DGAP-News Knaus Tabbert grows and achieves top adjusted EBITDA result in challenging economic environment
DGAP-News: Knaus Tabbert AG / Key word(s): 9 Month figures/Interim Report
Knaus Tabbert grows and achieves top adjusted EBITDA result in challenging economic environment
- Revenues after nine months at €573 million, ca. 3% higher than the previous year
- Despite April lockdown, adjusted EBITDA improved by more than 5% to €47 million after nine months; adjusted EBITDA margin rose to 8.2%
- Efficient working capital management boosts operating cashflow by 192% to €35 million
- Accelerated growth in Q3: Revenues rise by 33.5% to €213.8 million.
- Record order backlog of 22,327 vehicles (+61%) ensures visibility and planning security for mid-term growth
- 2020 outlook confirmed: Revenues and EBITDA expected to be at previous year's level
November 12, 2020, Jandelsbrunn, Germany. Knaus Tabbert, one of Europe's leading manufacturers of recreational vehicles, significantly increased its revenues in Q3. At the same time, the company almost completely caught up with April's corona-related production backlog.
"We are immensely proud to be able to present such excellent results in the first report following our IPO. Revenues and adjusted EBITDA margin grew once more during the first nine month of this unusual year, and we are still benefitting from the positive impact of the Caravan Salon trade fair in Dusseldorf", says Wolfgang Speck, CEO of Knaus Tabbert. "Caravanning now stands for a type of recreational activity that offers optimum comfort, privacy and freedom. Heightened environmental awareness and the growing popularity of regional tourism will further strengthen this trend in the long term."
Revenues rise over the reporting period thanks to strong demand
Overall, the company posted revenues of about €573.1 million for the nine months ending September (previous year: €554.2 million), a year-on-year increase of 3.4%. EBITDA before one-time costs and effects improved disproportionately by 5.4 percent to over €47 million.