Bartolacci Design Expands into Japanese in Partnership with New Japan Yacht

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30/05/2023

30 May 2023

30 May 2023, Comments Comments Off

Bartolacci Design Expands into Japanese in Partnership with New Japan Yacht

Bartolacci Design, a leading company in RV lighting, is continuing its expansion by systematically entering the Japanese market in partnership with New Japan Yacht (NJY) in Shizuoka Prefecture. NJY, a company operating in the nautical sector that has recently expanded into the RV sector, is working with Bartolacci to strengthen the company’s presence in Asia.The collaboration allows Bartolacci to utilize all of its unique features in the Japanese market, including a catalogue of lighting fixtures that can be customized or specially made for customers thanks to the company’s direct production in Italy. This feature is particularly important in a market like Japan that has different needs compared to the European market. Bartolacci’s technical organization and expanded machinery park allows the company to work with various materials and create a wide range of lighting fixtures for the RV industry. With the addition of thermoforming machines and pantographs, Bartolacci is able to offer a wide range of lighting and furnishing components made from a variety of materials.

Through the partnership with New Japan Yacht, Bartolacci Design is expanding its presence in the Asian market, starting with Japan as its first target.

04/10/2023

Dan Pearson, former RVDS Chairman of the Board at the National RV Dealers Association, has passed away

The National RV Dealers Association (RVDA) has announced the sad news that its former Chairman of the Board, Dan Pearson, owner of PleasureLand RV Centers, headquartered in St. Cloud, MN, has passed away.

Dan served as RVDA's chairman of the board in 1993-94, was a member of the RVDA Board of Delegates, vice chairman of the Mike Molino RV Learning Center and served as co-chairman of the Go RVing Coalition. He was inducted into the RV/MH Hall of Fame in 2018.

PleasureLand began in 1971 as part of Plaza Buick, which was owned by Dan’s father, Vern. Dan started working at the dealership when he was just 11 years old. Pearson took over the dealership in 1982 with just 20 employees. Today the company is one of the largest RV dealership groups in the Upper Midwest, with locations in Minnesota, South Dakota, and Wisconsin. Pearson received the Entrepreneurial Success Award from the St. Cloud Chamber of Commerce in 2018.

“Dan was a pillar of both the RV industry and RVDA,” said RVDA President Phil Ingrassia. “He was active in every facet of our association’s work over the past four decades. Dan was a passionate advocate for dealers at the state and federal level, supported continuing education for dealership employees, and a champion of market expansion efforts that helped lead the industry to unprecedented growth.”

“The RV Industry Association mourns the loss of Dan Pearson, said RV Industry Association President, Craig Kirby. Dan was a passionate supporter of the RV industry with a long-established reputation as one the best in the business. Dan spent over 10 years as co-chair of the Go RVing Coalition, taking a leadership role in shaping the RV industry’s consumer outreach efforts. He was a champion for our industry’s continuous growth, and our thoughts go out to his family and friends – he will truly be missed by so many.”

03/10/2023

This month's Motorhome and Caravan Show 2023 is biggest of the year for UK caravan industry

With over 350 exhibitors, including the UK and Europe's biggest brands, the Motorhome and Caravan Show (17 to 22 October) is one of the most important of the year in the UK.

As usual, it takes place at the National Exhibition Centre (NEC) in Birmingham and not only features all the latest leisure vehicles, but also accessories and travel destinations, plus presentations by a range of speakers and celebrities at the Inspiration Theatre.

Tickets for the UK’s biggest Leisure Vehicle Show are available to buy online in advance from £12.50 including parking at mcshow.co.uk. Tickets are limited and subject to availability.

For the complete exhibitor list, Show features, celebrity guests and Inspiration Theatre speakers, visit the Show website or follow the Show across Facebook (NEC CaravanShows), Instagram (@neccaravanshows) and Twitter (NECCaravanShow).

02/10/2023

Final countdown to the Paris leisure vehicle show

One of the biggest and most important leisure vehicle shows in France, Le Salon des Vehicules de Loisirs, will be open from 10am to 7pm from 7 to 15 October 2023 at the new location of the Paris-Nord Villepinte exhibition centre.

