Knaus Tabbert AG: Knaus Tabbert remains on growth track in 2022

DGAP-News: Knaus Tabbert AG / Key word(s): Development of Sales/Forecast
Knaus Tabbert AG: Knaus Tabbert remains on growth track in 2022
25.07.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

  • Significant increase in turnover to over EUR 1 billion expected for the full year
  • Measures to increase capacity will have a negative impact on earnings in 2022
  • Multi-sourcing strategy leads to significant increase in delivery volumes in the second half of 2022
  • Order backlog rises again to over 35,000 units

Jandelsbrunn, Germany. Despite a challenging first half of 2022, Knaus Tabbert AG, a leading manufacturer of leisure vehicles in Europe, sees itself in a position to continue to benefit from the high demand for leisure vehicles, which is reflected in a correspondingly positive revenue expectation for the 2022 financial year. For the 2022 financial year, the Managing Board expects a significant increase in revenue to over EUR 1 billion. Due to the additional chassis available from Mercedes, Ford, MAN and Volkswagen Commercial Vehicles in the course of the second half of the year, the number of deliveries is expected to increase significantly in the second half of the year. Together, the four new chassis suppliers will already account for around 40% of all deliveries of motorhomes and camper vans of the Knaus and Weinsberg brands in 2022.

The Management Board of Knaus Tabbert continues to expect that the adjusted EBITDA for the full year will also be above the previous year. Contrary to the originally communicated forecast, which assumed a slight improvement compared to the previous year (Adjusted EBITDA margin 2021: 7.0%), the adjusted EBITDA margin will be more than 6%. This is primarily related to the significant increase in capacities in the staff area and corresponding qualification measures as well as short-term material cost increases. These result, among other things, from lower delivery volumes for chassis from Stellantis in connection with volume-dependent discount tables.

Necessary increase in staff to safeguard sales planning as of Q4 /2022

As a consequence of the continuing high market demand and the existing order backlog of over 35,000 vehicles as well as the expected positive market development in the years ahead, Knaus Tabbert already launched a comprehensive investment programme last year. This growth offensive also requires additional staff, which we have recruited and qualified in recent months. The company thus reacted early to the evident shortage of skilled workers in numerous industries and regions in Europe. Against this background, it is strategically important to keep qualified workers in the company - despite supply chain disruptions and material bottlenecks. We are thus accepting negative effects on earnings for a temporary transitional period.

"In the summer of 2021, we made the decision for the largest investment programme in the company's history to expand production capacities. We are growing in 2022 in terms of revenue, output and also in terms of earnings. However, due to the known problems along the supply chains, we are not yet able to fully back our capacities with the planned higher sales. which will affect the margin in the current year," commented Wolfgang Speck, CEO of Knaus Tabbert, on the forecast.

Model offensive to strengthen market position in Europe

Knaus Tabbert is introducing 16 new motorhomes based on the new chassis from Mercedes, MAN, Ford and Volkswagen and two new caravans for the 2023 model season, which will be produced at Knaus Tabbert locations as early as September. In future, customers and dealers will be able to choose from the extended range when ordering their motorhomes. This will help to significantly increase the total number of available chassis and successively reduce the production backlog.

Together we will overcome and successively reduce the challenges from strained supply chains, which may continue to cause delays," explains Wolfgang Speck, CEO of Knaus Tabbert. "We manage the problems along the supply chains proactively and still have to accept that we cannot influence the global crises. We are working consistently to ensure that we can serve our partners and end customers again with the usual reliability in the coming months and meet the high demand for our products promptly with an increased production volume.

Investor Relations
Manuel Taverne
+49 152-02092909


25.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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