Slide 1: Knaus Tabbert AG Q3 2020 Earnings Report Presentation
Knaus Tabbert AG Q3 2020 Earnings Report Presentation 12 November 2020
Slide 2: Disclaimer
Disclaimer This presentation and the information contained herein are for information purposes only and should not be treated as investment advice or recommendation. It is not, and nothing in it should be construed as an offer for sale, or as a solicitation of an offer to purchase or subscribe to, a
Slide 3: Our mission: we change the way people go on vacation
Our mission: we change the way people go on vacation Personalisation & choice Freedom Comfort & privacy ▪ High-quality interior ▪ Extensive variety of different ▪ Explore the world where you combined with world-class leisure vehicles (LVs) and want and whenever you want LVs allows for highest config
Slide 4: Knaus Tabbert – a leading manufacturer of leisure vehicles in Europe
Knaus Tabbert – a leading manufacturer of leisure vehicles in Europe c.210,000 units sold Top 3 in Europe in 2019 Manufacturer of leisure vehicles in Europe Significant market opportunity covering all market segments1 in Europe2 25,729 €89 million Units sold by KTG in 2019A of CapEx3 invested for fu
Slide 5: Agenda
Agenda 9M Highlights & Financials Strategy & Outlook Q & A Session 5
Slide 6: 9M 2020 Highlights
9M 2020 Highlights ➢ Successful IPO provides financial basis for future growth ➢ Ground-breaking for expansion of the Hungarian facility Important Mile- ➢ Very successful participation at Caravan Salon Düsseldorf in September with sales volumes significantly above 2019 stones achieved ➢ 9M sales of
Slide 7: Successful IPO provides solid foundation for future growth
Successful IPO provides solid foundation for future growth 98.2 113.6 Copyright: Frankfurt Stock Exchange Basic Information Shareholder structure Equity development (€ million) Stock Exchange: Frankfurt 35.6% 31.6% ▪ H.T.P. ISIN: Investments 1 B.V DE000A2YN504 (37, 58%) Segment: Prime Standard ▪ Cat
Slide 8: Caravan Salon 2020
Caravan Salon 2020 – The world`s largest trade fair for motor homes and caravans > 106,000 Visitors under restricted health management measures ➢ Caravan Salon, Düsseldorf, successfully took place in September 2020 as first in-person trade fair in Germany during pandemic ➢ High interest of visitors
Slide 9: Strong net revenue development with a deliberate shift to van conversions and motorhomes
Strong net revenue development with a deliberate shift to van conversions and motorhomes Revenue (EURm) Revenue Split1 Caravans +33.5% 213.8 9M 2019: 29% 160.2 9M 2020: 27% Q3 2019 Q3 2020 Van conversions 9M 2019: 19% 9M 2020: 21% +3.4% 554.2 573.1 Motorhomes 9M 2019: 49% 9M 2019 9M 2020 9M 2020: 50
Slide 10: Profitability further enhanced despite challenging environment
Profitability further enhance despite challenging environment …a solid Nine track record Months of increasing adj. EBITDA profitability… margin on track after extraordinary Q3, significantly exceeding prior levels. Adj. EBITDA1 and adj. EBITDA margin evolution (EURm) 7.7% 8.2% 4.7% 6.3% +5.4% 47.4 4
Slide 11: Efficient Working Capital Management boosts Cash Flow from operations to EUR 35m
Efficient Working Capital Management boosts Cash Flow from operations to EUR 35m Operating Cash Flow after nine months increases almost tripled. Operating Cash Flow (EURm) EBITDA - Capex (EURm) 61.6% 82.8% Cash Conversion 35 38 27 12 9M 2019 ▪ Operating 9M 2020 9M 2019 ▪ EBITDA - 9M 2020 Cash Flow C
Slide 12: Record order backlog driven by sustainable demand
Record order backlog driven by sustainable demand A strong pipeline providing sales visibility into 2021 Order backlog development ➢ 7% higher sales at Caravan Salon Düsseldorf ➢ Strong demand from dealer network due to low stockpile ➢ Covid-19 as an additional 22,327 accelerator for sustainable und
Slide 13: Agenda
Agenda 9M Highlights & Financials Strategy & Outlook Q & A Session 13
Slide 14: Attractive market with key structural growth trends
Attractive market with key structural growth trends New work Aging population ▪ People get older with wealthy ▪ Freedom in work design with consumers moving into key regard to smart location and customer age of 45 years and time older ▪ Blurring of clear separation 7 1 ▪ “Forever youngsters“ don’t b
Slide 15: Focused brand strategy across a modern, extensive, and innovative product range
Focused brand strategy across a modern, extensive, and innovative product range Caravans Van conversions Motorhomes Net revenue CAGR ’17A – ’19A: Net revenue CAGR ’17A – ’19A: Net revenue CAGR ’17A – ’19A: 12.9% 8.0% 19.7% (End customer price in EURk as of July 156 – 635 2020) 20 – 70 43 – 63 40 – 5
Slide 16: Rent and Travel as an additional avenue to increase sales into the rental market
‘Rent and Travel’ as an additional avenue to further increase KTG’s sales into the rental market Rent and Travel – visualisation Rent and Travel programme 11,627 Bookings 3,815 Exclusive provider of vehicles 9M 2019 9M 2020 Number of c. 2.500 c. 1.900 KTG Information available through vehicles avail
Slide 17: Capex initiatives on track – Ground breaking on production expansion in Hungary
Capex initiatives on track – Ground breaking on production expansion in Hungary Planned capex investments of c. EUR 75m for the next 12-24 months to be partly funded by the EUR 20m IPO capital increase EUR 17.5m EUR 4m EUR 5m EUR 9m p.a. Jandelsbrunn plant Azure Frame/ New product Area and infrastru
Slide 18: Outlook 2020 and mid-term Guidance confirmed
Outlook 2020 and mid-term Guidance confirmed Outlook for full year 2020 confirmed, sales and EBITDA expected to be around the same level as the previous year (2019: EUR 780.4 million sales, EUR 64.3 million EBITDA) Record order backlog provides visibility and supports planning reliability well into
Slide 19: Agenda
Agenda 9M Highlights & Financials Strategy & Outlook Q & A Session 19
Slide 20: Why invest in Knaus Tabbert?
Why invest in Knaus Tabbert? Attractive market with ~13% growth (CAGR ’14-’19) in newly- Attractive market 1 registered motor caravans in Europe supported by change in opportunity consumer behavior 2 Strong market Top 3 European leisure vehicle producer1 well positioned to gain position further mark