Last year's show attracted nearly 91,000 visitors and 160 exhibitors over the nine days, and this year's show promises to be even better with a wide range of the leading European manufacturers of leisure vehicles and accessories bringing their latest models and products for visitors to see.

The new location is larger and easier to get to by road or public transport,. It also features a test centre where visitors can try some motorhomes in real traffic conditions around the exhibition venue.

For more details, including a list of exhibitors and to buy tickets, go to https://salonvdl.com/.

29/09/2023

Kampgrounds of America, Inc. shows commitment to CSR with 2023 Outdoor CEO Pledge Report

Kampgrounds of America (KOA) has confirmed its dedication to corporate social responsibility (CSR) with its 2023 Outdoor CEO Pledge Report.

This showcases KOA’s commitment to enhancing the camping experience while championing diversity, sustainability and accessibility.

“The Outdoor CEO Pledge marked our initial stride in the journey toward learning about and focusing work on diversity, equity and inclusion,” noted Toby O’Rourke, president and CEO of Kampgrounds of America, Inc.

“Since that initial pledge, we’ve forged a comprehensive Corporate Social Responsibility initiative, bringing together our DEI, sustainability and philanthropy work. Our vision intertwines these pillars, purposefully ensuring the great outdoors is, and remains, accessible for generations to come.”

Within the report, Kampgrounds of America, Inc. highlights many noteworthy initiatives that underscore its dedication to CSR:

Kampgrounds of America Foundation: A significant milestone in KOA’s CSR journey was the establishment of the Kampgrounds of America Foundation. This foundation is funded by 1% of pre-tax profits and is dedicated to supporting the company’s mission of enriching lives through memorable outdoor experiences.

Get Out There Bag: In collaboration with ANKER, KOA has launched the “Get Out There Bag” initiative, aimed at enabling minority youth to embrace the great outdoors.

Diversity, Equity and Inclusion (DEI): In 2023 and 2024, KOA will continue its DEI work with an added emphasis on accessibility. This initiative will produce industry reports, accessible campground designs, and revamped HR initiatives, reflecting KOA’s commitment to making outdoor adventures inclusive. Notably, the 2023 North American Outdoor Hospitality and Camping Report reveals that 4-in-10 campers have some form of physical limitation, underscoring the importance of making outdoor experiences accessible to all.

Gold LEED Certification: KOA is raising the bar for sustainability by achieving Gold LEED Certification for its new corporate headquarters, scheduled to open in October 2023 in Billings, Mont.

Solar-Powered “Recharge Stations”: To reduce environmental impact, KOA is implementing solar-powered “Recharge Stations” across campgrounds, providing sustainable power options coupled with seating to benefit both campground design and camper experience.

EV Charging Solutions: In alignment with the global shift towards electric vehicles, KOA is actively working on EV charging solutions and eco-conscious campground architecture to facilitate sustainable travel choices for campers.

“At KOA, corporate social responsibility is not just a duty; it’s a passion that connects us to our overall mission of connecting people to the outdoors and each other,” said Whitney Scott, head of corporate social responsibility at Kampgrounds of America, Inc.

“We are dedicated to creating access to the outdoors, preserving the outdoors for all and supporting the communities where we work and live across the U.S. and Canada.”

Kampgrounds of America, Inc.’s commitment to CSR not only aligns with its core values but also responds to the evolving expectations of campers who seek sustainable, inclusive and memorable outdoor experiences.

To read more about KOA’s initiatives and access the full report, click here: KOA’s Initiatives and Report.

27/09/2023

Volkswagen celebrates 20 years production of its Caddy van in Poland

Volkswagen Commercial Vehicles is celebrating 20 years since the first Caddy “Made in Poland” left its Poznań plant. Since then, more than 2.6 million units have been built there in three generations of the Caddy, Volkswagen's smallest van model.

In autumn 2003, Volkswagen Commercial Vehicles presented the third generation of the Volkswagen Caddy at the RAI Commercial Vehicle Show in Amsterdam. Shortly afterwards, production started in Poznań in western Poland on 12 November, thus launching a success story for the plant and the model. In the meantime, more than 2.6 million units of the high-roof van have rolled off the assembly line in Poland.

