31 March 2021,
Comments Comments Off on Knaus Tabbert’s annual report shows growth plus increased revenue and earnings in 2020
Knaus Tabbert's annual report shows growth plus increased revenue and earnings in 2020
Knaus Tabbert, the European manufacturer of caravans, campers and motorhomes with its brands Knaus, Tabbert, [email protected], Weinsberg, Morelo (plus its internet platform Rent and Travel), increased its revenue and earnings in 2020 despite it being a challenging financial year.
The company reported sales of EUR 794.6 million, an increase of around two per cent compared to the previous year (2019: EUR 780.4 million).
In the second half of the year, Knaus Tabbert was thus able to accelerate production to deliver better financial performance than in 2019 despite the revenue shortfall from April caused by the coronavirus. Adjusted EBITDA was EUR 67.7 million, up 4.1 percent on the previous year’s figure of approximately EUR 65.0 million.
”The strong demand for leisure vehicles picked up again in this exceptional year. Once again, we have shown that our production system enables us to respond to short-term changes. As a result, by the end of the year we had made up for the production backlog that arose in April, and even slightly exceeded our sales expectations,” explains Wolfgang Speck, CEO of Knaus Tabbert. “The long-term trend towards personalised and eco-friendly travel will continue to fuel demand for our products. With the IPO and the significant expansion of our capacities, we will remain on course for future growth.”
The premium segment, comprising the Knaus, Tabbert, Weinsberg and [email protected] brands, recorded an increase in revenue to EUR 687.3 million (previous year: EUR 684.9 million). In the luxury segment, which is served by the Morelo brand, Knaus Tabbert increased revenue significantly by 12.4 percent to EUR 107.3 million.
A changed product mix, favourable purchasing effects and a reduction in the number of temporary agency workers led to an improvement in the cost of materials ratio of 1.3 percentage points to 69.2 per cent, while other operating expenses in relation to total revenue performance were around 0.6 percentage points higher at 8.8 percent compared to the previous year. The primary reasons for this are the costs of the IPO and additional expenses incurred for hygiene and safety measures at the Knaus Tabbert locations, during the Caravan Salon in Düsseldorf, and in the dealer network.
Before non-recurring expenses, including in particular transaction and consulting costs in connection with the IPO, adjusted EBITDA amounted to EUR 67.7 million, representing an increase of 4.1 percent (previous year: EUR 65.0 million). At 8.5 percent, the adjusted EBITDA margin was 0.2 percentage points above the previous year’s figure. Considering non-recurring expenses, EBITDA was up by 2.7 percent at EUR 66.0 million at the end of December (previous year: EUR 64.3 million). EBIT amounted to EUR 46.6 million (previous year: EUR 45.9 million); the EBIT margin reached 5.9 percent (previous year: 5.9 percent). After deducting financing costs and taxes, net profit remained at the previous year’s level of EUR 31.3 million (previous year: EUR 31.2 million).
Knaus Tabbert generated a positive operating cash flow of EUR 71.0 million in 2020 (previous year: EUR 44.1 million). Equity increased because of the IPO and the positive development of earnings from EUR 98.2 million in the previous year to EUR 123.8 million, an increase of 26.0 per cent. The equity ratio rose accordingly to 43.3 per cent (previous year: 31.6 per cent).
The number of employees in the Group – including apprentices and temporary agency workers – increased from 3,005 to 3,092 as of 31 December.
In light of the positive business development, and in line with the dividend policy announced in course of the IPO, Knaus Tabbert has proposed that a dividend of EUR 1.50 per share be distributed.
”We had earnings and costs firmly under control even in this unusual year of 2020,” said Marc Hundsdorf, CFO of Knaus Tabbert. “We will continue to invest heavily in expanding our capacity to meet rising demand and increase our market share in all segments.”
The total number of vehicles sold in the past financial year was 24,349, compared with 25,729 in the previous year. This reflects the company’s focus on sales of high-quality motorised vehicles. As an example, Knaus Tabbert set a record in the camper van category with 4,627 (previous year: 4,289) vehicles sold. The Weinsberg CaraBus and CaraTour models were particularly sought after. Added to this is a well-filled order book of 18,736 pre-ordered vehicles as of December 2020, providing a high degree of planning reliability for the current 2021 financial year. This is particularly evident against the backdrop of the continued favourable environment for caravanning, which is characterized by increased appeal to young people and the trend towards increasing regional tourism. Knaus Tabbert is convinced that it will be well positioned to meet the further increase in demand for leisure vehicles in the European growth market.
