Cost cuts drive Knaus Tabbert H1 profit up 58.6% as Germany, Europe sales drop

Knaus Tabbert reported a sharp first-half profit increase despite an 11.9% revenue decline, as cost cuts lifted margins amid persistently weak recreational vehicle demand. Adjusted EBITDA rose 58.6% to EUR 36.0 million, while revenue fell to EUR 503.9 million and unit sales dropped 8%. The adjusted margin widened to 7.1% from 4.0%. Management kept full-year revenue guidance at about EUR 950 million but narrowed its EBITDA margin forecast to 5–6%. European motorhome registrations fell 14.6% in the second quarter, with Germany down 24.4%. The company cited lower operating expenses and reduced dealer insolvency losses for the earnings improvement, while refinancing debt due in June 2027 remains a critical priority.