When Volkswagen Commercial Vehicles started vehicle production in Poznań in 1993, nobody could have guessed that the location would become the largest automotive plant in Poland, the largest employer in the region and the only production plant for the Caddy.

In the first few years, the plant in Antoninek near Poznań mainly assembled vehicles from different Group brands. However, Volkswagen systematically expanded the location so that vehicle production started in addition to assembly.

Poznań began the most important chapter in the history of the plant with the premiere of the Caddy: Volkswagen planned the production of the third Caddy generation exclusively for the Polish site. At 8:06 pm on 12 November 1993, the first Caddy “Made in Poland” rolled off the production line in the expanded and modernised plant. The proud lettering on the side of the vehicle read: „Jestem z Poznania!“ (“I’m from Poznań!”).

“The year 2003 was a breakthrough for Volkswagen Commercial Vehicles in Poznań. Our plant and the entire workforce demonstrated their willingness to take over the production of one of the most important models of the Volkswagen Commercial Vehicles brand,” emphasises Stefanie Hegels, Chair of the Board of Management of Volkswagen Poznań. “With the production of the third to fifth generations, this development has accelerated significantly, the plant has been continuously expanded and automated, and the workforce has grown.”

In 20 years, the plant has produced more than 2.6 million Caddy vehicles. In 2020, production of the current fifth generation began for 71 markets worldwide. In addition to the standard version in various body variants, the lengthened Caddy Maxi version and the Camper Caddy California are also produced in Poznań. The Caddy can be ordered with up to seven engine variants and a range of up to 69 body colours.

The history of the Volkswagen Caddy dates back to 1979, when a pickup based on the Volkswagen Golf with the name Rabbit Pickup was developed for the North American market. Production began in Europe in 1983 – and the Caddy was officially born. Volkswagen Commercial Vehicles presented the second-generation Caddy based on the Volkswagen Polo in 1995. This was followed by the third generation in 2003. Its history has been closely linked to Poznań since then – a relationship that has been very successful for 20 years.

27/09/2023

Thor Industries reports Fourth Quarter and Fiscal 2023 results

THOR Industries, Inc. has announced financial results for its fourth fiscal quarter and full fiscal year ended July 31, 2023.

Net sales for the fourth quarter were $2.74 billion, a decrease of 28.4% compared to the record fourth quarter of fiscal 2022.

Consolidated gross profit margin for the fourth quarter was 14.4%, a decrease of 310 basis points when compared to the fourth quarter of fiscal year 2022.

During the fourth quarter of fiscal 2023, net cash provided by operations totaled $507.5 million and the Company made principal payments of $300.0 million on its Term Loan and $50.0 million on its ABL.

Net sales for fiscal year 2023 were $11.12 billion, a decrease of 31.8% compared to the record fiscal 2022.

Net cash provided by operations for fiscal year 2023 totaled $981.6 million compared to $990.1 million in fiscal 2022.

During fiscal year 2023, the Company returned $138.0 million to shareholders via cash dividends and repurchases of common stock.

“Our fiscal fourth quarter results demonstrate a continued focus on solid execution and our ability to consistently perform through changing market conditions. Our European segment achieved another quarter of record performance while our North American operating teams made further progress with our independent dealers to reduce and rebalance channel inventory ahead of the model year 2024 rollout. As a result of the operational and commercial strategies enacted across our operating companies during the current RV down-cycle period, THOR and its independent dealers are well-positioned for both the next cyclical upturn and sustainable long-term growth,” said Bob Martin, President and CEO of THOR Industries.

“Fiscal 2023 presented a series of challenges as a result of higher interest rates, rising inflation, increased economic uncertainty, ongoing supply chain constraints and geopolitical issues. At the same time, it highlighted the strength of our experienced operating management teams and proven business model. In response to macroeconomic pressures that drove softening retail demand that persisted throughout our fiscal year, our teams successfully adapted to these fluctuating market conditions with a focus on achieving solid through-cycle profitability. Through our disciplined production approach, targeted commercial actions and adherence to our variable cost model, we demonstrated our commitment to managing through the current environment and positioning the business to excel across the business cycle. In addition, our Company continues to generate meaningful cash flow which enables us to reinvest into our businesses to drive long-term growth and at the same time, reduce our overall debt balance,” said Martin.

