Knaus Tabbert's Third Quarter Earnings Impacted by Dealer Support Initiatives

Knaus Tabbert AG has reported a short-term negative impact on third-quarter earnings due to initiatives aimed at supporting their dealer network. The company's nine-month sales totaled EUR 897.2 million, reflecting a 16.4% decrease compared to the previous year. The adjusted EBITDA margin declined to 4.8%, a drop from the 8.3% recorded in the prior year. Despite a decline, the order backlog stands strong at EUR 577 million, indicating positive effects of the dealer support measures.

To assist dealers facing financial challenges, Knaus Tabbert intentionally slowed down factory supplies and initiated marketing campaigns. Additionally, operational measures like increasing in-house production helped reduce material costs. Despite these efforts, the adjusted EBITDA fell by 45.4% over the nine-month period, resulting in an adjusted EBITDA margin of 5.4%.

Knaus Tabbert's leadership has transitioned with Werner Vaterl assuming the role of interim CEO. Vaterl aims to lead the company through a period of consolidation, increasing efficiency and profitability. The company has revised its 2024 financial forecast, now expecting a revenue of around EUR 1.3 billion, with an adjusted EBITDA margin significantly below prior estimates.