Tarkett Sa · SWB:1T9
Tarkett Sa — H1 2005 Earnings Presentation
12 slides from Tarkett Sa's earnings presentation, 2005
Slide 1: First Half Year 2005
@ Tarkett @ Tarkett First Half Year 2005
Slide 2: Gross sales
Gross sales Jan - Jun Jan - Jun Deviation (In MEUR) 2005 2004 Total 764,4 708,7 +7,9% At constant exchange rate +8,9% At constant exchange rate and same perimeter +4,0% Reminder : Evolution of 1st Semester Sales 2004/2003 +1,5% 2003/2002 -1,6% 2002/2001 -3,7% 2001/2000 +4,8% 2
Slide 3: Tarkett Gross Sales by product category
Tarkett Gross Sales by product category 1st Half Year 2005 2005 5% 9% Resilient and Linoleum Wood and Laminate 26% Textile 60% Various Products
Slide 4: Gross sales by product area
Gross sales by product area Deviation in % Deviation in % Jan - Jun Jan - Jun at same exch (In MEUR) at actual 2005 2004 rate and exchange rate perimeter Resilient + Linoleum 455,3 424,7 +7,2% +0,9% Commercial + Linoleum 254,8 230,2 +10,7% -1,3% Residential 200,4 194,5 +3,0% +3,7% Hardwood 139,0 139
Slide 5: Tarkett Gross Sales by market area
Tarkett Gross Sales by market area 1st Half Year 2005 2005 France 6,3% 14,7% Germany / Switzerland / Austria Scandinavia 25,3% 9,2% United Kingdom / Ireland Southern Europe / Benelux 12,1% Eastern Europe 14,2% North America 7,2% 11,0% Others Western Europe : 54,2%
Slide 6: Gross sales by market area End of June 2005
Gross sales by market area End of June 2005 Deviation in % Jan - Jun Jan - Jun Deviation in % at same exch (In MEUR) 2005 2004 at actual rate and exchange rate perimeter Western Europe 413,8 382,3 +8,2% +1,8% France 112,3 119,6 -6,1% -5,6% Germany / Switzerland / Austria 70,0 65,2 +7,5% +4,4% Scandi
Slide 7: EBITA
EBITA Jan – Jun Jan – Jun (In MEUR) 2005 2004 EBITA 42,6 53,5 in % of sales 5,6% 7,5% Resilient Worldwide evolution 1st Half Year 2005/2004 Commercial Residential Total Resilient Raw material price +13,9% +10,3% +12,0% Selling price +4,0% +1,8% +2,7% Impact EBITA -2,3%
Slide 8: Indirect costs
Indirect costs Jan – Jun Jan – Jun (In MEUR) Deviation 2005 2004 Indirect costs 167,4 163,9 +2,1% at comparable structure 162,7 163,9 -0,7% in % of sales 21,9% 23,1% Reminder : Evolution of 1st Half Year ratio TIC / Sales 2001 2002 2003 2004 25,6% 24,9% 24,1% 23,1%
Slide 9: Net income
Net income Jan – Jun Jan – Jun (In MEUR) 2005 2004 EBITA 42,6 53,5 - Goodwill 0,0 -6,8 - Financial Result -9,7 -8,5 - Result of associated companies 3,2 3,0 - Taxes -10,3 -14,7 - Minority Interest -0,1 -0,0 NET INCOME 25,7 26,5 Tax Rate 31,3% 32,7%
Slide 10: Benchmarking
BENCHMARKING Net Sales EBITA / Net Sales 1st Half Year 2005/2004 Deviation Deviation 2005 at actual at constant 2005 2004 exchange rate exchange rate Tarkett 735,6M€ +7.4% +8.4% 5.8% 7.8% Armstrong Flooring 1 138,9M$ -2.2% -3.7% -0.8% -0.6% Congoleum (1) 115,7M$ +0.6% +0.6% -11.1% 4.7% Mohawk (2) 3
Slide 11: Working capital
Working capital 2005 2004 Deviation In MEUR - 31/06 Working capital 266 194 37,1% at comparable structure 255 194 31,5% Inventories 238,9 230,6 +3,5% Days of Inventories 88,7 101,1 -12,4 days Days Sales Outstanding 59,4 57,7 +1,7 days Days Of Purchase 70,4 75,2 -4,8 days
Slide 12: Investments and Net debt
Investments and Net debt Jan – Jun Jan – Jun (In MEUR) 2005 2004 Investments (Capex) 22,1 18,2 Net debt 367 275 Variation +92 at comparable structure +12