Slide 1: Earnings Release H1 2025
EARNINGS RELEASE H1 2025 8 August, 2025
Slide 2: The Realignment Journey Continues
H1 2025 STATUS UPDATE The Realignment Journey Continues Premium segment model year 2026 – around 30% of prior models and layouts PRODUCT PORTFOLIO eliminated, selected new models introduced AND SALES Product roadmap model year 2027 and beyond defined, focus on strong customer segments, brand dif
Slide 3: Caravanning Market Update – Europe
CARAVANNING MARKET UPDATE – EUROPE Interest Intact, KT AG Market Share Stable REGISTRATIONS EU (Season to date) KT Market share EU (in %) -2,7% 180.977 176.034 -10,2% 18,8 50.671 45.514 16,4 +0,2 8,8 8,2 130.306 130.520 WW RM/CV Sept 2023 – June 2024 Sept 2024 – June 2025 Sept 2023 – June 2024 Sept
Slide 4: Caravanning Market Update – Germany
CARAVANNING MARKET UPDATE – GERMANY Interest Intact, KT AG Market Share Stable REGISTRATIONS DE (Season to date) KT Market share DE (in %) -1,6% 78.291 77.060 -6,1% 22,2 20,8 17.441 16.381 -0,3% 14,1 13,5 60.850 60.679 WW RM/CV Sept 2023 – June 2024 Sept 2024 – June 2025 Sept 2023 – June 2024 Sept 2
Slide 5: H1 2025 Revenues – Lower Output and Destocking
H1 2025 REVENUES – LOWER OUTPUT AND DESTOCKING Margin Reflects Operating Leverage and Inventory Sales REVENUE & ORDERBOOK ADJ. EBITDA & ADJ. EBITDA MARGIN In EUR mill. In EUR mill. / % of net revenue ORDERBOOK 302 417 1,183 1,383 1,212 467 294 140,0 12,0% 120,0 10,1% 9,4% 9,6% 10,0% 9,2% 754,2 699,4
Slide 6: Healthy Free Cash Flow Generated in H1'25
HEALTHY FREE CASH FLOW GENERATED IN H1’25 Impact from Strategic and Working Capital Initiatives Operating CF: Investing CF: Financing CF: EUR +74,1 mill. EUR -4,0 mill. EUR -71,6 mill.
Slide 7: Material Conversion of Inventories to Cash
HEADLINE INDICATORS REFLECT PROGRESS MADE Material Conversion of Inventories to Cash NET DEBT NET WORKING CAPITAL INVENTORIES In EUR mill. In EUR mill. In EUR mill. 309 284 190 335,0 271,2 2023 2024 H1 2025 259,2 274,1 TRADE RECEIVABLES In EUR mill. 247,0 198,0 85 46 54 2023 2024 H1 2025 TRADE PAYAB
Slide 8: Outlook 2025
OUTLOOK 2025 FOR THE FINANCIAL YEAR 2025, WE EXPECT TO ACHIEVE AROUND EUR 1BN IN REVENUES AND AN ADJUSTED EBITDA MARGIN TO FALL WITHIN THE REFINED RANGE OF 5.0% TO 5.5%.
Slide 9: Disclaimer
DISCLAIMER This presentation is for information purposes only and contains forward-looking statements. The information is current at the time of the presentation and is subject to change without notice. No reliance may be placed for any purpose on the accuracy, completeness or fairness of the inform