Tarkett's Q3 Sales Down 2.1%, 9.2% Decline in North America Business
Paris, FR, October 24, 2023-Tarkett announced sales of €984.3 million for Q3 2023, a decline of 2.1% from Q3 2022’s $1.0054 billion. Organic growth was +6.0% (or +5.7% including sales price variations in the CIS region. The total effect of the selling price increases implemented across all segments is +3.1% on average compared to Q3 2022. Sales prices were generally stable compared to Q2 2023.
Tarkett North America’s (NA) sales declined 9.2% in Q3 2023 to €228.4 million from €251.4 million in Q3 2022. Commercial segment volumes (offices, healthcare, education) are up slightly compared to 2022 in a market that is currently better positioned than in Europe. On the other hand, business volumes in the Residential and Hospitality segments are down in a market where demand is still suffering from inflation and the level of interest rates.
Sports net revenue continued to grow at a sustained pace, amounting to €381 million, up +11.2%, of which +15.8% organic growth compared to Q3 2022. The market continues to be very dynamic, particularly for artificial turf and athletics tracks in North America. The segment also benefited from price increases which fully offset inflation in raw material costs.