Knaus Tabbert AG — Interim / Quarterly Report 2021

Nov 11, 2021

Knaus Tabbert AG Quarterly Statement Q3/2021

KEY FIGURES

for the first nine months of 2021

ORDER BACKLOG

		30.09.2021	30.09.2020	Change
Number of units		37,896	22,327	69.7%
Order Volume in EUR mill.		1,392	656	112.2%

FINANCIAL KEY FIGURES

in EUR mill.	01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Change
Revenue	192.9	213.8	–9.8%	634.5	573.1	10.7%
thereof premium segment	162.6	187.2	–13.2%	544.5	494.8	10.0%
thereof luxury segment	30.3	26.5	14.3%	89.9	78.3	14.8%
Total output	210.8	217.9	–3.3%	675.3	577.3	17.0%
Earnings
EBITDA	1.5	13.6	–89.1%	45.4	46.4	–2.2%
EBITDA adjusted	1.8	13.7	–86.8%	46.5	47.4	–1.7%
EBITDA-margin adjusted	0.9%	6.4%		7.3%	8.3%
EBIT	–3.7	8.9	–141.6%	30.2	32.3	–6.6%
EBIT adjusted	–3.4	9.0	–137.2%	31.3	33.3	–5.7%
EBIT-margin adjusted	–1.7%	4.2%		4.9%	5.8%

CASHFLOW

in EUR mill.	01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Change
Operating cashflow	–45.3	–12.5	264.1%	–4.9	35.0	–114.1%
Investing cashflow	–15.4	–5.1	203.5%	–28.2	–12.3	128.8%
Free cashflow	–60.7	–17.5	246.6%	–33.1	22.7	–246.0%

BALANCE SHEET

in EUR mill.		30.09.2021	31.12.2020	Change
Balance sheet total		387.0	285.9	35.4%
Equity		128.3	123.8	3.7%
Equity ratio		33.2%	43.3%
Net financial debt		104.2	54.3	92.0%

KEY PERSONNEL FIGURES

by heads	30.09.2021	30.09.2020
Employees	3,496	2,996	16.7%

HIGHLIGHTS

• Revenue and total output grow in the first nine months of the year, with earnings slightly below the previous year's level
• Global supply bottlenecks for major components lead to significant increase in inventories due to unfinished vehicles and production downtimes
• Plant closures at MAN and FIAT in the second half of the year result in production downtimes for motorhomes
• High demand drives order backlog up to EUR 1.4 billion, or approximately 38,000 units
• Extensive investment programme launched to double production capacities to 50,000 units
• Presentation of an all-electric e-motorhome as a concept vehicle at the Caravan Salon in Düsseldorf
• New annual forecast for 2021 published

COMPANY PROFILE

Knaus Tabbert stands for mobile comfort, quality and innovation.

Knaus Tabbert, with a workforce of more than 3,000 employees, is one of Europe's leading manufacturers of recreational vehicles. With its current brand portfolio, comprising the five product brands KNAUS, TABBERT, WEINSBERG, T@B and MORELO, Knaus Tabbert is the sole supplier in Europe to cover all product segments and price ranges for motorhomes, caravans and camper vans (CUV). More than 100 employees in research and development ensure innovative and futureoriented solutions in a globally competitive environment. In recent years, the company has thus amassed a portfolio of numerous registered trademarks, patents and industrial designs that underpins its technological expertise. Lightweight constructions, fibre-reinforced frame technology and a special lightweight chassis are just a few examples illustrating Knaus Tabbert's technological edge, also with regard to environmentally-friendly electric drive solutions.

