TAKKT Management Board sees high uncertainty in the forecast and proposes suspension of the dividend

TAKKT AG previously assumed that business will pick up in the further course of 2020 after a challenging first half. Due to the great uncertainty regarding the effects and consequences of the spread of the corona virus, no reliable forecasts can currently be made for the development of the Group in the 2020 financial year. Taking into account the information currently available, the Management Board of TAKKT AG expects the pandemic to have a noticeable negative impact on the supply chains, its own operations and the demand from customers in the relevant markets in Europe and North America. Sales and EBITDA are therefore expected to be significantly below the 2019 level in the current financial year.

In view of the extraordinary crisis situation resulting from the spread of the corona virus, the Management Board places high priority on financial stability and flexibility. TAKKT wants to be prepared for opportunities after the pandemic has subsided and then be able to invest in growth again. The Management Board therefore proposes to the Supervisory Board to suspend the payment of the dividend for the 2019 financial year. So far, the proposal has been to distribute one euro per share as a dividend.

TAKKT AG must also postpone the Shareholders' Meeting scheduled for May 13, 2020. The state government of Baden-Wuerttemberg recently issued a directive stating that meetings and other events are prohibited, initially until June 15, 2020. An alternative date has not yet been fixed.