DGAP-Information: Knaus Tabbert AG
/ Key phrase(s): Half Yr Outcomes/Quarterly / Interim Assertion
Knaus Tabbert AG: Knaus Tabbert stays on development course – Vital enhance in gross sales and income anticipated for 2022 (information with extra options)
10.08.2022 / 07:10
The issuer is solely answerable for the content material of this announcement.
- Excessive demand continues – order consumption of greater than 18,000 items within the first half of 2022
- Provide bottlenecks for motorised chassis and different supplies proceed to weigh on deliveries
- Earnings characterised by strategic measures to extend capability – EBITDA and EBITDA margin under earlier yr’s figures
- Vital enchancment anticipated by means of broader provider base in second half of 2022
Jandelsbrunn, Germany. With an unbroken excessive demand for leisure autos and regardless of persevering with materials bottlenecks, the Knaus Tabbert Group closed the primary half of 2022 with slight will increase in gross sales and income. Thus, the order consumption of 18,066 items within the first half of the yr underlines the continued constructive underlying sentiment available in the market. The Knaus Tabbert Group’s order backlog as of 30 June 2022 additionally stays at a excessive stage with 36,610 items and a worth of just about EUR 1.4 billion (30 June 2021: 36,686 items with EUR 1.2 billion). Because of the restricted availability of motorised chassis, Knaus Tabbert continued to concentrate on the manufacturing of caravans throughout the automobile classes within the reporting interval with a purpose to make optimum use of current manufacturing capacities. Because of this, gross sales of leisure autos elevated to a complete of 13,792 items (earlier yr: 13,682 items). Regardless of the considerably decrease common value of caravans in comparison with motorhomes and camper vans, Group gross sales additionally improved to EUR 447.4 million (earlier yr: EUR 441.6 million).
“We made the perfect of the difficult financial circumstances within the first half of the yr and on the identical time ready ourselves for the expansion momentum forward of us. Within the second half of the yr we anticipate a big enchancment within the supply scenario for motorised chassis, which is able to then result in the anticipated enhance in supply charges. It can be crucial that the underlying demand momentum continues. That is at the moment evidenced by our full order books. We’re in a wonderful place to fulfill the excessive demand of the market with high-quality and progressive merchandise additionally sooner or later. To this finish, we’ve already offered our sellers 18 new fashions based mostly on the brand new chassis,” Wolfgang Speck, CEO of Knaus Tabbert AG, explains the enterprise improvement.
Gross sales of caravans elevated by 25.4 % to 9,442 items (earlier yr: 7,532 items) within the first six months of 2022, whereas gross sales of motorhomes and camper vans decreased by 29.3 % to 4,350 items (earlier yr: 6,150 items) as a result of chassis scarcity. Of the ensuing Group gross sales, EUR 384.2 million had been attributable to the premium section (earlier yr: EUR 382.0 million), and an extra EUR 63.2 million (earlier yr: EUR 59.6 million) to the luxurious section.
Earnings improvement burdened by capability growth
The stock of completed items and work in progress elevated by EUR 11.2 million within the first six months of 2022 (earlier yr: EUR + 19.6 million) because of persevering with delays within the provide chains for varied supplies. Together with personal work capitalised (EUR 2.0 million) and different working revenue of EUR 1.8 million, complete revenue for the reporting interval amounted to EUR 462.4 million (earlier yr: EUR 464.6 million).
The price of supplies elevated barely from EUR 322.5 million within the earlier yr to EUR 327.4 million within the reporting interval, primarily because of the next variety of momentary employees.
Because of the strategic enhance within the variety of staff as a part of the funding programme to develop capability, personnel bills rose within the first six months by 9.6 % to EUR 70.7 million (earlier yr: EUR 64.5 million). In relation to complete output, the personnel value ratio is 15.3 per cent, which is 1.4 proportion factors increased than the earlier yr’s stage (13.9 per cent). Knaus Tabbert consciously accepts this momentary impact on earnings with a purpose to safe skilled certified employees in the long run.
“An essential funding for the longer term is the strategic enhance within the workforce, with which we’re safeguarding ourselves at an early stage towards the evident scarcity of expert employees in quite a few industries and areas. This can permit us to right away handle future enhancements alongside the availability chains and translate them into increased deliveries,” Speck continued.
General, adjusted EBITDA within the reporting interval was EUR 25.5 million (earlier yr: EUR 44.7 million), a lower of 43.0 %. Because of this, the EBITDA margin of 5.7 % was 4.4 proportion factors under the earlier yr’s worth of 10.1 %.
Funding programme being carried out as deliberate
In preparation for the anticipated future development in gross sales and manufacturing, the Knaus Tabbert Group continued its funding initiatives on the Jandelsbrunn, Schlüsselfeld and Nagyoroszi (Hungary) websites as deliberate within the first half of 2022. At EUR 33.7 million, capital expenditure elevated accordingly in comparison with the earlier yr (EUR 12.8 million).
Annual forecast 2022
Towards the background of the developments within the first six months of the 2022 monetary yr, Knaus Tabbert adjusted the forecast for the complete yr 2022 communicated within the annual reporting on 30 March 2022 on 25 July 2022.
Regardless of the difficult first half of 2022, the Govt Board continues to see Knaus Tabbert Group in a superb place to learn from the excessive demand for leisure autos. That is expressed in a correspondingly constructive income expectation for the 2022 monetary yr. The Govt Board subsequently continues to anticipate a big enhance in income earlier than value enhance results. In comparison with the earlier yr, Group turnover is predicted to extend from EUR 863 million to greater than EUR 1 billion. Worth will increase of about 8% help this gross sales development. Because of the extra chassis out there from Mercedes, Ford, MAN and Volkswagen Business Automobiles in the middle of the second half of the yr, the variety of deliveries is predicted to extend considerably within the second half of the yr.
The Govt Board of Knaus Tabbert additionally continues to anticipate that the adjusted EBITDA for the complete yr might be above the earlier yr. The adjusted EBITDA margin is now anticipated to be greater than 6%, opposite to the initially communicated forecast, which assumed a slight enchancment in comparison with the earlier yr (adjusted EBITDA margin 2021: 7.0%). That is primarily associated to the numerous growth of capacities within the personnel space and corresponding qualification measures in addition to short-term materials value will increase.
Administration is fastidiously monitoring the event in Ukraine in addition to different provide chain-related developments and their potential affect on the Group’s earnings, monetary and asset place and can take applicable measures if mandatory.
CONTACT: Manuel Taverne Investor Relations +49 152-02092909 firstname.lastname@example.org
About Knaus Tabbert
Knaus Tabbert AG is a number one producer of leisure autos in Europe with its headquarters in Jandelsbrunn, Decrease Bavaria. Additional places in Germany are Mottgers and Schlüsselfeld in addition to Nagyoroszi in Hungary. The corporate has been listed within the Prime Customary section of the Frankfurt Inventory Alternate (ISIN: DE000A2YN504) since September 2020. With its manufacturers KNAUS, TABBERT, T@B, WEINSBERG, MORELO and the rental service RENT AND TRAVEL, the corporate achieved gross sales of just about 850 million euros in 2021 and produced greater than 25,000 leisure autos with round 3,500 staff.
Extra info: www.knaustabbert.de
10.08.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.
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