Knaus Tabbert (KTA) investor relations material

Executive summary

• Q1 2026 saw significant EBITDA improvement year-over-year, driven by operational stabilization, cost base adjustments, and productivity improvements, despite lower reported revenue.

• Healthy cash flow generation resulted from both working capital and operational measures.

• Inventory effects that distorted prior year results have largely normalized, supporting a more sustainable revenue and margin profile.

• Net income improved to €3.8 million from a loss of €4.7 million in Q1 2025, reflecting cost adjustments and operational measures.

Financial highlights

• Revenue for Q1 2026 was €249.1 million, down 13.7%-15.7% year-over-year, mainly due to prior inventory clearance and lower sales volumes.

• Adjusted EBITDA increased to €15.6 million (6.3% margin) from €8.5 million (2.9% margin) in Q1 2025.

• Operating cash flow was €32.6 million, with disciplined investment cash flow of -€2.1 million, resulting in strong free cash flow.

• Net financial debt decreased 12.7% to €283.8 million, supported by cash generation and reduced financial liabilities.

• Order backlog at €363 million, up from €341 million year-over-year.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: revenue around €950 million and adjusted EBITDA margin of 5%-7%.

• Management expresses confidence in achieving guidance, with Q1 performance seen as a solid base.