2025 ahead ayondo Franchise coming soon
Happy 
xMas Holidays
xMas Holidays
xMas Holidays
|
Original-Research: Knaus Tabbert AG - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Knaus Tabbert AG
First Berlin Equity Research hat ein Research Update zu Knaus Tabbert AG (ISIN: DE000A2YN504) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und senkt das Kursziel von EUR 50,00 auf EUR 32,00. Zusammenfassung: Knaus Tabbert gab ihre dritte Gewinnwarnung seit dem 17. Juli bekannt und kündigte an, die Produktion in ihren Werken in Jandelsbrunn und Nagyoroszi, Ungarn, vom 18. November 2024 bis zum Ende des Jahres einzustellen. Der Wohnmobilhersteller gab erneut an, den Händlern beim Abbau ihrer Lagerbestände helfen und seine eigenen Bestände reduzieren zu wollen. Der Umsatz soll nun 'deutlich unter den am 22. Oktober 2024 kommunizierten €1,3 Mrd. liegen.' Im zweiten Halbjahr ist für KTA nicht viel gut gelaufen - drei Gewinnwarnungen in weniger als vier Monaten und der plötzliche Abgang von CEO Wolfgang Speck. Wenn es dem Unternehmen gelingt, das Umlaufvermögen und die Nettoverschuldung zu reduzieren, wird es 2025 mit einer gesünderen Kapitalstruktur starten. Aber die Fundamentaldaten allein werden nicht ausreichen, um die erschütterten Anleger zurückzugewinnen, solange das Schiff nicht eindeutig aufgerichtet ist. Wir sind nach wie vor der Meinung, dass sich die kurzfristigen Turbulenzen abschwächen werden, und behalten unsere Kaufempfehlung mit einem Kursziel von €32 (vorher: €50) bei, das eine längerfristige fundamentale Sichtweise berücksichtigt. First Berlin Equity Research has published a research update on Knaus Tabbert AG (ISIN: DE000A2YN504). Analyst Ellis Acklin reiterated his BUY rating and decreased the price target from EUR 50.00 to EUR 32.00. Abstract: Knaus Tabbert announced its third profit warning since 17 July saying it will shutter production at its factories in Jandelsbrunn and Nagyoroszi, Hungary, from 18 November 2024 until YE24. The RV maker again cited the need to help dealers cull their inventories and reduce its own stocks. Revenue is now expected to land 'significantly lower than the €1.3bn communicated on 22 October 2024.' Not much has gone right for KTA in H2-three profit warnings in less than four months and the sudden departure of CEO, Wolfgang Speck. Assuming the company succeeds in reducing working capital and net debt levels, the company will start 2025 with a healthier capital structure. But fundamentals alone won't be enough to win back shaken investors until the ship is clearly righted. We still think that near-term tumult will ease and keep our Buy rating with a €32 TP (old: €50), which takes a longer-term fundamental view. Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: http://www.more-ir.de/d/31351.pdf Contact for questions: First Berlin Equity Research GmbH Herr Gaurav Tiwari Tel.: +49 (0)30 809 39 686 web: www.firstberlin.com E-Mail: g.tiwari@firstberlin.com
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
||||||||||||||||||||
2032455 18.11.2024 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
