Knaus Tabbert AG: Knaus Tabbert stays on development course

DGAP-Information: Knaus Tabbert AG / Key phrase(s): Half Yr Outcomes/Quarterly / Interim Assertion
Knaus Tabbert AG: Knaus Tabbert stays on development course – Vital improve in gross sales and income anticipated for 2022 (information with extra options)
10.08.2022 / 07:10
The issuer is solely chargeable 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 broader provider base in second half of 2022

Jandelsbrunn, Germany. With an unbroken excessive demand for leisure automobiles 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 out there. 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). As a result of restricted availability of motorised chassis, Knaus Tabbert continued to give attention to the manufacturing of caravans throughout the automobile classes within the reporting interval to be able to make optimum use of current manufacturing capacities. Consequently, gross sales of leisure automobiles 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 very best of the difficult financial situations 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 count on a major enchancment within the supply scenario for motorised chassis, which is able to then result in the anticipated improve in supply charges. It is necessary that the underlying demand momentum continues. That is at the moment evidenced by our full order books. We’re in a superb place to satisfy the excessive demand of the market with high-quality and progressive merchandise additionally sooner or later. To this finish, we’ve got already offered our sellers 18 new fashions based mostly on the brand new chassis,” Wolfgang Speck, CEO of Knaus Tabbert AG, explains the enterprise growth.

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) because of the 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 additional EUR 63.2 million (earlier yr: EUR 59.6 million) to the luxurious section.

Earnings growth burdened by capability enlargement

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) on account of persevering with delays within the provide chains for varied supplies. Together with personal work capitalised (EUR 2.0 million) and different working earnings of EUR 1.8 million, complete earnings 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 on account of a better variety of non permanent staff.

Because of the strategic improve within the variety of staff as a part of the funding programme to increase 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 larger than the earlier yr’s stage (13.9 per cent). Knaus Tabbert consciously accepts this non permanent impact on earnings to be able to safe skilled certified employees in the long run.

“An essential funding for the longer term is the strategic improve within the workforce, with which we’re safeguarding ourselves at an early stage in opposition to the evident scarcity of expert staff in quite a few industries and areas. This can enable us to instantly handle future enhancements alongside the provision chains and translate them into larger 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 %. Consequently, 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 total 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 an excellent place to profit from the excessive demand for leisure automobiles. That is expressed in a correspondingly constructive income expectation for the 2022 monetary yr. The Govt Board due to this fact continues to count on a major improve in income earlier than value improve results. In comparison with the earlier yr, Group turnover is anticipated to extend from EUR 863 million to greater than EUR 1 billion. Worth will increase of about 8% help this gross sales development. As a result of extra chassis obtainable from Mercedes, Ford, MAN and Volkswagen Business Automobiles in the midst of the second half of the yr, the variety of deliveries is anticipated to extend considerably within the second half of the yr.

The Govt Board of Knaus Tabbert additionally continues to count on that the adjusted EBITDA for the total yr will likely 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 enlargement 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 acceptable measures if essential.

Obtain Report –

CONTACT: Manuel Taverne Investor Relations +49 152-02092909

About Knaus Tabbert

Knaus Tabbert AG is a number one producer of leisure automobiles in Europe with its headquarters in Jandelsbrunn, Decrease Bavaria. Additional areas in Germany are Mottgers and Schlüsselfeld in addition to Nagyoroszi in Hungary. The corporate has been listed within the Prime Normal section of the Frankfurt Inventory Change (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 automobiles with round 3,500 staff.

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File: Half-year monetary report 2022

10.08.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.
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