Net sales for fiscal year 2023 were $11.12 billion compared to $16.31 billion for fiscal year 2022, a decrease of 31.8%. The decrease in consolidated net sales is primarily due to lower current dealer and consumer demand in comparison to record demand in the prior-year period, primarily in the North American Towable segment.

Net income attributable to THOR in fiscal year 2023 was $374.3 million, or $6.95 per diluted share, compared to net income attributable to THOR of $1.14 billion, or $20.59 per diluted share, in fiscal year 2022.

The Company’s annual effective income tax rate for fiscal 2023 was 25.1% compared with 22.0% for fiscal 2022. The primary reason for the increase in the overall annual effective income tax rate relates to a change in the jurisdictional mix of income before income taxes between foreign and domestic jurisdictions between fiscal 2023 and fiscal 2022.

Net cash provided by operating activities for fiscal 2023 was $981.6 million as compared to $990.1 million for fiscal 2022. Despite lower net income in fiscal 2023, the Company generated $317.3 million of operating cash from changes in working capital in fiscal 2023 primarily due to decreases in accounts receivable with lower sales levels and a reduction in inventory levels, as compared to a use of operating cash from working capital changes of $415.9 million in fiscal 2022 due primarily to an increase in inventory.

European RV net sales increased 26.3% for the fourth quarter of fiscal 2023 compared to the prior-year period, driven by a 23.1% increase in the overall net price per unit due to the total combined impact of changes in foreign currency, product mix and price and a 3.2% increase in unit shipments. The overall net price per unit increase of 23.1% includes a 5.7% increase due to the impact of foreign currency exchange rate changes.

European RV gross profit margin was 19.0% of net sales for the fourth quarter compared to 18.9% in the prior-year period. This slight improvement in the gross profit margin for the quarter was primarily driven by a decrease in manufacturing overhead costs as a percentage of net sales due to the increase in net sales.

European RV income before income taxes for the fourth quarter of fiscal 2023 was $101.7 million, compared to net income before income tax of $74.9 million during the fourth quarter of fiscal 2022. The improvement in income before income taxes was primarily driven by the increase in net sales.

North American Towable RV net sales were down 48.2% for the fourth quarter of fiscal 2023 compared to the prior-year period, driven primarily by a 44.7% decrease in unit shipments. The decrease in unit shipments is primarily due to a softening in current dealer and consumer demand in comparison with the unusually strong fourth quarter demand in the prior-year quarter.

North American Towable RV gross profit margin was 11.9% for the fourth quarter of fiscal 2023, compared to 15.2% in the prior-year period. The decrease in gross profit margin for the fourth quarter was primarily driven by higher manufacturing overhead and warranty percentages, partially offset by a decrease in the material cost percentage due to the combined favorable impacts of product mix changes, net selling price increases, a LIFO inventory liquidation and cost savings initiatives exceeding the impact of increased sales discounts.

North American Towable RV income before income taxes for the fourth quarter of fiscal 2023 was $55.7 million, compared to income before income taxes of $181.7 million in the fourth quarter last year, with the decrease driven by the decrease in net sales and the decline in the gross margin percentage.

North American Motorized RV net sales decreased 36.0% for the fourth quarter of fiscal 2023 compared to the prior-year period. The decrease was primarily due to a 29.4% reduction in unit shipments, but also includes a 6.6% decrease resulting from changes in product mix and net price per unit as our current-year shipments trended towards our more moderately-priced Class B and Class C units compared to the higher-priced Class A units.

North American Motorized RV gross profit margin was 8.6% for the fourth quarter of fiscal 2023, compared to 18.0% in the prior-year period. The decrease in the gross profit margin for the fourth quarter was primarily driven by an increase in sales discounts, higher material costs, primarily chassis costs, an increase in manufacturing overhead costs as a percentage of net sales due to the reduction in net sales and an increase in the warranty cost percentage.

North American Motorized RV income before income taxes for the fourth quarter of fiscal 2023 decreased to $21.0 million compared to $127.4 million a year ago, driven by the decrease in net sales and the decline in the gross margin percentage.