The rental platform “Rent & Travel” also looks back on its most successful year 2020. In the rental season 2020, bookings increased from 4,161 in the 2019 rental season to 13,155. This increase of 216 percent shows that the path embarked upon with “Rent & Travel” around four years ago was the right one. It is now increasingly able to attract a younger audience to this leisure activity and to Knaus Tabbert vehicles through the shared economy model.
Knaus Tabbert’s order volume as of the end of December 2020 is at a high level of EUR 640 million (previous year: EUR 395 million). In addition, inventories held by its trading partners are at an exceptionally low level, underlining the high level of demand in the market. This gives strong planning reliability for the current financial year. Overall, the Management Board, with due entrepreneurial caution, expects revenue to increase in a range of 20 – 22 percent in 2021. For earnings before interest, taxes, depreciation and amortisation (EBITDA), Knaus Tabbert also expects significant growth despite anticipated increases in material costs and start-up costs caused by the sharp rise in production. The margin will be roughly the same as in 2020 i.e. more than 8 percent – on an adjusted EBITDA basis.
adj. EBITDA margin
Operative cash flow
1 In millions of euros, unless stated otherwise; 2 Adjusted for non-recurring expenses and special items, in particular transaction and consulting costs.
Knaus Tabbert AG is a leading manufacturer of leisure vehicles in Europe with headquarters in Jandelsbrunn, Lower Bavaria. It also has locations in Mottgers and Schlüsselfeld in Germany, and in Nagyoroszi in Hungary. The company has been listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000A2YN504) since September 2020. More information is available at: www.knaustabbert.de
Australian market shows strong growth in Caravan Trailer International Trade figures for February 2021
The Caravan Trailer International Trade figures for February 2021 released by the Caravan Industry Association of Australia show a 14 percent increase in the total rolling annual imports to 11,609 units compared to this time last year.
The data, provided by the Australian Bureau of Statistics International Trade Data series, shows a total of 1169 units were imported into Australia in February, representing a record 88 percent increase on the previous year; however, although consumer demand continues to remain high, the significant growth is also reflective of weakened trading conditions in February 2020 as the initial lockdowns in China impacted the Australian import market.
This high growth trend is expected to continue over the coming months as the market continues to return to trend from the declines experienced in the first two quarters of 2020.
Year to date, imports are 67 percent higher than this time in 2020, with 2540 units arriving in Australia.
REV Group appoints Mike Lanciotti as President of REV Recreation Segment
The REV Group, which designs and manufacturers specialty vehicle brands (including several RV brands), has appointed Mike Lanciotti as President, REV Recreation Segment. In his new role, Mike will oversee all the recreation businesses and brands including Fleetwood RV®, Holiday Rambler®, American Coach®, Lance Camper®, Midwest Automotive Designs®, Renegade RV and Goldshield Fiberglass®. He will continue to report to REV Group President and CEO, Rod Rushing.
Mike Lanciotti was previously the Vice President and General Manager of Renegade RV®. He joined Renegade RV as its Executive Vice President in March 2008 and was named CEO and President four months later. Renegade RV was acquired by REV Group on December 31, 2016 and Mike was named Vice President and General Manager of REV Renegade LLC. During his 13 years with Renegade RV, Mike built the business to be a top performing recreation brand within REV Group and solidified Renegade’s position in the Super C industry classification and a premier Class C producer in all categories.
“With a successful career spanning over 20 years of consistent business performance, experience implementing quality operational controls for industry-leading profitability and product vision that drove Renegade to the top of its class, Mike is the ideal leader to direct our Recreation segment and develop cross-brand strategies,” said Rod Rushing, President and CEO, REV Group. “I am confident Mike’s operational and commercial expertise will help our businesses meet the recent increased demand while exceeding expectations of consumers who are joining the RV lifestyle.”
