KNAUS TABBERT SETS A CLEAR SIGN IN SUPPORT OF ITS DEALERSHIPS

- Motorhome registration figures continue to grow
- Order intake shows expected positive momentum
- Financing costs for vehicle fleets pose unexpected challenges for dealerships
- Knaus Tabbert supports its dealer network with extended company holidays and temporarily reduced production output

Jandelsbrunn, 17 July 2024; Demand for leisure vehicles from Knaus Tabbert's five Group brands has been solid so far in the 2024 financial year and in line with management expectations. Significantly higher motorhome registration figures than in the previous year, up 9.3% in Germany as of the end of June 2024, confirm the positive development in the sustainable way. The Group brands Knaus, Weinsberg and Morelo recorded an increase in registrations of 12.7%.

Order intake is also showing the expected positive momentum again following the presentation of the 2025 model year in mid-June. The order backlog is currently well over half a billion euros.

Inventory financing presents dealers with new challenges

Despite the generally positive market environment for Knaus Tabbert, the significant increase in financing costs of up to 8% - after more than a decade of low interest rates - poses new challenges for the more than 500 dealers.

‘The second half of 2023 and the course of 2024 to date have been challenging for dealers due to inflation and the resulting rise in interest rates and the repayments due on inventories. Although the current inventory levels of our trading partners can be described as comparatively normal, in the current interest rate environment it is necessary to actively support dealers in adjusting their inventories to a lower level,’ explains Gerd Adamietzki, CSO of Knaus Tabbert AG.

Factory holidays extended at the Jandelsbrunn (DE) and Nagyoroszi (HU) sites

In addition to actively supporting the marketing of stock levels with the ‘Champions Deals’ sales initiative for the Knaus, Weinsberg and Tabbert brands, Knaus Tabbert will also extend the regularly scheduled factory holidays in August from three weeks by a total of 8 working days or two weeks.

‘Demand from end customers remains at a high level, especially in Germany. Good customer frequency at our dealers, coupled with a temporary reduction in production output, should lead to a reduction in stock levels and thus the enormous interest burden for dealers over the next few months. By sending a clear signal to our trading partners to support them in optimising their inventories, we also accept that we will have to update our own expectations for revenue and the adjusted EBITDA margin in the 2024 financial year despite the prospering end customer business,’ says Wolfgang Speck, CEO of Knaus Tabbert AG, explaining the decision taken.

Revenue for the 2024 financial year is therefore expected to be in the range of EUR 1.3 billion to EUR 1.4 billion. The forecast for the adjusted EBITDA margin has been updated and is now expected to be in a range of 7.0% to 8.0%.