Germany's Knaus Tabbert H1 revenue falls as demand slows

Knaus Tabbert AG

06/08/2026 10:13

Overview
Germany RV maker's H1 2026 revenue fell 12% yr/yr amid subdued market demand
Adjusted EBITDA and net profit rose, driven by cost measures and positive inventory changes
Company narrowed adjusted EBITDA margin guidance for 2026, citing continued challenging conditions

Outlook
Knaus Tabbert maintains 2026 revenue guidance at around EUR 950 mln
Company narrows 2026 adjusted EBITDA margin forecast to 5.0% to 6.0%
Company expects market conditions to remain challenging in H2 2026

Result Drivers
COST BASE ADJUSTMENTS - Co said measures to adjust the cost base contributed to improved profitability
INVENTORY CHANGES - Positive change in inventories supported total operating performance
SUBDUED DEMAND - Market demand remained subdued and retailers continued to order cautiously

Company press release: ID:nEQbP8VsPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
EUR 503.90 mln
 
H1 Adjusted EBITDA
 
EUR 36 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the recreational products peer group is "buy"
Wall Street's median 12-month price target for Knaus Tabbert AG is €15.00, about 25.6% above its August 5 closing price of €11.94
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Aug 5 - LCI Industries Q2 sales miss on RV shipment decline
Aug 6 - Germany's Leifheit H1 revenue falls on weak demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)