the global economic and
financial crisis. For this reason, the Management Board is satisfied with the
results for 2009, despite the downturns: "Our business model once again proved
to be flexible and strong in terms of profit and cash flow generation," said
Zimmermann.

Back on track for growth
In 2010, the Management Board expects to see an upward trend which will become
even more noticeable in 2011. Zimmermann believes that TAKKT is well positioned
for the future: "We are convinced in the medium to long term that we will return
to our historic course of turnover growth averaging ten percent a year. Organic
and acquisitional growth should each account for around half of this figure."
The current improvement in the economic climate makes it increasingly probable,
that TAKKT Group's organic turnover growth will reach the upper limit, as
advised beginning of 2010, of two percent or even exceed this.

The results for the first quarter of 2010, published on 29 April, already
indicate that business is recovering. "As anticipated, TAKKT experienced
declining turnover in January and February. However, turnover was already up on
the year in March," comments Zimmermann.

Apart from the revival of the Group's core business, growth will largely be
driven by geographic expansion and the extension of TAKKT's online business in
the next few years. Having extended its operations to the Russian market at the
beginning of the year, TAKKT plans to roll out gaerner to Italy and Hubert to
Switzerland in 2010. In Germany, the online platform Certeo was launched in the
second half of 2009. There are already plans to extend it to other European
countries. Additionally, Topdeq will enter the Spanish market with an
online-only presence.

At product level, the range of private-brand articles will be extended due to
positive experience throughout the Group. The BEG has been offering transport
equipment at attractive prices with its new private-brand Quipo since March
2010, while Topdeq launched its own range of high-quality office furniture under
the name of siqnatop in January 2010.

Focusing on corporate responsibility
Despite dealing with the consequences of the current economic crisis, TAKKT does
not want to lose sight of issues regarding sustainable and responsible corporate
management. TAKKT's corporate responsibility activities concentrate on three
dimensions - staff, society and environment. Since the start of this year, TAKKT
has been involved in the "Waldfonds" project run by the environmental protection
organisation Naturefund, for example. "We are supporting this charity because -
as a global company - we want to help protect nature's diversity and conserve it
for future generations," emphasises Zimmermann.

Short profile of TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business 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 some
160,000 items for the areas of business and warehouse equipment, classical and
design-oriented office furniture and accessories, and supplies for retailers,
the food service industry and the hotel market.

TAKKT Group employs some 1,800 staff, has around three million customers
worldwide and distributes around 55 million catalogues and mailings per year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse's Prime
Standard on 01 January 2003.

Contacts:
Dr Felix A. Zimmermann, CEO
Tel. +49 711 3465-8201

Dr Florian Funck, CFO
Tel. +49 711 3465-8207

Email: investor@takkt.de



[HUG#1411629]



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