DGAP-News: Knaus Tabbert AG / Key word(s): Forecast/Change in Forecast
- Sales growth of 7% to EUR 850 million expected
- Adjusted EBITDA margin expected to be around 7%
- Operating business strongly impacted by difficulties along the supply chains
After an excellent business performance in the first half of 2021, with sales of EUR 442 million, up 23% year-on-year, and an adjusted EBITDA margin of 10.1%, the Management Board of Knaus Tabbert AG was required on September 30, 2021 to revise the outlook for the 2021 financial year due to unpredictable supply difficulties along the supply chains. At the end of the third quarter and based on the information currently available on the further supply situation on the supplier side, the Management Board now sees itself in a position to provide an revised outlook for the 2021 financial year. Accordingly, the company expects consolidated sales to increase by 7% to around EUR 850 million (previous year: EUR 794.6 million) and an adjusted EBITDA margin of around 7% (previous year: 8.5%). This outlook is subject to the condition that no new, unexpected difficulties arise along the supply chains, in production and in the completion and delivery of products.
"In September, we had to withdraw our previous forecast for the year. This was due to ongoing problems at our suppliers, as seen throughout the automotive industry and numerous other sectors of the economy. The new outlook is based, among other things, on the updated and again reduced production rates and delivery plans of the automotive manufacturers FIAT and MAN for the remaining two months of the current fiscal year," said Marc Hundsdorf, CFO of Knaus Tabbert AG. "
The difficulties along the supply chains concern the company both about the lack of availability of specific components and group of components, as well as the reduced supply from manufacturers of chassis for motorized recreational vehicles.
"In terms of dealer orders, we continue to see high demand for recreational vehicles. The order backlog remains at an all-time high of well over one billion euros. The delay in deliveries has not led to any cancellations so far," said Wolfgang Speck, CEO of Knaus Tabbert AG, "We are working hard to improve the current situation and optimize supplier networks to meet the high demand for vehicles from our brands. These measures will ensure that in the short term we can return to the growth plans originally communicated in September for the years to come."
Knaus Tabbert AG will publish its results for the third quarter of 2021 on November 11.
|Company:||Knaus Tabbert AG|
|Phone:||+49 (0)8583 / 21-1|
|Fax:||+49 (0)8583 / 21-380|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1246087|
|End of News||DGAP News Service|