Eventful Week for Knaus Tabbert AG as CEO Resigns

This week, Knaus Tabbert AG announced the resignation of CEO Wolfgang Speck, effective 31 October, citing personal reasons. The company has faced challenges recently, issuing its second profit warning in the second half of 2024. Knaus Tabbert plans to reduce production to support its dealer network, struggling with inventory financing. Revenue projections have been adjusted to €1.3 billion, down from an earlier forecast of €1.3-1.4 billion. Furthermore, the EBITDA margin is now expected to be significantly lower than the previous 7-8% estimate.

The focus is on reducing stock levels and improving cash flow via working capital release. Investors reacted negatively, leading to significant sell-offs. First Berlin Equity Research has lowered its price target for the company shares from €69 to €54, though maintaining a 'Buy' recommendation. The expected 2024 EBITDA margin has been reduced to 5.5% from the previous 7.5%. The company faces challenges in regaining investor confidence post these developments.