Knaus Tabbert is led by a management team with many years of experience in the caravan and automobile industries. In recent years, manufacturing at the production sites in Jandelsbrunn, Mottgers, Schlüsselfeld, as well as at the Nagyoroszi plant in Hungary, has undergone continuous standardisation and optimisation. In addition to efficient manufacturing processes with increasing automation, Knaus Tabbert relies on its cross-location production network. This provides the company with a high degree of flexibility to produce various models and brands at multiple locations. Knaus Tabbert has cultivated long-standing and reliable partnerships with around 450 dealers in 25 European countries. Sales of recreational vehicles to commercial rental companies constitute a further distribution channel. With RENT AND TRAVEL, Knaus Tabbert operates a highly successful and technologically sophisticated platform that connects prospective rental customers, travel agencies, our dealer network and numerous rental stations. The platform was founded in 2016 and now ranks among the leading rental websites for recreational vehicles in Germany.

The Knaus Tabbert share

KEY SHARE DATA ACCORDING TO XETRA TRADING SYSTEM

in EUR	01.01.2021 - 30.09.2021
Closing price of the period	63.40
Highest price	71.00
Lowest price	63.40
Share performance of the period	0.0%
Market capitalisation (in EUR mill.)	657.9

BUSINESS DEVELOPMENT

The operative business development of the Knaus Tabbert Group in the third quarter was strongly impacted by the global supply bottlenecks for a wide range of materials and components. Interrupted supply chains and semiconductor shortages resulted in a lack of deliveries, particularly of motorised chassis from FIAT and MAN. As a consequence, significantly fewer vehicles were produced or could only be partially completed. Production downtimes and major expenses for retrofitting the unfinished vehicles negatively impacted the result in the third quarter of 2021.

The delays in delivery are attributable to the ongoing COVID-19 pandemic, worldwide challenges in transporting goods and other significant global imbalances in supply and demand. Missing or delayed deliveries of specific components such as adhesives, windows, wood and aluminium, or also refrigerators, heating units and air-conditioning systems, have repeatedly given rise to production disruptions across locations, manufacturing downtimes lasting several hours, days or weeks, as well as unfinished caravans and motorhomes.

Knaus Tabbert is working intensively on stabilising the supply chains, developing alternative components and optimising overall supplier structures. Many of these measures, however, will only have a positive effect on the course of business after a delay of several months.

Order backlog secures medium-term growth

The high demand for recreational vehicles from Knaus Tabbert continues with strong momentum. With 37,896 units, the Group recorded an order backlog of EUR 1.4 billion as of the balance sheet date 30 September 2021, which is more than double that of the end of the 2020 financial year.

Difficulties along supply chains are a global phenomenon which now affects almost every aspect of our daily lives, negatively impacting countless companies from numerous industries. Higher prices, unavailability or significantly longer delivery times have become the new normal. To date, Knaus Tabbert has not received any order cancellations.

Even with fully functional supply chains, the current order backlog extends well beyond 12 months. The share of motorhomes and camper vans (CUV) in terms of units in the total order volume stood at 57 % as of 30 September 2021 (previous year: 53 %).

ORDER BACKLOG

	30.09.2021	31.12.2020	30.09.2020
Number of units	37,896	18,736	22,327
Order Volume (in EUR mill.)	1,392	640	656

Development of Group revenue and earnings

The global supply bottlenecks and the resulting production downtimes, disruptions and retrofitting expenses had an increasingly negative impact on the revenue and earnings of the Knaus Tabbert Group in the course of the third quarter of 2021. While the Luxury segment continued to grow with a plus of more than 14 %, revenue in the significantly larger Premium segment declined by approximately 13 % compared to the same period of the previous year.

In the previous nine-month reporting period, an increase of almost 15 % was achieved in the Luxury segment, and 10 % for Premium vehicles. From a Group perspective, revenue for the nine-month period is up by nearly 11 %, but down by 9.8 % quarter on quarter. The disruptions in the supply chains and the increasing shortage of motorised basic vehicles led, despite the high order backlog, to a noticeable downward revision of the previous full-year forecast in September, which was updated accordingly on 4 November 2021.