“Building off our fiscal third quarter performance, our fiscal fourth quarter results reflect the continuation of strong financial performance in our European segment and disciplined execution in our North American RV segments to close out fiscal 2023. Despite a challenging operating environment across the fiscal year, we delivered consolidated net sales of $11.12 billion, consolidated gross profit margin of 14.4% and net income attributable to THOR of $374.3 million,” said Colleen Zuhl, Senior Vice President and Chief Financial Officer.

“In North America, our operating companies displayed continued progress in solidifying the level and mix of channel inventory as their respective teams fully transitioned to model year 2024 production in July. Given our prudent production approach over the course of the prime RV retail selling season, our teams assisted independent dealers in destocking approximately 25,500 units of THOR products from channel inventory during the fiscal fourth quarter and reducing the number of prior model year units to more appropriate levels entering our fiscal 2024. In addition, our teams maintained a firm control on our cost structure and positioned our product portfolio to assist our independent dealer partners in meeting current retail demand,” said Todd Woelfer, Senior Vice President and Chief Operating Officer.

“Meanwhile, our European segment reported its highest quarterly income before income taxes at $101.7 million on record quarterly net sales of $1.02 billion. These record results reflect the benefits of pricing actions previously taken to offset material and other input costs, improvements in chassis supply necessary to further restock dealer inventory levels of motorized products as well as operational efficiencies. We are extremely pleased with the continued efforts of our European team to strengthen the segment’s operations and profitability. Our fiscal 2023 results demonstrate our commitment to enhancing the long-term profitability profile of the European business across the economic cycle,” continued Woelfer.

“Net cash provided by operating activities for fiscal year 2023 totaled $981.6 million, including $507.5 million provided in the fourth fiscal quarter, highlighting our highly cash-generative business underpinned by our proven variable cost model. Over the course of fiscal 2023, the Company further strengthened its balance sheet by paying down $402.4 million on the Term Loan B and $100.0 million on the ABL amid a challenging market and higher interest rate environment. We ended the fiscal year with total liquidity of $1.4 billion, including cash and cash equivalents of $441.2 million and $940.0 million available under our ABL, and we remain committed to maintaining a strong balance sheet,” added Zuhl.

“Our operational performance in the second half of fiscal 2023 provides a solid foundation as we enter fiscal 2024. Despite mixed economic data and consumer trends that are expected to continue into fiscal 2024, our experienced operating management teams and proven business model continue to give us an advantage in navigating uncertainty. As we demonstrated in fiscal 2023, we will continue to take a very disciplined approach to production planning while employing our variable cost model to prioritize profitability in the coming fiscal year. Furthermore, our strong balance sheet and cash generation profile enable us to invest in growth initiatives and drive enhanced shareholder value,” said Martin.

“Long term, we continue to be very optimistic about the growth trajectory of the RV industry. We believe strong underlying RV lifestyle interest and demographic trends will drive the market for years to come, and we are well-positioned to execute against this tremendous market opportunity. We continue to invest in automation projects that enhance product quality and drive labor efficiencies without sacrificing our variable cost model. Additionally, we continue to pursue and build out supply and aftermarket strategies aimed at improving the experience for the end consumer. Lastly, through strong strategic partnerships and organic R&D, we continue to take a thoughtful approach to investing in innovation to ensure we stay ahead of the industry and consumer demand. Overall, we are focused on leveraging our global scale as the worldwide RV market leader to support our long-term growth strategies, and we remain committed to achieving our fiscal 2027 financial targets,” concluded Woelfer.

THOR Industries is the sole owner of operating companies which, combined, represent the world’s largest manufacturer of recreational vehicles.

For more information on the Company and its products, go to www.thorindustries.com.

26/09/2023

Live from Elkhart Open House: Comprehensive Reports and Exclusive Video Coming Soon!

Today marks the beginning of Elkhart Open House, the North American event dedicated to RV dealers. The Aboutcamp BtoB team is attending the show to create a comprehensive story for the December issue of the magazine, as well as a video report that will be ready in a couple of weeks. Keep following us!

21/09/2023

Lippert Announces Leadership Changes for its EMEA Group

Lippert announced several leadership promotions in its EMEA (Europe, Middle East & Africa) Group.

