Tarkett: sluggish sales in Q1

(CercleFinance.com) - Tarkett has reported Q1 2024 sales of E668.
1m, down 4.3% y-o-y (and -2.7% in organic terms), mainly due to lower volumes in Europe and North America.

Organic sales were down -6.3% in EMEA and -6% in North America.

As expected, Tarkett reports that the start of 2024 was marked by a decline in activity in the floor coverings sector.

It says that high interest rates and persistent inflation have led to the cancellation or postponement of many new construction and renovation projects, and it does not expect the environment to improve rapidly.

For 2024, the group says it is aiming for positive cash generation and a reduction in debt, thanks to rigorous control of working capital requirements and costs, as well as tight control of investments, which will be allocated as a priority to innovative, growth, productivity and decarbonization projects.


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