Tarkett Total Revenue Down 4.3% in Q1, NA Segment Down 7.1%

Paris, FR, April 29, 2024-Tarkett reported net revenue of 668 million Euros for Q1 2024, down 4.3% compared to Q1 2023.

In Q1 2024, sales prices remained stable YOY, -0.3% compared to Q1 2023.

The North America segment generated a net revenue of 199 million Euros in Q1 2024, down 7.1% compared to Q1 2023, reflecting like-for-like decline of 6.0% at constant scope and exchange rates as well as a negative currency effect linked to the depreciation of the dollar against the euro (-1.1%). The residential market is still heavily penalized by inflation and rising bank loan rates, which have led to a very sharp reduction in new construction and renovation projects. The commercial segments are less impacted and only show a slight decline. Tarkett continued to grow in the workplace segment despite a challenging market environment. Sales prices remained stable in the first quarter.

Activity in the sports segment continued to grow in the first quarter despite an already high baseline. Net sales amounted to 141 million Euros for Q1 2024, up 6.7%, including 7.9% organic growth compared to Q1 2023, and a negative currency effect linked to the depreciation of the dollar against the euro (-1.2%). Demand remains strong for artificial turf and athletics tracks in North America, with a solid order book.