KEY FINANCIAL INDICATORS KNAUS TABBERT GROUP

01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Veränderung
192.9	213.8	–9.8%	634.5	573.1	10.7%
210.8	217.9	–3.3%	675.3	577.3	17.0%
1.5	13.6	–89.1%	45.4	46.4	–2.2%
1.8	13.7	–86.8%	46.5	47.4	–1.7%
0.9%	6.4%		7.3%	8.3%
–3.7	8.9	–141.6%	30.2	32.3	–6.6%
–3.4	9.0	–137.2%	31.4	33.3	–5.7%
–1.7%	4.2%		4.9%	5.8%

In the first nine months of the 2021 financial year, the Knaus Tabbert Group generated revenues of EUR 634.5 million, compared to EUR 573.1 million in the same period of the previous year. This corresponds to an increase of 10.7 %. Of this, EUR 544.5 million is attributable to the Premium segment (previous year: EUR 494.8 million), and the remaining EUR 89.9 million to the Luxury segment (previous year: EUR 78.3 million). The sale of vehicles accounted for 97 % of the Group's revenues, with 3 % generated in After-Sales.

The stock of work in progress (change in inventories) in particular increased substantially to EUR 36.2 million in the first nine months of 2021 (previous year: EUR -1.4 million) due to a shortage of individual components for otherwise fully finished vehicles.

REVENUE BY BUSINESS SEGMENT

in EUR mill.	01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Veränderung
Revenue	192.9	213.8	–9.8%	634.5	573.1	10.7%
thereof premium segment	162.6	187.2	–13.2%	544.5	494.8	10.0%
thereof luxury segment	30.3	26.5	14.3%	89.9	78.3	14.8%

Capacity utilisation further impacted by supply bottlenecks for vehicle chassis

Due to the continuing bottlenecks in the supply markets, the material planning for motorised vehicles proved to be increasingly challenging. In order to make the best possible use of existing production capacities and to fulfil dealer and customer requirements as effectively as possible, Knaus Tabbert has increasingly allocated existing production slots to the manufacture of additional caravans. However, a similar lack of components in this vehicle segment meant that a large number of customer vehicles could be produced, but not completely finished. With this decision, we have prioritised the optimal use of existing production capacities despite a shortage of materials.

Due to the unsatisfactory supplier situation and the limited availability of basic vehicles for motorhomes and camper vans, the sales potential of motorised vehicles resulting from the high order backlog could by no means be fully exploited. Several thousand motorhomes could not be produced due to a lack of chassis. The high flexibility of our cross-location production network proved to be a valuable prerequisite for the short-term shift in vehicle programmes towards a greater number of caravans. This was the only way to achieve an increase in revenue of 10.7 % compared to the nine-month period of the previous year.

UNITS SOLD BY PRODUCT CATEGORY
in units	01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Veränderung
Total units sold	5,432	6,566	–1,134	19,114	17,638	1,476
thereof caravans	2,894	3,340	–446	10,426	9,256	1,170
thereof motorhomes	1,779	1,959	–180	4,921	5,054	–133
thereof van conversions	759	1,267	–508	3,767	3,328	439

At EUR 2.6 million, own work capitalised remained almost constant compared to the first nine months of the previous year. Taking into account other operating income of EUR 2.1 million, total output for the reporting period increased by 17.0 % to EUR 675.3 million (previous year: EUR 577.3 million). In the third quarter of 2021, however, total output decreased by 3 % as a result of supply bottlenecks.

The cost of materials increased from EUR 398.0 million in the previous year to EUR 475.3 million in the first nine months. In relation to total output, this resulted in a material cost ratio of 70.4 % (previous year: 68.9 %). The increase of 1.4 percentage points relative to the previous year is mainly attributable to the planned increase in the number of temporary workers in the Group in order to implement the planned growth course, and thus realise the planned build-up of capacities for an increase in production output from 2022 onwards.

Knaus Tabbert commenced the targeted recruitment and training of temporary workers at all locations as early as the summer. In this way, we hope to realise a high level of quality for our planned future growth in production. Instead of personnel adjustments, we have decided to step up qualification programmes for employees who are temporarily not needed.

Excluding costs for temporary workers, the materials ratio stood at 68.6 %, and thus only slightly above the previous year's level (67.9 %).

