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2021/10/28

Results for the third quarter of 2021

Continued growth in the third quarter despite procurement tensions.

EBITDA negatively impacted by intensified inflation of procurement and transport costs.

  • Revenue up by +4.2% due to increased sale prices (+3.9%) and growth in volumes (+1.1%)
  • Organic growth of +3.2% as compared with Q3 2020 (excluding the sale price effect in the CIS countries, as defined historically)
  • Rising inflation in raw materials and transport costs (-71 million euros compared to Q3 2020), of which more than 40% was offset by the increases in sales prices (+30 million euros)
  • Continued structural cost reductions, which are expected to be larger than the targeted 50 million euros in reductions in 2021 announced in H1
  • Adjusted EBITDA of 74 million euros in Q3 2021, as compared with 118 million euros in Q3 of 2020; 9.2% margin, as compared with 15.2% in Q3 2020
  • 2021 adjusted EBITDA and margin expected to be down compared with the previous year (2020: 278 million euros/10.6%), given the inflation in purchasing costs estimated at 170 million euros for the whole year, of which more than 50% expected to be offset by the sale price increases (approximately 90 million euros)
  • Tarkett Participation, a company controlled by the Deconinck family and by Wendel, announced on October 25 that it held 90.41% of Tarkett share capital. Minority shareholders of Tarkett now hold less than 10% of share capital and voting rights.

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