Tarkett (TKTT) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached €1,002 million, up 1.8% year-over-year, with organic growth of 2.4%.

• Sports division delivered strong organic growth of 8.3%, offsetting sluggish flooring activity in EMEA and CIS.

• Sales prices remained broadly stable, declining slightly by 0.5% compared to Q3 2023.

Financial highlights

• Group net sales for Q3 2024: €1,002 million, up 1.8% from Q3 2023.

• Organic growth for Q3 2024: +2.4% year-over-year.

• Sales prices decreased by 0.5% year-over-year in Q3 2024.

• For the first nine months, organic growth was -0.4% and total revenue was €2,560.7 million.

Outlook and guidance

• Flooring market shows no signs of recovery despite lower interest rates; European markets remain slow.

• North America Residential segment lacks signs of rapid recovery; Commercial segments are more resilient.

• Russian market in CIS slowed sharply, with no near-term improvement expected.

• Sports segment expected to remain buoyant, with continued focus on external growth opportunities.

• 2024 objective: solid improvement in Adjusted EBITDA and significantly positive free cash flow to reduce debt.