Constant personnel cost ratio

In connection with the planned expansion of capacities, personnel expenses also increased by 16.0 % to EUR 95.7 million in the first nine months of 2021 (2020: EUR 82.5 million). In relation to total output, the personnel cost ratio (excluding temporary workers) of 14.2 % is nevertheless 0.1 percentage points below the previous year's level of 14.3 %.

HEADCOUNT DEVELOPMENT
	30.09.2021	31.12.2020	30.09.2020
Employees (by heads)	3,496	3,092	2,996

Other operating expenses impacted by COVID-19

At EUR 58.9 million, other operating expenses were up EUR 8.6 million on the previous year's figure of EUR 50.3 million. This change is mainly attributable to production restrictions arising from the COVID-19 pandemic and to lower expenses for trade fairs and the resultant decrease in expenditure in the first nine months of 2020.

Extraordinary expenses in connection with the COVID-19 pandemic

In the financial year to date, extraordinary expenses of EUR 0.9 million were incurred as a result of the COVID-19 pandemic for preventive measures to protect employees and thus safeguard production, and were taken into account accordingly in the adjusted EBITDA.

Operating result adversely affected by supply chain issues

The problems in the supply chains along with the cost development described above, in particular as a result of the planned capacity increase in the personnel sector, are also reflected in the development of the operating result. While the nine-month EBITDA, adjusted for one-off expenses, decreased only slightly by 1.7 % from EUR 47.4 million to EUR 46.5 million, the quarterly decline of 86.8 % to EUR 1.8 million (previous year EUR 13.7 million) is substantial as the revenue and earnings potential could by no means be fully exploited due to the under-utilisation of capacities, while at the same time production-related fixed costs continued to be incurred as part of a "stand-by strategy".

The adjusted nine-month EBITDA margin stands at 7.3 %, compared to 8.3 % in the same period of the previous year. Quarter on quarter, this represents a decrease from 6.4 % to 0.9 %.

Depreciation and amortisation increased by EUR 1.1 million to EUR 15.2 million in the first nine months of 2021 (previous year: EUR 14.1 million) as a result of our ongoing investments in capacity expansions to achieve the expected future growth.

Financial and net asset position

Total assets of the Knaus Tabbert Group increased, relative to 31 December 2020, by EUR 101.2 million to EUR 387.1 million as of the balance sheet date of 30 September 2021.

Non-current assets remain unchanged

At EUR 138.3 million, non-current assets were up by EUR 14.0 million compared to the previous year's reporting date of 31 December 2020. The largest items within this asset class are property, plant and equipment at EUR 117.1 million (31 December 2020: EUR 103.5 million) and intangible assets at EUR 16.2 million (31 December 2020: EUR 16.0 million). The increase in property, plant and equipment is attributable to the planned investment activity in connection with the capacity expansions that are currently being implemented.

Significant increase in current assets

At EUR 248.8 million, current assets were up by EUR 87.3 million relative to the reporting date of 31 December 2020 due to an increase in inventories of EUR 41.3 million. As reported above, this primarily occurred as a result of supply chain disruptions.

Trade receivables rose by EUR 30.2 million to EUR 40.7 million in line with the development of revenue. Moreover, other current assets increased from EUR 16.2 million to EUR 29.5 million, mainly owing to the rise in factoring receivables in the context of dealer purchase financing and turnover tax receivables.

Bank deposits include cash subject to limitations on disposal in the amount of EUR 6.5 million (31 December 2020: EUR 6.1 million). This concerns the collateral fund within the framework of the purchase financing model for dealers agreed with SKP GmbH. The reconciliation of cash and cash equivalents to the fund of means of payment, shown in the Cash Flow Statement, as of 30 September 2021 is as follows:

RECONCILIATION OF CASH AND CASH EQUIVALENTS

	30.09.2021	31.12.2020
Cash and cash equivalents	10.6	8.9
less bank balances SKP funds	6.5	6.1
Cash and cash funds	4.1	2.8

Safeguarding the delivery capability leads to an increase in current liabilities

Non-current liabilities remained almost constant at EUR 30.5 million compared to the balance sheet date of 31 December 2020, while current liabilities increased by EUR 100.5 million to EUR 228.2 million as of 30 September 2021.

