Knaus Tabbert pauses production
Knaus Tabbert pauses production
The German caravan, campervan and motorhome manufacturer, Knaus Tabbert, has paused production at its headquarters in Lower Bavaria and in Nagyoroszi, Hungary.
Peter Vaughan Content Editor: Motorhomes
Peter Vaughan Content Editor: Motorhomes
The Management Board of Knaus Tabbert AG decided today to cease production at the sites in Jandelsbrunn and Nagyoroszi, Hungary, from 18 November, 2024 until the end of the year
The majority of the approximately 4,000 employees work at the two plants.
The aim is to reduce production volumes and thus bring the numbers of vehicles at its dealers to an economically sustainable level. In addition to the two plants in Hungary and Lower Bavaria, Knaus Tabbert also manufactures caravans in Mottgers and luxury liner motorhomes (from Morelo) in Schlüsselfeld in Upper Franconia. These two sites are not affected by the production break.
The recently issued sales target of €1.3 billion for 2024, which had already been significantly reduced compared to the beginning of the year, will therefore be missed by a wide margin, the company has stated. Last year, the company had still achieved a turnover of €1.4 billion but it has already had to issue two profit warnings this year, although it points to an order backlog that remains solid at over half a billion euro), reflecting continuing healthy demand from customers.
Following the announcement, Werner Vaterl, long‐standing COO of Knaus Tabbert AG, has taken over the role of CEO on an interim basis following the resignation of Wolfgang Speck. Mr Vaterl will be supported by his long‐standing colleague on the Management Board and Chief Sales Officer, Gerd Adamietzki
In my new role as CEO of Knaus Tabbert AG, my goal is to lead the company through the current consolidation period after years of strong growth.
We have already implemented the first measures together with Wolfgang Speck since the
summer by launching a dedicated package to support our dealer network and we see positive developments in that respect. We have equally started adapting our strategy to focus on increasing efficiency and profitability in the long term.
However, shares in Knaus Tabbert plummeted following the announcement of the production stoppage. This year, the share price has fallen by just over 70%. In spring 2021, the company was valued at almost €800 million.
This level is a long way off following the significant decline this year. The company is currently valued at just over €130 million. The Dutch investment company, HTP, owns 41% of the shares.
