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Knaus Tabbert (KTA) investor relations material
Knaus Tabbert Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic realignment and operational restructuring addressed challenges through cost base adjustments, working capital improvements, and liquidity generation, including personnel reductions and renegotiated supplier terms.
End-customer demand remains strong, supporting medium-term strategy despite macroeconomic headwinds, dealer uncertainty, and industry rebalancing.
Product portfolio streamlined with new model and pricing strategies, focusing on attractive customer segments and brand differentiation.
Market remains saturated, with persistent price pressure, cautious dealer behavior, and supply chain bottlenecks impacting planning and production stability.
Significant progress in reducing inventories and receivables, with investments focused on high ROI and critical projects.
Financial highlights
Revenue for the first nine months of 2025 ranged from €761.5 million to €1,074 million, with adjusted EBITDA between €16.7 million and €60.0 million.
Adjusted EBITDA margin for the nine months was between 2.6% and 5.6%.
Free cash flow improved significantly, reaching up to €60 million for the nine months.
Net debt figures varied, with a decrease to €181 million in Q3'25 and a reported €289.7 million at other points.
Order backlog at September 30, 2025, was €476 million, down 17.5% year-over-year.
Outlook and guidance
Full-year 2025 revenue is expected to be around €1 billion, with adjusted EBITDA margin forecast at the lower end of the 3.2%–4.2% range.
Q4 is expected to be a strong production and profitability quarter, despite recent production replanning.
2026 outlook is under review, with further adjustments possible due to a more challenging market.
Management increased the probability of risk regarding non-compliance with minimum EBITDA covenants but considers contract termination unlikely.
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