Tarkett: sales edge up, while EBITDA crumbles
(CercleFinance.com) - Floor and wall covering group Tarkett has reported Q3 sales of 809.
4 million euros, up 4.2% y-o-y, in particular benefiting from increases in sales prices (+3.9%) and growth in volumes (+1.1%).
However, adjusted EBITDA came in at 74.5 million euros, down sharply from the same period a year ago (-37% vs. 117.7 million euros). The company highlights inflation in purchasing costs (estimated at 170 million euros for the whole year), which was only partially offset by increases in selling prices (90 million euros).
In a gradual recovery, Tarkett says it remains focused on improving its cost base and is targeting pver 50 million euros in structural savings in 2021.
Given this inflationary context and the slow recovery in certain commercial segments, Tarkett expects adjusted EBITDA and EBITDA margin in 2021 to be lower than in 2020 (2020 Adjusted EBITDA: 278 million euros and EBITDA margin 10.6% of sales).
Copyright (c) 2021 CercleFinance.com. All rights reserved.