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TAKKT (TTK) investor relations material
TAKKT Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Sales declined 7.1% year-over-year to €491.7M in H1 2025, with all divisions reporting negative organic growth amid economic uncertainty and US import tariffs.
Adjusted EBITDA margin dropped to 3.6% in Q2 (6.6% prior year), and to 4.3% in H1 (7.0% prior year), reflecting lower gross margin and higher cost ratios.
Free cash flow was negative at €9.3M in H1, mainly due to lower earnings, higher inventories, and lower customer down payments.
The group is accelerating cost and cash management measures, including a new operating model in Industrial & Packaging, targeting at least €30M in midterm savings.
A new CFO was appointed in July 2025, bringing turnaround and transformation experience.
Financial highlights
H1 2025 sales: €491.7M, down 7.1% year-over-year; Q2 sales: €240.3M, down 7.7%.
Gross profit margin for H1: 39.5% (40.5% prior year); Q2: 39.2% (39.7% prior year).
Adjusted EBITDA margin H1: 4.3% (7.0% prior year); Q2: 3.6% (6.6% prior year).
Free cash flow H1: -€9.3M (prior year: €25.6M); Q2: -€4.3M (prior year: €4.3M).
Net financial liabilities at €151M, up from €114M at year-end 2024; equity ratio at 55%.
Outlook and guidance
Organic sales growth for 2025 expected between -9% and -2%, with no significant H2 improvement anticipated.
Adjusted EBITDA margin forecasted at 4–6% for the full year, with H2 margin expected to slightly improve over H1.
Free cash flow targeted to turn positive in H2, aiming for low to mid double-digit million euro range.
Onetime costs for the year expected at or above €17M, with higher H2 impact.
Focus remains on cost structure optimization, inventory reduction, and cash flow improvement.
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