Joerg Reithmeier has been promoted to the role of Group President EMEA. Joerg has had a long and decorated career in the automotive and caravanning industries spanning 27 years. Before becoming a Senior Advisor to Lippert in 2019, Joerg spent almost 10 years at the Erwin Hymer Group (EHG), serving on their board of directors from 2015 - 2019. Joerg has served as Managing Director for Lippert’s Caravanning group in Europe for the last year, bringing focus and structure to Lippert’s Italian, German and Dutch caravanning businesses. In his new role, Joerg will oversee all of Lippert’ Caravanning, Marine and Rail businesses in Europe, the Middle East and Africa.

Jason Lippert, President and CEO of Lippert, commented, “Joerg’s extensive experience in the European Caravanning Industry will help keep us on the upward trajectory that our EMEA Group has experienced for nearly a decade. Joerg has been instrumental in bringing together the many complex businesses in Europe that we’ve acquired over the years that span several different countries and cultures. Our goal is to continually build Lippert into a brand in Europe that is every bit as strong as it is here in North America. I am looking forward to seeing Joerg further our customer relationships in Europe and take Lippert to the next level with a heavy focus on product innovation, culture and customer experience.”

Joerg commented, “I enjoyed an exciting and very successful journey with Lippert in the last 4 years. We more than doubled our market share and became one of the most relevant suppliers of the caravanning industry in EMEA. The division is set up for further growth and I am looking forward to becoming Lippert’s President for all EMEA businesses. I am honored to lead highly motivated and talented teams. They’re outstanding and will help further grow our overall EMEA activities for caravanning, marine and rail. There is one thing, however, which drives me even more: to help other companies to join Lippert’s movement as a force for good and to motivate more and more European leaders to put purpose first and have impact on communities in Europe.”

Lorenzo Manni has been promoted to the role of Managing Director, Caravanning EMEA, which serves all RV and caravanning markets outside of North America. He previously held the title of Vice President of Sales, Caravanning EMEA. Lorenzo joined the Lippert team through the acquisition of Project 2000 SRL, an Italian manufacturer of bed lifts, steps and TV brackets, back in 2016. Lorenzo has an extensive background in customer relationships and business development in the European Caravanning Market that span over a decade. In this new role, Lorenzo will oversee all aspects of Caravanning EMEA as well as the Asia Pacific region.

Jason Lippert commented, “Lorenzo has proven in recent years that he is one of the most respected and capable leaders in our industry. We are excited that he will take over this new position. Lorenzo has a wide experience in our industry and knows exactly what our customers need. This is the ideal basis to develop customer-oriented products, further improve our production processes and to further strengthen our partnerships with our customers.”

“I feel humbled and honored to evolve my contribution to Lippert in the new role of Managing Director, Caravanning EMEA,” said Lorenzo. He continued, “In this new role I will work with the team to continue focusing on innovation and customer experience while keeping a close eye on market demands for cost efficiency as the upward market trend and commodities costs after Covid normalizes. We have a young, passionate and committed team and we will continue our growth path in the EMEA caravanning space.”

Michele Checcucci will extend his responsibility as Chief Business Development Officer for EMEA beyond Europe and will help Lippert introduce the North American RV Market to new and exciting caravanning products. Michele will also assume the lead role in the new RV Aftermarket Division in Europe as well as continually push the DoubleCOOL™ brand of patented acrylic door solutions for the global retail grocery market. Additionally, Michele will be responsible for helping lead Lippert’s mergers and acquisitions activities in Europe. Michele’s own company was acquired by Lippert in 2017 and he has since helped Lippert acquire several more businesses in Europe.

Jason Lippert commented, “We see significant additional potential in the aftermarket area here in Europe. There is a huge range of aftermarket products from Lippert’s North American markets which can be introduced to the EMEA market. Additionally, we want to start specific product development activities for our aftermarket segment. Michele has an outstanding instinct for new product trends. There is also a huge potential by bringing European designed products to North America. Nobody in Europe knows the industry there better than Michele. He will make all necessary efforts to add European products wherever possible to Lippert’s product offering in the US. We are convinced that we couldn’t have found anyone better than Michele for this role.”

