Tarkett Sales Up 2.8% in First Half of 2023, NA Sales Up 1.6%

Paris, FR, August 1, 2023-Tarkett announced sales of €1.608 billion for the first half of 2023, an increase of 2.8% year over year. Organic growth reached 3.9%. The total effect of the selling price increases implemented in 2022 across all segments is +5.5% on average in 2023 compared to H1 2022. Over the period, volume fell by ‐2.1%.

The company reported adjusted EBITDA of €126.1 million, an increase of 7.8% from the prior half.

The North America segment reported revenue of €458 million, up +1.6% compared to H1 2022, reflecting solid like‐ for‐like growth of +0.7% at constant exchange rates and scope due to the selling price increase. The commercial segments (offices, healthcare and education) held up well and their volume of business was similar to last year over the six‐month period. They benefited from a sequential improvement in accessories, carpet tiles and vinyl during the second quarter. The volume in residential remains very low against a backdrop marked by inflation and the rise in interest rates, which weighed on the renovation and construction of housing.

Adjusted EBITDA in the segment increased significantly to €41 million, i.e. 9% of sales, compared to €31 million/6.9% of sales in the first half of 2022, reflecting a favourable product mix effect, and a positive balance of inflation buoyed by the price increases deployed in 2022 and the start of the downturn in material costs compared to last year.