Tarkett Net Sales Fell 0.2% in Fiscal Year 2018, EBITDA Off 21%
Paris, FR, February 8, 2019-Tarkett has announced sales and profit results for fiscal year 2018.
Net global sales fell 0.2% for FY 2018 YOY, and EBITDA dropped 21.1%.
Sales in North America were virtually flat with EBITDA down 26% for the fiscal year.
Tarkett’s sports segment posted 10% net sales growth for the year, while its CIS, APAC & Latin America segment posted a 6.2% drop in net sales.
Commenting on these results, CEO Fabrice Barthélemy said, “Tarkett achieved good organic growth in 2018 despite a challenging environment in CIS countries. Increases in selling prices offset almost half of the adverse effect of raw materials and transportation costs. The integration of Lexmark is moving forward as expected. We are confident that we will quickly achieve the planned synergies. In the short term, we are focusing our efforts on reducing costs, managing selling prices and maintaining a highly disciplined approach to cash management.
“In order to achieve a sustainable improvement in the financial performance of the Group, we have launched a transformation plan focused on innovation in our products and solutions, optimization of our industrial set-up, digital transition and our continued commitment to circular economy. We will detail the initiatives taken in these different areas in a new strategic plan to be presented next June.”