Prior to Renegade RV, Mike was President and Chief Operating Officer of Lock Joint Tube. During his nine-year tenure, Mike drove a significant expansion of the mechanical tube producer, from two to four plants with considerable sales and profitability growth in the process. He has also served in leadership roles at Jackson Tube Service and Copperweld Miami Division.
Mike has an Executive MBA from Baldwin Wallace University and a bachelor’s degree from Thiel College with a focus in Accounting and Mechanical Engineering.
The REV Group designs and manufacturers specialty vehicles and related aftermarket parts and services. It has a customer base, primarily in the United States, in three segments: Fire & Emergency, Commercial, and Recreation. It provides customized vehicle solutions for applications, including essential needs for public services (ambulances, fire apparatus, school buses, and transit buses), commercial infrastructure (terminal trucks and industrial sweepers) and consumer leisure (recreational vehicles). Its diverse portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of its brands pioneered their specialty vehicle product categories and date back more than 50 years.
Laika Ecovip motorhome wins Red Dot design award
A Laika Ecovip motorhome has won the prestigious "Red Dot" award 2021 in the "Product design - Motorhomes and Caravans" category.
The Red Dot Award stated: "the international panel only awards this prestigious quality title to products with exceptional design". This year's competition was particularly tough: applications were received from over 60 countries around the world.
Commenting on the award for the Laika Ecovip motorhome, Red Dot's CEO said: "With such a high number of participants it says it all about the excellent quality of your product".
The Laika Ecovip Space Concept won over the panel of judges thanks to its design of space based on the idea of living comfort, with the aim of offering travellers a motorhome built around them. Every area of the Ecovip motorhome has been designed to ensure a unique travel experience, starting with the driver's cab, where the 2.17 m long panoramic windscreen offers a full view as well as providing light to the entire vehicle. In addition, the reduced distance between the steering wheel and the windscreen (-17 cm) ensures a true 360° view and an unforgettable driving experience.
In the living area, the large right-hand side window provides even more natural light as standard. The spacious dinette with customizable ergonomic seating and a large side sofa can accommodate up to five people seated. In addition, the integration between the driver's cab and the living area is perfect thanks to the continuous line of wall units and covering with a uniform design.
The sleeping area has been studied in detail to offer maximum optimization of stowage space, with the space-saving foldaway bed step and the handy pull-out wardrobe. In addition, the multi-functional toilet door allows the sleeping area to be separated from the rest of the vehicle, providing a high level of privacy.
The new Ecovip motorhome, launched last June, are a total of nine models offering: twin beds, island or transverse double bed, L-shaped or face to face dinette (in DS models). Today these new models with their refined design receive an important international award that rewards the work carried out by the Laika team, proving to be capable of great results even during a difficult year like 2020.
Laika was founded 57 years years ago in 1964 by Giovanbattista Moscardini, who named it after the first dog in space. It is now part of the Erwin Hymer Group and uses state-of-the-art construction techniques to ensure its vehicles are built to last and designed for all climates.
Volkswagen to launch its "best Multivan ever" in late 2021
Volkswagen Commercial Vehicles has announced that it will launch its 'best Multivan ever' for the 'next automotive era' later this year.
The Volkswagen Multivan is based on the Transporter van with the added comfort of a car and unprecedented variability in the interior. The result has been a cult vehicle for generations with a unique 'Bulli' DNA. Its DNA has made the Multivan one of the most successful and well-known vans of all time. It is an automotive multitool for the family, business, sport, vacation and every travel adventure.
So far, there have been four generations of the Multivan. They are all based on the Transporter - the T3, T4, T5 and T6. An update of the current generation followed in 2019: the Multivan 6.1. The completely new Multivan will remain true to this DNA and later this year, Volkswagen Commercial Vehicles says it will be taking the Multivan and the associated lifestyle feeling into the next automotive era.
The first Multivan was launched in September 1985, when Volkswagen presented a new Multivan version of the T3 at the International Motor Show (IAA) in Frankfurt. It was a never-seen-before crossover of panel vans and cars, vans and campers - comfortable driving characteristics meet a multivariable interior concept: the rear seat can be converted into a reclining area. There was also a fold-out table in the original Multivan model. If necessary, both of these transform the van into a compact motorhome for minimalists within seconds.
