Knaus Tabbert Faces Production Halt After Profit Warning

First Berlin Equity Research GmbH has released a new research update on Knaus Tabbert AG, lowering the price target from EUR 50 to EUR 32 while maintaining a "Buy" recommendation. The company has announced its third profit warning since July 17, leading to the temporary closure of production facilities in Jandelsbrunn and Nagyoroszi, Hungary, from November 18, 2024, to year-end.

Knaus Tabbert, a leading recreational vehicle manufacturer, aims to assist dealers with inventory reduction while managing its own stock levels. Revenue projections are now set to fall significantly below the previously estimated €1.3 billion announced on October 22, 2024. The turbulent second half has been marked by the abrupt exit of CEO Wolfgang Speck and consecutive profit warnings.

Analyst Ellis Acklin notes that although the company strategies to reduce working capital and net debt may strengthen its financial position in 2025, fundamental improvements are needed before investor confidence is restored. Despite current challenges, the longer-term perspective remains positive, as reflected in the sustained "Buy" recommendation.