Knaus Tabbert draws positive balance after its first year on the stock exchange
Knaus Tabbert AG, one of Europe’s leading manufacturers of recreational vehicles, draws a positive balance after its first year on the stock exchange. “The initial public offering was an important milestone for the further development of our Group. With the proceeds from the issue of our shares, we have laid the foundation for further dynamic growth, such as the expansion of our production capacities, path-breaking innovations for our industry and the development of sustainable solutions for recreational vehicles,” comments Wolfgang Speck, CEO of Knaus Tabbert AG.
On September 23rd, 2020, the shares of Knaus Tabbert AG were traded for the first time in the Prime Standard of the Frankfurt Stock Exchange. Notwithstanding a volatile capital market environment, 10 million shares were issued at a price of 58 euros at the time of the IPO, primarily to institutional investors in Germany and abroad. Since then, the free float has stood at around 35 percent.
Knaus Tabbert AG has kept its promise to continue on its growth course after going public and to invest the funds raised in the expansion of its capacities. By 2025, a further 220 million euros will thus be invested in expanding the current production sites in order to further strengthen its market position in the fast-growing market for recreational vehicles. State-of- the-art production facilities and technologies are to sustainably increase productivity and capacities. To this end, numerous innovations relating to the company’s individual brands were presented at the Caravan Salon 2021 in Düsseldorf in September, among others, the study for an electrically powered motorhome from KNAUS.
With a successful financial year 2020 and continued growth in 2021, the company has been on a promising path since its IPO. In the first half of 2021, revenue increased by 23 percent to 442 million euros. Adjusted EBITDA improved by 33 percent to 45 million euros.
“These record results show that we are able to grow while simultaneously strengthening our profitability,” adds CFO Marc Hundsdorf.
In September 2021, the company published its first growth targets to be achieved in the medium term. Revenue is to be increased to 2 billion euros by 2025. The share price reacted to this outlook with a significant increase.