Put companies on watchlist
Knaus Tabbert AG
ISIN: DE000A2YN504
WKN: A2YN50
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

Knaus Tabbert AG · ISIN: DE000A2YN504 · EQS - Company News (110 News)
Country: Germany · Primary market: Germany · EQS NID: 2024357
07 November 2024 07:00AM

KNAUS TABBERT - Revenue and earnings in the third quarter impacted by initiatives aimed at supporting the dealer network


EQS-News: Knaus Tabbert AG / Key word(s): 9 Month figures/Quarter Results
KNAUS TABBERT - Revenue and earnings in the third quarter impacted by initiatives aimed at supporting the dealer network

07.11.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


  • Previously announced initiatives to support the dealer network are bringing positive effects, resulting however in short-term negative impact on earnings
  • 9M sales: EUR 897.2 million (-16.4 % compared to prior year)
  • Adjusted EBITDA margin at 4.8% after 8.3% in the same period of the previous year
  • Order backlog remains solid at over half a billion euros (EUR 577 million), healthy end-customer market
  • Forecast adjusted: Revenue in the 2024 financial year at around EUR 1.3 billion, EBITDA margin will be significantly below the forecast of 17 July 2024

Knaus Tabbert's third quarter was characterized by initiatives aimed to support our dealers, some of which have been facing challenges of financing their inventories due to increased financing costs. Supporting the dealer network led to a burden on revenue and earnings for the company in the past quarter. In the nine-month period, Knaus Tabbert recorded consolidated revenue of EUR 897.2 million after EUR 1,073.5 million in the same period of the previous year (-16.4%). The catalogue of measures for dealers included an intentional slow-down in supply from our factories and marketing campaigns to further accelerate already healthy sales. Overall, demand in the German market for leisure vehicles remained high in the quarter under review and our initiatives have been delivering positive results.

Alongside market-focused initiatives, the Management Board of Knaus Tabbert AG continued with corresponding operational measures in the third quarter. These led to a reduction of 1.3 percentage points in the cost of materials ratio in relation to total output, which was mainly achieved by increasing the proportion of in-house production and reducing the number of temporary workers. However, the savings were not able to fully compensate for the negative economies of scale resulting from the largely self-induced decline in sales in the first nine months. As a result, adjusted EBITDA fell by 45.4% in the nine-month period from EUR 88.6 million in the previous year to EUR 42.9 million, resulting in an adjusted EBITDA margin of 5.4% in the reporting period.

Solid order backlog

The order backlog amounted to EUR 577 million as at 30 September 2024 and thus remained at a solid level. This further indicates that the measures taken to support dealers have taken effect and have led to a gradual normalization of the order level.

Outlook of the management team

Werner Vaterl, long-standing COO of Knaus Tabbert AG, has taken over the role of CEO on an interim basis following the resignation of Wolfgang Speck. Mr Vaterl, a business graduate, brings with him many years of experience in managing the operating business and extensive industry expertise. He will be supported by his long-standing colleague on the Management Board and Chief Sales Officer Gerd Adamietzki. The temporary two-member Management Board team and the wider executive team are well positioned to lead the company through the next phase in a stable manner; the team will soon be completed with the appointment of a Chief Financial Officer.

Vaterl comments: ‘In my new role as CEO of Knaus Tabbert AG, my goal is to lead the company through the current consolidation period after years of strong growth. We have already implemented the first measures together with Wolfgang Speck since the summer by launching a dedicated package to support our dealer network and we see positive developments in that respect. We have equally started adapting our strategy to focus on increasing efficiency and profitability in the long term. We will make sure that the success we continue to have with our products and the investments we have made in our people and facilities are even stronger converted to P&L and cash flow indicators in the years to come thus benefitting all our stakeholders.’

Knaus Tabbert AG last updated its forecast for the 2024 financial year on 21 October 2024. Consolidated revenue of around EUR 1.3 billion is now expected for the full year. The adjusted EBITDA margin is expected to be significantly below the forecast of 7.0% to 8.0% last issued on 17 July 2024.



07.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Knaus Tabbert AG
Helmut-Knaus-Str. 1
94118 Jandelsbrunn
Germany
Phone: +49 (0)8583 / 21-1
Fax: +49 (0)8583 / 21-380
E-mail: info@knaustabbert.de
Internet: www.knaustabbert.de
ISIN: DE000A2YN504
WKN: A2YN50
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2024357

 
End of News EQS News Service

2024357  07.11.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2024357&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f
Visual performance / price development - Knaus Tabbert AG
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

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.