Over the following 35 years, Volkswagen Commercial Vehicles continued to perfect the Multivan concept and adapt the icon generation after generation to the requirements of the time. New seat rail systems, new swivel and single seats, variable tables, increasingly intelligent infotainment and assistance systems plus greater efficiency and safety accompanied the Multivan through time.
Albert Kirzinger, Head of Design at Volkswagen Commercial Vehicles, explains what makes the Bulli a Bulli: “The core DNA is of course space. The new Multivan has plenty of space. Flexibility, usable flexibility - that's what defines every Bulli, even the seventh. Even the Multivan. "
With the new generation of a Multivan, Volkswagen Commercial Vehicles will build a bridge into the future this year. With the best Multivan of all time - more sustainable, more comfortable, safer, more intelligent, networked and of higher quality than ever before. Volkswagen Commercial Vehicles says it will transfer the unique DNA of the van icon and the attitude to life associated with it 'into the digitized and electrified age'.
As a leading manufacturer of light commercial vehicles, Volkswagen Commercial Vehicles has locations in Hanover (D), Poznań (PL), Września (PL) and Pacheco (ARG), with around 24,000 employees who produce the Transporter, Caddy, Crafter and Amarok series and, from 2022, the ID. BUZZ - the fully electric version of our Bulli icon. It is also the leading brand in the Volkswagen Group for autonomous driving and mobility services such as Mobility-as-a-Service and Transport-as-a-Service - fields in which we are shaping the future of mobility.
Teleco's shows go on
Teleco, the manufacturer of equipment for the reception of terrestrial and satellite TV signals, TV sets, navigation devices, camera systems, multimedia system and photovoltaic modules, has confirmed it will be exhibiting at the most important European trade fairs in the RV sector in Germany, France, Italy, UK and the Netherlands in 2021.
Even in 2020, despite the pandemic, Teleco still exhibited at trade fairs in Düsseldorf (DE), Parma (IT) and Bern (CH) as it was keen to meet its customers and RV enthusiasts.
“Shows, for Teleco, are an important moment for meeting both end customers and B2B customers, with whom we have been collaborating successfully for many years,” says Vittorio Simioli, co-owner of Teleco Group.
”We are aware that there is still some uncertainty due to the pandemic, however we have already managed potential problems of crowding and social distancing at the largest and most important trade fairs for our business. Everything went well at the shows we attended last year thanks to efficient organizational protocols so that the risk of contagion has always been truly minimized. Thanks to the collaboration among organizations, exhibitors and visitors it is possible to experience a safe and rewarding time at every European show in the caravanning world,” added Vittorio Simioli.
Truma wins reddot design award for new portable cooler
Truma has received the reddot design award for its new portable Truma Cooler fridges/freezers. The internationally renowned award honors the product design as well as functionality, innovation, ergonomics and durability.
The portable Truma Cooler range is available in a variety of sizes to keep food and drink cold or frozen while out and about. They are charged and powered by 12v or mains electricity. Clever design touches include an integral bottle opener, a USB port for charging devices, removable baskets, internal drain for easy cleaning, removable lids (60L and above).
The Red Dot Awards are judged annually by an international experts. They are a benchmark for creativity and design excellence.
Dave Thomas, MD of Auto-Trail, reflects on effects of COVID-19 and Brexit in an exclusive interview with Aboutcamp BtoB
In an exclusive interview with Aboutcamp BtoB, Dave Thomas, the Managing Director of the UK motorhome manufacturer, Auto-Trail, discusses the effects of the COVID-19 pandemic and Brexit on his business in 2020, plus the challenges that lie ahead.
After 25 years at Auto-Trail, starting as Design Director in 1995, just four years before it became part of the Trigano Group, and as Managing Director since 2006, Dave Thomas has seen a lot of changes in operating systems, materials, processes and machinery.
François Feuillet, CEO of Trigano, joins Forbes' 2021 list of billionaires
François Feuillet, the CEO of Trigano and President of the ECF (European Caravan Federation) is one of four new French billionaires who have joined Forbes' 2021 list of the world's billionaires.
With an estimated worth of €1.5 billion, François Feuillet has joined Forbes' 2021 list of French billionaires at position 35.
