Tarkett's Global Revenue Rose 4.2% in Q3, NA Revenue Rose 5.2%
Paris, FR, October 29, 2021-Tarkett has reported revenue of 809.4 euros for Q3 2021, a 4.2% increase compared to revenue of 776.9 euros in Q3 2020. This increase is due to increased sale prices (+3.9%) and growth in volumes (+1.1%).
Its North America segment had revenue of 194.1 million euros, an increase of 5.2% compared with Q3 2020, reflecting organic growth of +5.5% and slight negative exchange rate effect relating to the decline of the U.S. dollar against the euro. Commercial sales continued to recover in the third quarter, principally due to the health and education segments. Hospitality stabilized after the progressive improvement seen in the first half, while business in the office segment continued to decline. Thus, commercial carpet sales remained down compared with the third quarter of 2020, while sales of vinyl products and accessories recorded strong growth and regained 2019 levels. The growth in residential slowed sequentially, due to certain procurement difficulties, but business volumes were sustained, showing two-figure growth as compared with 2019.
The sport segment’s revenues were 233.9 million euros, an increase of 4.8% as compared with Q3 2020, thanks to solid organic growth of 7.5%, partially diminished by a negative exchange rate effect related to the decline of the U.S. dollar against the euro. After declines in the first half, the recovery in sales was particularly notable in North America in synthetic turf and indoor sports flooring. The backlog was rapidly built back in the second half and remains high. In North America, the delivery of certain projects in September was delayed due to procurement difficulties, due in particular to Hurricane Ida and labor tensions.