Stuttgart, Germany, October 24, 2019. In the third quarter, TAKKT increased sales from the previous year's period by 1.2 percent to EUR 314.3 (310.7) million. The acquisition of XXLhoreca, which was concluded in the second quarter, and currency effects from translation of the US dollar both had a positive effect. On the other hand, organic sales growth saw a decline, coming to minus 2.3 percent. In the US, termination of the agreement with a major Hubert customer as of end of February, reduced the Group's growth rate as expected by around 2.5 percentage points. In Europe, the continued economic downturn and the resulting challenging market environment also contributed to this development. "The overall economic and market environment - especially in Germany - was weaker than expected in the third quarter," commented CFO Claude Tomaszewski on the development.
The complete press release you will find here.