François Feuillet has been managing Trigano since 1981 and gained control of Trigano in 1986. He went on to list the company on the stock exchange and implemented an acquisition strategy of caravan and motorhome brands in Europe. In 2020, François Feuillet resigned from his position as President of Trigano's Executive Board. François Feuillet and Mrs Marie-Hélène Feuillet, together with Feuillet family members, remain the majority shareholder with the ownership of 57.80 percent of the capital and 69.31 percent of voting rights.
CyberLandr, the disappearing camper for the Tesla Cybertruck
Stream It, Inc. has announced the CyberLandr, an innovative camper/overlander unit designed for the Tesla Cybertruck. The CyberLandr is fully equipped with a kitchen, living room, bedroom, bathroom and office, yet disappears entirely within the bed of the Tesla Cybertruck for travelling. The tonneau cover and tailgate to close can still be closed, creating an exceptionally low center of gravity, zero aerodynamic drag, and minimal effect on the Tesla's range.
Because CyberLandr fits in normal parking spaces and doesn't obstruct outward visibility, it can taken to more places than most other campers — including urban adventures like soccer tournaments and league games to keep snacks cold in the fridge, have a place to relax between games, provide a restroom for the team and take a hot shower.
With the included StarLink dish providing Internet access (subscription required), users can stream HD movies to the 32-inch SmartTV/monitor, play video games, participate in a Zoom conference, and even make and receive mobile phone calls using WiFi Calling from just about anywhere (except Antarctica). The CyberLandr's plush, freestanding chairs also recline and transform into an RV-size queen bed.
It is also possible to remove and store the CyberLandr in order to utilise the storage and carrying capacity of the Cybertruck.
CyberLandr's aesthetics, features, and accompanying app are all designed to complement and enhance the Tesla Cybertruck experience. For example, the CyberLandr's marble-look porcelain kitchen countertop mirrors the Cybertruck's dashboard. And just like the Cybertruck, CyberLandr has voice activated automation to control features like lights, its electrochromic dimming windows, and even the taps. The app can also be used to deploy and stow CyberLandr, and to view the 360-degree surround surveillance system. CyberLandr even supports OTA (over-the-air) updates so it continues to improve over time.
A recirculating shower avoids running out of hot water if taking a longer shower. Radiant heated floors keep the interior comfortable when it gets cold, and the dry flush toilet means there is never a black-water tank or cassette to empty, clean, or smell. And because the CyberLandr is all electric, you never need to run around town to buy propane, gas, or diesel fuel - a simple charge is all it takes. And 500 Watts of included solar panels help replenish the Cybertruck's batteries.
An on-board four-stage water filtration system with UV sterilization ensures the water always tastes great regardless of the source, and the fresh water can be replenished when boondocking using clear water from a stream or lake.
People yearn for adventure and exploration. It invigorates, renews souls, dispels depression, and provides a new outlook on life. That is why people like to travel and experience new places. But even when air travel is no longer restricted due to a pandemic, having a vacation dictated by flight schedules, hotel check-in and check-out times, and car rental return deadlines can take a lot of joy out of travel. With CyberLandr, people are free to roam around the Earth on a whim.
Stream It, Inc. says the CyberLandr is here to usher in the post-SUV era of the eco-friendly adventure vehicle so people can enjoy more of the nature they love while treading more lightly upon it.
Erwin Hymer Group undertakes first tests of an electrically-powered caravan
With electric vehicles becoming ever more popular, the Erwin Hymer Group's Dethleffs brand brand is already performing its first test rounds with a prototype of an electrically-powered caravan.
The opportunities for caravanning fans are huge – from self-sufficient camping without shore power to reduced CO2 emissions and greater safety on the road. At the same time, there are many challenges that arise with electrically-powered caravans. For example, every kilowatt-hour not only eats up valuable space, but also increases the overall vehicle weight, which is an important factor in RV design.
Dr. Rüdiger Freimann, Head of Research and Development at Erwin Hymer Group, discusses the advantages, hurdles and special features of zero-emission trailers for the camping industry In the German "smarter E podcast," with Markus Emmert from the German eMobility Association and host Tobias Bücklein.