Knaus Tabbert (KTA) Q4 2023 earnings summary

Executive summary

• FY2023 revenue rose 37.3% to €1,441.0m; adjusted EBITDA increased to €123.8m and margin reached 8.6%.

• Units sold reached 30,613, with motorized units contributing 81% of revenue.

Financial highlights

• Revenue increased from €1,049.5m in FY2022 and €862.6m in FY2021 to €1,441.0m in FY2023.

• Adjusted EBITDA was €123.8m in FY2023, versus €70.1m in FY2022 and €60.7m in FY2021; adjusted EBITDA margin was 8.6%, 6.7% and 7.0%, respectively.

• Net income was €60.3m; operating cash flow was €32.1m and free cash flow was -€21.7m.

Outlook and guidance

• FY2024 revenue is expected to be €1.4bn–€1.55bn; adjusted EBITDA margin is forecast at 8%–9%.

• No higher retailer prices are planned for the remainder of model year 2024, ending July 31, 2024.