(Boursier.com) — The group’s net turnover Tarkett amounted to 668 million euros in the 1st quarter of 2024, down -4.3% compared to the 1st quarter of 2023 (698.4 ME). Organic growth stood at -2.7% (or -2.2% including sales price variations in the CIS region). Sales prices remained stable over the financial year, i.e. -0.3% compared to the 1st quarter of 2023.
Outlook
As expected, the start of 2024 was marked by a decline in activity in the flooring sector. High interest rates and persistent inflation have led to the cancellation or postponement of many new construction and renovation projects. The group does not expect a rapid improvement in the environment, even if the situations may be different depending on the region and the residential or commercial segments.
Tarkett continues to adapt the production level and cost structure while investing in the launch of new products, particularly ranges with a higher content of recycled products, and the renewal of existing collections.
The group is continuing the operational and financial recovery initiated in 2023. After the very strong cash generation in 2023, it is aiming for positive cash generation and a reduction in debt thanks to rigorous control of working capital requirements and costs, as well as the control of investments which will be allocated as a priority to innovative, growth, productivity and decarbonization projects.
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