Flooring Supplier Tarkett Sees Mostly Positive FX Impact in 1st Half --Currency Comment
20 Luglio 2021 - 10:47PM
Dow Jones News
By Paulo Trevisani
Foreign-exchange rates had a mostly positive impact on Tarkett
SA's results in the first half of the year.
The French provider of flooring products said Tuesday that it
had earnings before interest and taxes were 30.2 million euros
($35.58 million), or EUR37.9 million on an adjusted basis. Full
earnings are to be released on July 29.
Tarkett, which ships flooring products to nearly all continents,
said forex rates excluding Commonwealth of Independent States
nations had a positive effect of EUR900,000 "as the impact of the
dollar depreciation versus the euro and negative exchange rates in
Sweden were fully offset" in adjusted earnings before interest,
taxes, depreciation and amortization.
The company also said "significant selling prices increases were
deployed" in countries using the Russian ruble as tender, to offset
the currency's depreciation and raw-material inflation.
The U.S. dollar rose 3% against the euro from Jan. 1 to June 30,
while the krona lost 3.8% versus the greenback and rose 0.9%
against the euro. The ruble was down 1.2% against the dollar and
down 4% against the euro over the first six months of the year,
according to Tullett Prebon.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
July 20, 2021 16:34 ET (20:34 GMT)
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