Knaus Tabbert (KTA) Q3 2026 earnings summary

Executive summary

• 9M revenue declined 8.5% to €697.0m, while adjusted EBITDA rose to €40.5m and margin improved to 5.8%; net profit was €3.8m versus a €19.5m loss.

• Cost and efficiency measures supported stronger profitability; weak demand and June 2027 refinancing remain key concerns.

Financial highlights

• 9M total output rose 4.4% to €726.0m; inventory changes and other items were €29.0m versus €65.8m.

• Q3 revenue increased 1.8% to €193.1m and total output rose 9.4% to €206.5m; EBITDA improved to €4.2m from a €2.9m loss.

• 9M adjusted EBIT was €20.6m versus a €6.2m loss; adjusted EBITDA was €40.5m versus €19.8m.

• 9M operating cash flow was €29.4m, investing cash flow -€7.6m and free cash flow €21.8m; Q3 free cash flow was slightly negative.

• Net financial debt was €301.4m; inventories were €187.7m and net working capital was €185.1m.

Outlook and guidance

• FY 2026 guidance reaffirmed: revenue of ~€950m and adjusted EBITDA margin of 5.0%–6.0%.

• Guidance assumes cautious dealer orders, weaker end-customer demand and prudent Q4 production planning, without material further deterioration in demand, pricing or market conditions.

• Orderbook was €461m, down 3.1% YoY; production is being aligned with demand, with cost, productivity, working-capital and liquidity control remaining priorities.