Knaus Tabbert, a leading RV manufacturer in Europe, has reported an improvement in its earnings performance despite a decline in revenue. The company's consolidated revenue in the first quarter of 2026 stood at EUR 249.1 million, compared to EUR 295.6 million in the same period last year, representing a decline of 15.7%. This decrease is largely due to lower sales volumes and a change in the product mix.
The decline in revenue was partly offset by an increase in sales volumes of camper vans, which rose by 18.7% compared to the previous year. Motorhomes, however, were significantly below the previous year's level. The company's adjusted EBITDA margin improved to 6.3%, up from 2.9% in the same period last year.
The improved profitability is a positive sign for the company, but the challenging market environment remains a concern. Knaus Tabbert's executive board has confirmed its forecast for the full year 2026, with consolidated revenue of around EUR 950 million and an adjusted EBITDA margin of 5.0% to 7.0%.
The company's CFO, Radim Sevcik, attributed the improved performance to measures taken to adjust the cost base and increase productivity. However, he also noted that the market environment remains challenging, and the company is consistently aligning its structures with a normalized demand environment.
Free cash flow improved significantly to EUR 30.5 million, compared to EUR 14.6 million in the previous year. This improvement is largely due to increased cash flow from operating activities, which rose to EUR 32.6 million.
The order backlog stood at EUR 363 million as of March 31, up from EUR 341 million in the same period last year. This increase suggests that Knaus Tabbert has a solid pipeline of orders and is well-positioned for future growth.
Despite the challenges facing the European RV market, Knaus Tabbert's improved profitability is a positive sign for the industry. The company's focus on adjusting its cost base and increasing productivity will likely have a lasting impact on its performance.
The company's executive board has expressed confidence in its ability to navigate the challenging market environment. With its solid financial position and focus on growth, Knaus Tabbert is well-positioned for future success.
As the European RV market continues to evolve, Knaus Tabbert will need to remain agile and responsive to changing demand. The company's improved profitability is a promising start, but it will be important to monitor its progress in the coming months.
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The improved profitability is a positive sign for the company, but the challenging market environment remains a concern.
