Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history of over 140 years [2] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [2] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [2] Voting Rights and Shares - As of August 31, 2025, Tarkett's total number of shares in the share capital is 65,550,281 [1] - The total number of theoretical voting rights is 123,585,211, while the number of exercisable voting rights is 123,566,652 after deducting treasury shares without voting rights [1]

Financial Report - The financial report for the first half of Fiscal 2025 is now available online and has been filed with the Autorité des marchés financiers (AMF) [1] - The report includes condensed consolidated financial statements, an activity report, a statement of responsibility, and the auditors' report on the limited review of the financial statements [2] Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a turnover of €3.3 billion in 2024 [3] - The company has a workforce of nearly 12,000 employees, operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [3] - Tarkett is committed to circular economy and sustainability through its Tarkett Human-Conscious Design® approach [3]

Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history spanning over 140 years [2] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [2] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [2] Voting Rights and Shares - As of July 31, 2025, Tarkett's total number of shares in the share capital is 65,550,281 [1] - The total number of theoretical voting rights is 123,569,728, while the number of exercisable voting rights is 123,551,169 after deducting treasury shares without voting rights [1]

Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history spanning over 140 years [3] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [3] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [3] Financial Report - The financial report for the first half of Fiscal 2025 is now available online and has been filed with the Autorité des marchés financiers (AMF) [1] - The report includes condensed consolidated financial statements, a first half activity report, a statement of responsibility, and the auditors' report on the limited review of the financial statements [2] Investor Relations - Investors can access the financial report on Tarkett's website under the "Investors" section [2] - Contact information for investor relations and media inquiries is provided, including emails and phone numbers for relevant contacts [2]

Core Insights - Wendel Group's net asset value (NAV) per share decreased to €167.7 as of June 30, 2025, reflecting a 5.1% decline from March 31, 2025, primarily due to foreign exchange impacts and dividend payments [11][12][13] - The company is implementing a semi-annual interim dividend policy starting in November 2025, with an interim dividend of €1.50 per share [5][10] - Wendel's asset management platform has reached €39 billion in assets under management (AUM), with significant fundraising momentum and revenue growth [7][25][30] Financial Performance - Consolidated net sales for H1 2025 amounted to €4,177.6 million, representing a 7.2% increase overall and a 3.9% organic growth year-to-date [6][66] - The net income from operations for H1 2025 was €4.3 million, a significant decrease from €388.2 million in H1 2024, largely due to a capital gain from the disposal of Constantia Flexibles in the previous year [68][67] - Management fees from asset management activities totaled €152 million, with fee-related earnings (FRE) reaching €59 million, reflecting a more than threefold increase compared to the previous year [27][26] Strategic Developments - Wendel's acquisition of Monroe Capital and the partnership with IK Partners are pivotal in expanding its third-party asset management capabilities, aiming for €150 million in pre-tax FRE by 2027 [10][25][72] - The company successfully executed a forward sale of 6.7% of Bureau Veritas' share capital, generating net proceeds of approximately €750 million, enhancing financial flexibility [22][4] - New leadership appointments at Crisis Prevention Institute and Scalian are part of Wendel's strategy to navigate complex market conditions and drive growth [4][57] Asset Management Insights - The asset management platform's AUM has increased by 187% year-to-date, with €4.3 billion raised in H1 2025 without any sponsor money from Wendel [30][27] - The platform is focused on mid-market private markets, with a strong pipeline of acquisition opportunities to further enhance its growth [7][30] - The contribution from asset management activities positively impacted NAV, with a total increase of €3.8 per share at constant exchange rates [15][30] Investment Portfolio Performance - Listed assets represented 38% of gross asset value, with a 5.0% increase in value driven by share price increases of Bureau Veritas, IHS, and Tarkett [4][33] - Unlisted assets saw a decline of 4.8% in value, primarily due to changes in multiples and operational performance [4][14] - Total sales of group companies increased by 3.9% organically, indicating a positive trend in operational performance [4][66]

Core Insights - Tarkett reported stable activity in a sluggish market for H1 2025, with a slight increase in revenue and improved adjusted EBITDA and margin [1][2][3] Financial Performance - Revenue for H1 2025 was €1,573.5 million, a 0.9% increase from H1 2024, with organic growth slightly down by 0.2% [2][3] - Adjusted EBITDA reached €154.9 million, representing 9.8% of revenue, up from €148.2 million (9.5% of revenue) in H1 2024 [2][4] - Adjusted operating income (EBIT) was €83.9 million, a 2.6% increase from €81.8 million in H1 2024, while operating profit (EBIT) decreased to €51.5 million from €59.9 million [2][3][8] - Net income attributable to shareholders was -€0.2 million, compared to €18 million in H1 2024, with diluted earnings per share at €0.00 [2][9] Cash Flow and Debt - Free cash flow was -€134.2 million, a decline from -€75.9 million in H1 2024, reflecting seasonal cash consumption [3][23] - Net financial debt stood at €617 million, with a leverage ratio of 1.8x adjusted EBITDA, improved from 2.0x in June 2024 [2][24] Segment Performance - EMEA segment revenue increased by 2.2% to €448.8 million, with adjusted EBITDA rising to €49 million (10.9% margin) [10][14] - North America segment revenue fell by 11.4% to €395.4 million, with adjusted EBITDA declining to €34 million (8.7% margin) [10][16] - CEI, APAC & Latin America segment revenue grew by 1.9% to €248.4 million, with adjusted EBITDA at €30.5 million (12.3% margin) [10][18] - Sports segment revenue rose by 12.0% to €481 million, with adjusted EBITDA at €53.2 million (11.1% margin) [10][20] Market Conditions and Outlook - The geopolitical and macroeconomic environment remains turbulent, affecting demand across markets, particularly in Europe and North America [29][30] - The Group anticipates that the second half of 2025 will be similar to the first half, with ongoing attention to market developments [33]

Core Insights - Tarkett has been awarded the platinum medal by EcoVadis for the second consecutive year, recognizing its leadership in corporate social and environmental responsibility [1] - The company ranks in the top 1% of 130,000 companies assessed by EcoVadis, achieving an overall score of 86/100, which is an improvement from its previous score of 81/100 [2][3] - Tarkett is the only multi-product company in the flooring and sports surfaces sector to achieve this level of rating [2] Sustainability Performance - The EcoVadis assessment evaluates companies based on four key pillars: environment, labor & human rights, ethics, and sustainable procurement [3] - Tarkett's sustainability roadmap for 2030 has been approved by the Science Based Targets initiative (SBTi) in 2023, aligning with its commitment to a low-carbon, circular economy [3][4] - The company has been recognized annually since 2023 in the European Climate Leaders ranking by the Financial Times and Statista, and received an A rating from the Carbon Disclosure Project (CDP) for its climate action, placing it in the top 2% of 24,800 assessed companies [5] Company Overview - Tarkett has over 140 years of history and reported sales of €3.3 billion in 2024 [6] - The company employs nearly 12,000 people and operates 24 R&D centers, 8 recycling centers, and 35 production sites [6] - Tarkett serves customers in over 100 countries, focusing on sustainable solutions for various sectors including healthcare, education, hospitality, and sports [6]

Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history of over 140 years [2] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [2] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [2] Voting Rights and Shares - As of June 30, 2025, Tarkett's total number of shares in the share capital is 65,550,281 [1] - The total number of theoretical voting rights is 123,569,728, while the number of exercisable voting rights is 123,551,169 after deducting treasury shares without voting rights [1]

Core Points - Tarkett Participation has initiated a public buy-out offer followed by a mandatory squeeze-out of Tarkett shares at a price of €17 per share [7][6] - The offer has been approved by the Autorité des marchés financiers (AMF) and the information document related to the offer was filed on June 6, 2025 [7][8] - The offer will be open for a period of 10 trading days, with notices regarding the opening and timetable to be published by AMF and Euronext [9] Company Information - The document detailing the legal, financial, and accounting characteristics of Tarkett Participation is available on the Tarkett and AMF websites [10] - The offer is part of a compliance decision by the AMF dated June 5, 2025, which allows Tarkett Participation to proceed with the buy-out [7][5] - Compensation for shares not tendered in the public buy-out offer will be equal to the offer price of €17 per share [6]

Core Viewpoint - Tarkett has initiated a public buy-out offer followed by a squeeze-out of its shares at a price of €17 per share, as approved by the Autorité des marchés financiers (AMF) [7][6]. Group 1: Public Buy-Out Offer - The public buy-out offer is set at €17 per share, with the offer being open for a period of 10 trading days [9][7]. - The AMF has granted approval No. 25-200 for the response document related to the public buy-out offer [7]. - Following the completion of the public buy-out offer, a mandatory squeeze-out procedure will be implemented for shares not tendered [6]. Group 2: Availability of Information - A document containing legal, financial, and accounting information about Tarkett was filed with the AMF on June 6, 2025, and is available to the public [8][10]. - The document can be accessed on Tarkett's and AMF's websites, and it can be obtained free of charge upon request [10].