Knaus Tabbert AG / Key word(s): Results Forecast/Change in Forecast
Knaus Tabbert AG: Knaus Tabbert changes forecast for full year 2022
25-Jul-2022 / 07:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Jandelsbrunn, Germany. Knaus Tabbert AG, a leading manufacturer of recreational vehicles in Europe, sees itself in a position to continue to benefit from the high demand for leisure vehicles despite a challenging first half of 2022, which is reflected in a correspondingly positive sales expectation for the 2022 financial year. For the 2022 financial year, the Management Board continues to expect a significant increase in revenue before price increase effects compared to the previous year. Including price increases of approx. 8% compared to the previous year, an increase in Group revenue to more than EUR 1 billion is expected. 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.
The Management Board of Knaus Tabbert continues to expect that the adjusted EBITDA for the full year will be above the previous year. The adjusted EBITDA margin will be more than 6%, contrary to the originally communicated forecast, which assumed a slight improvement compared to the previous year (adjusted EBITDA margin 2021: 7.0%). This is primarily related to the significant capacity increase 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.
As expected, the first half of the year is burdened by supply chain problems. In particular, low plannability and delivery performance for supplies led to lower sales and increased inventories in the second quarter. This will lead to a corresponding impact on earnings in H1 2022, resulting in an adjusted EBITDA of EUR 25.5 million compared to the same period last year (H1 2021: EUR 44.9 million).
Head of Investor Relations:
Information and Explanation of the Issuer to this News:
Explanations and reconciliations of key financial figures used can be found in the Annual Report 2021 of Knaus Tabbert AG (available at: https://www.knaustabbert.de/investor-relations/finanzberichte-praesentationen/).
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