FY 2023 results:
Sustained sales growth, in particular in the fourth quarter
Profitability negatively impacted by inflation – Continued increases in sale prices
FY 2023 results:
- Sustained activity in Q4: revenue up strongly, by +16.5% as compared with Q4 2020, including +6.3% due to increased sale prices
- In 2023, net sales up by +6.0% over the fiscal year (+6.4% at constant exchange rates and scope of consolidation)
- Adjusted EBITDA of €229 million in 2023, or 8.2% of sales
- Unprecedented increases in purchasing costs: €178 million as compared with 2020, in line with the estimates given in Q3, of which €93 million offset by increases in sale prices
- Continued structural cost reductions: €65 million in savings in 2023, bringing the total cost reduction to €143 million in three years, surpassing the initial objective of €120 million over the 2019-2023 period
- Net profit of €15 million in 2023, as compared with a loss of -€19 million in 2020
- Positive free cash flow of €20 million, despite the increase in working capital requirement resulting from activity levels and inflation
- Net debt stable at €476 million, controlled leverage of 2.1x adjusted EBITDA as of the end of December 2023
- Continued increases in sale prices with the objective of neutralizing the impact of inflation on purchasing costs in 2023
Paris, February 16, 2023: The Supervisory Board of Tarkett (Euronext Paris: FR0004188670 TKTT), which met today, reviewed the Group’s consolidated results for the 2023 fiscal year.
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