“It is with great honor that I am given the opportunity with this broader scope of my job responsibilities,” said Michele. He continued, “The new organizational structure of Lippert EMEA represents a significant step towards our growth and development. I am delighted to be working alongside my friends and colleagues in their new roles, as well as our North American counterparts. We share a common vision, and I am determined to work together as a team to achieve the ambitious goals we have set for ourselves. This is an exciting moment for Lippert and everyone involved. I look forward to the future with confidence and am committed to contributing to the ongoing success of the company.”

Gianluca Cricchi has been promoted to Vice President of Operations for Italy and Tunisia. Gianluca joined Lippert in 2021 when he was hired as the Caravanning Operations Director. In this new role, Gianluca will extend his previous responsibility as General Manager for the Caravanning Division of Lippert Italy and will oversee all Lippert operations in Italy and Tunisia which primarily manufacture products for the Caravanning and Rail Industries. In his short time at Lippert, Gianluca has successfully streamlined many of Lippert’s European caravanning operations which consist of several different complex businesses that came through acquisitions that span from caravanning components, acrylic windows and electronic components. Gianluca will continue to drive continuous improvement, leadership development and the streamlining of operational efficiencies across all of Lippert’s European businesses.

Joerg Reithmeier commented, “With the appointment of Gianluca Cricchi we will have all Italian and Tunisian operations under one leader. Gianluca is not only highly experienced in all forms of operations and strategic production development but is also a great leader and is very much respected by our team members. Gianluca will bring our rail operations to the next level and will make sure that we leverage all potential synergies between our rail and caravanning facilities in Europe.”

“I am proud and honored to be part of Lippert,” said Gianluca. He continued, “Since I joined the company less than 3 years ago, I have seen tremendous growth in the organization. With this new structure we will further push to create synergy amongst all the best practices and competencies in the group. Our goal is to align the EMEA Group to Lippert’s goals based on our 4 pillars, innovation, customer experience, leadership development and quality, to become the ultimate trend setters in the market.”

21/09/2023

Knaus Tabbert updates revenue and margin forecast for 2023

The Management Board of KNAUS TABBERT AG has specified the forecast for consolidated revenue and now expects consolidated revenue for the financial year 2023 to be between EUR 1.35 billion and EUR 1.45 billion (previous year: EUR 1.05 billion).

The concretization of the revenue forecast is based on the ongoing stabilization of the supply chains and the associated improved planning reliability of the production processes of KNAUS TABBERT AG.

Compared to the previous planning, the Management Board now sees a significantly lower cost increase in materials procurement. The Management Board is therefore increasing its forecast for the adjusted EBITDA margin for the financial year 2023 to a target of between 8.5 % and 9.0 %.

On March 31, 2023, the Company had forecast strong Group revenue growth and an adjusted EBITDA margin of 7.5 - 8.5% for fiscal 2023. This was based on price increases vis-à-vis dealers of 6 - 8%. This forecast was last confirmed again on August 10, 2023.

The revised forecast for the financial year 2023 was based on the current market environment and assumes no significant deterioration in the geopolitical and economic environment.

The communicated medium-term targets up to 2027 remain unaffected by the adjustment of the forecast for the financial year 2023

21/09/2023

Garmin acquires JL Audio

Garmin has completed the acquisition of JL Audio, a privately-held U.S. company that designs and manufactures audio solutions, including speakers, amplifiers, subwoofers and other audio components for marine, aftermarket automotive, powersports, home and RV customers.

“We are thrilled to welcome JL Audio to the Garmin team. JL Audio has a strong reputation for providing premium audio quality, and we are excited to integrate these highly regarded features into the Garmin ecosystem. Together, we look forward to providing a best-in-class audio experience for new and existing customers around the world.” –Cliff Pemble, Garmin President and CEO

JL Audio will continue operations at its current headquarters in Miramar, Fla., and in its facilities in Portland, Ore., and Phoenix, Ariz. It employs more than 600 associates who will become part of the global Garmin team.

The JL Audio brand name will be retained, and its products will be integrated into Garmin’s marine segment. Financial terms of the transaction will not be disclosed.

Garmin is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries.