TAKKT Group holds its ground in a difficult environment

High profitability shows small improvement

Stuttgart, 17 February 2009. After achieving good results in the
first nine months of 2008, also TAKKT felt the effects of the global
financial and economic crisis in the final quarter. "The weak fourth
quarter meant that our turnover figures ended the year under budget.
Our improved earnings margins, however, prove how robustly-positioned
TAKKT is to hold its ground even in difficult phases," affirms CEO
Georg Gayer.

Financial highlights in 2008

* Organic turnover growth of 0.7 percent
* EBITDA margin increases to 14.6 percent
* Cash flow margin reaches new record of 10.7 percent

"Following our announcement of new record figures for the first nine
months of 2008 in spite of the already discernible weakness of the US
economy, the financial and economic crisis caught up with us in the
fourth quarter," explains Georg Gayer, CEO of TAKKT AG. "In spite of
our broad diversification, we cannot protect our turnover from a
global recession. It is all the more satisfying, then, that we have
increased our profitability slightly despite the economic slump. This
is thanks not least to our focussing on our core business that we
pursued rigorously in the preceding years and to the strict cost
management."

The TAKKT Group generated turnover of EUR 932.1 (2007: 986.2)
million in the financial year 2008. In comparison to the previous
year's figure this represents a decline of 5.5 percent, which is due
to the sale of Conney Safety Products LLC (Conney) in 2007 as well as
the weak US dollar in the year under review. Adjusted for
disinvestment and exchange rate effects, the Group's turnover
increased by 0.7 percent. This means that its growth forecast, which
was reduced to around two percent in October 2008, was not achieved.
The most significant reason for this weaker development was the
reluctance of customers to order all over the world, a trend that was
especially pronounced in November and December 2008.

The EBITDA (earnings before interest, tax, depreciation and
amortisation) came to EUR 136.0 (142.3) million. The EBITDA margin
increased to 14.6 (14.4) percent, keeping it at the upper end of the
long-term target corridor of 12 to 15 percent which the Group has set
itself. Thus, even under difficult overall economic conditions and
despite the substantial expense incurred for newly started companies,
TAKKT has again increased its profitability.

Earnings before tax amounted to EUR 113.9 (116.1) million, while the
pre-tax margin increased to 12.2 (11.8) percent.

Cash flow margin improves again
The reduction in turnover caused the Group's cash flow to drop to EUR
100.0 (101.2) million. The cash flow margin, measured as a percentage
of Group turnover, nevertheless showed another year-on-year increase
to reach a new record of 10.7 (10.3) percent.

"Our profitability and cash flow figures demonstrate the TAKKT
Group's strengths. Thanks to their relatively high variable element,
we are able to adjust our most significant cost pools to the
respective business trend," explains CFO Dr Florian Funck. "At the
same time, our B2B mail order business model gives us an important
competitive advantage in this difficult economic environment. It
offers customers clear savings potential in the procurement process
costs area, an aspect which may become more significant in the
current financial year."

Turnover throughout the Group declines in fourth quarter
In the first nine months of 2008, TAKKT was still able to profit from
its international diversification and generated organic turnover
growth in its KAISER + KRAFT EUROPA and K + K America divisions. In
the fourth quarter, particularly in November and December, the
difficult market conditions for the Group as a whole became apparent,
leading to a decline of 8.2 percent in turnover to EUR 228.9 (249.3)
million. Adjusted for exchange rates, turnover decreased by 11.5
percent.

As a consequence of this, EBITDA likewise declined in the fourth
quarter, falling to EUR 32.6 (41.0) million. The margin reached 14.2
(16.4) percent. Earnings before tax fell to EUR 26.6 (33.7) million
and the pre-tax margin accordingly to 11.6 (13.5) percent.

Gayer assessed the fourth-quarter trend as follows: "Although we
performed very well over the year as a whole, the sharpness of the
recent downturn took us by surprise. Because the downward trend of
the fourth quarter 2008 continued during the first weeks of 2009,
further measures to adjust our cost structures will be implemented."

Uneven development in the divisions in 2008
The divergent economic factors influencing the different regions are
reflected in the varying trends shown by the divisions. In the year
under review, KAISER + KRAFT EUROPA generated turnover of EUR 539.3
(519.8) million, still representing growth of 3.8 percent. The
largest and most profitable division benefited over long periods from
a relatively robust economic situation and, on the earnings side too,
nearly maintained its previous year's level with an EBITDA margin of
20.7 (20.9) percent.

The Topdeq Group, which aims at both the European and US markets with
its assortment of high-quality office equipment, had been suffering
from the economic uncertainty already since the start of the year. In
the year under review turnover decreased by 9.3 percent to EUR 82.7
(91.2) million. Adjusted for exchange rates, turnover fell by 8.8
percent. Nevertheless, the EBITDA margin remained stable at 7.6 (7.6)
percent.

K + K America's turnover fell to USD 454.9 (513.0) million mainly due
to the disposal of Conney in the previous year. The weakness of the
US dollar meant that this decrease was more pronounced in the
reporting currency of euro, namely from EUR 375.6 to 310.9 million.
Adjusted for Conney, turnover as measured in US dollars fell by only
1.5 percent despite the difficult market conditions in North America.
The EBITDA margin declined from 9.6 to 8.6 percent.

Chairman of the TAKKT AG Management Board retires
At the end of January, Georg Gayer (born in 1946), CEO of TAKKT AG,
announced his retirement as CEO and member of the Management Board
with effect from 31 May 2009.

This step is due only to personal reasons and is a regular option of
Gayer's employment contract, which was prolonged early 2008. Gayer
will continue to work for TAKKT AG as a consultant.

Already in 2008 the Supervisory Board laid the basis for the
long-term management structure of TAKKT through personnel decisions
made and the prolongation of employment contracts with the
management. The Supervisory Board will decide at its next regular
meeting on 20 March 2009 about Gayer's successor.

Telephone conference
We are inviting you to pose questions to the members of our
Management Board in person. At 3pm (CET) on 17 February 2009, we will
be staging a telephone conference in which you are welcome to
participate. Please dial in using the number +49 711 9659-9628
(Access-Code 779134#).

Press conference on annual financial statements
More details about the annual financial statements for 2008 and an
outlook for the current financial year will be provided at the press
conference in Stuttgart on 25 March 2009.

Preliminary IFRS figures of the TAKKT Group for the financial year
2008
(EUR millions)

+-------------------------------------------------------------------+
| | Q4 | Q4 | Change | Q1-4 | Q1-4 | Change |
| | 2008 | 2007 | in % | 2008 | 2007 | in % |
|-----------------+-------+-------+--------+-------+-------+--------|
| TAKKT Group | 228.9 | 249.3 | -8.2 | 932.1 | 986.2 | -5.5 |
| turnover | | | | | | |
|-----------------+-------+-------+--------+-------+-------+--------|
| Organic growth | | | -11.5 | | | 0.7 |
|-----------------+-------+-------+--------+-------+-------+--------|
| | KAISER + | | | | | | |
| | KRAFT | 131.2 | 145.1 | -9.6 | 539.3 | 519.8 | 3.8 |
| | EUROPA | | | | | | |
|----+------------+-------+-------+--------+-------+-------+--------|
| | Topdeq | 20.1 | 25.1 | -19.9 | 82.7 | 91.2 | -9.3 |
| | | | | | | | |
|----+------------+-------+-------+--------+-------+-------+--------|
| | K + K | | | | | | |
| | America | 77.8 | 79.2 | -1.8 | 310.9 | 375.6 | -17.2 |
| | (¤) | | | | | | |
| | | | | | | | |
|----+------------+-------+-------+--------+-------+-------+--------|
| | K + K | | | | | | |
| | America | 100.6 | 114.8 | -12.4 | 454.9 | 513.0 | -11.3 |
| | ($) | | | | | | |
|-----------------+-------+-------+--------+-------+-------+--------|
| EBITDA | 32.6 | 41.0 | -20.5 | 136.0 | 142.3 | -4.4 |
|-----------------+-------+-------+--------+-------+-------+--------|
| EBITDA margin | 14.2 | 16.4 | | 14.6 | 14.4 | |
|-----------------+-------+-------+--------+-------+-------+--------|
| EBIT | 28.3 | 35.2 | -19.6 | 120.2 | 125.0 | -3.8 |
|-----------------+-------+-------+--------+-------+-------+--------|
| EBIT margin | 12.4 | 14.1 | | 12.9 | 12.7 | |
|-----------------+-------+-------+--------+-------+-------+--------|
| Earnings before | 26.6 | 33.7 | -21.1 | 113.9 | 116.1 | -1.9 |
| tax | | | | | | |
|-----------------+-------+-------+--------+-------+-------+--------|
| EBT margin | 11.6 | 13.5 | | 12.2 | 11.8 | |
|-----------------+-------+-------+--------+-------+-------+--------|
| Cash flow | 25.4 | 31.8 | -20.1 | 100.0 | 101.2 | -1.2 |
|-----------------+-------+-------+--------+-------+-------+--------|
| Cash flow | 11.1 | 12.8 | | 10.7 | 10.3 | |
| margin | | | | | | |
+-------------------------------------------------------------------+

Short profile of TAKKT AG
TAKKT is the leading B2B mail order company for office, business and
warehouse equipment in Europe and North America. The Group is
represented with its brands in more than 25 countries. The product
range of the TAKKT subsidiaries comprises over 130,000 items from the
areas business and warehouse equipment, classical and design-oriented
office furniture and accessories, as well as sales promotion items
for retailers, the food service industry and the hotel market.

The TAKKT Group employs some 2,000 staff, has 3 million customers
worldwide and distributes more than 70 million catalogues and
mailings per year.

TAKKT AG is listed on the SDAX and was admitted to Deutsche Boerse's
Prime Standard on 1 January 2003.

Contacts:

Georg Gayer, CEO Tel. +49 711 34658-201
Dr Florian Funck, CFO Tel. +49 711 34658-207

Email: investor@takkt.de

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