On the one hand, loan liabilities were increased by EUR 55.3 million, while on the other, trade payables rose to EUR 73.6 million as of 30 September 2021 (31 December 2020: EUR 35.2 million). This increase is directly related to the higher production output, but also to the hedging of production due to a persistently tense supply situation and the resultant higher purchasing volumes and stockpiling. The strong sales month of September was particularly significant in this regard.

Equity further strengthened by positive earnings development

The increase in equity from EUR 123.8 million to EUR 128.3 million in the reporting period is primarily due to the positive earnings development of Knaus Tabbert AG. This was offset by the distribution of a dividend of EUR 15.6 million. Overall, the equity ratio decreased by 9.9 percentage points to 33.2 % relative to the balance sheet date of 31 December 2020. This development was solely driven by the temporary increase in total assets in connection with the change in current assets.

Increase in working capital negatively impacts free cash flow

In the first nine months of 2021, Knaus Tabbert generated a negative cash flow from operating activities in the amount of EUR 4.9 million, compared to EUR 35.0 million in the same period of the previous year. This development is mainly due to the change in working capital and the build-up of inventories. In the same period of the previous year, a significant reduction in inventories produced the opposite effect.

The cash flow from investment activities increased to EUR -28.2 million in the first nine months of 2021, compared to EUR -12.3 million in the same period of the previous year. Significant cash outflows occurred in connection with the planned investments to increase production capacities at the Jandelsbrunn, Schlüsselfeld and Nagyoroszi sites.

FREE CASHFLOW

in EUR mill.	01.07.2021 - 30.09.2021	01.07.2020 - 30.09.2020	Change	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020	Veränderung
Operating cashflow	–45.3	–12.5	264.1%	–4.9	35.0	–114.1%
Investing cashflow	–15.4	–5.1	203.5%	–28.2	–12.3	128.8%
Free cashflow	–60.7	–17.5	246.6%	–33.1	22.7	–246.0%

Investments in intangible assets such as development services, industrial property rights and similar assets amounted to EUR 3.8 million, reflecting the great importance of innovations within the company. At the Caravan Salon 2021, Knaus Tabbert thus presented a highly acclaimed study of the KNAUS E.POWER DRIVE, the first all-electric motorhome developed by Knaus Tabbert.

Presentation of the investment programme for 2021 – 2025

At the end of August, Knaus Tabbert announced investments with a total volume of approximately EUR 220 million to increase production capacities by 2025. The new measures are intended, in particular, to respond to the expected medium-term market environment and to bring about capacity adjustments in production. These cover all locations and segments of Knaus Tabbert, with the aim of doubling production capacities to 50,000 units.

Opportunities and risks

No material changes in opportunities and risks impacting the company's business development have occurred in the course of the 2021 financial year to date.

Industry and business developments continue to be significantly shaped by the effects of the COVID-19 pandemic, including global supply chains. In the short term, this could have prolonged repercussions on vehicle production, particularly in 2022.

Special risks in this context include:

• supply chain disruptions and material shortages, non-delivery of chassis vehicles for motorhomes, camper vans and caravans
• higher procurement prices
• business interruptions due to employee sick leave

Due to unforeseeable difficulties along the supply chains, the Management Board of Knaus Tabbert AG had to revoke the hitherto valid outlook for the 2021 financial year on 30 September 2021. These supply chain issues affect the company due to the unavailability of individual components and assemblies and the reduced supply of chassis for motorised motorhomes.

On the sales side, the persistently high demand for customised and flexible holiday options close to home should continue to support further growth in the caravanning industry.

In view of the COVID-19 crisis, the health and safety of our employees remains a top priority. In order to keep its staff as safe as possible in the current situation while maintaining a high level of production, Knaus Tabbert has implemented safety and hygiene concepts as in previous quarters, and has effectively reduced the number of contacts within the workforce through flexible working time models.

Forecast report

Following an exceedingly positive business performance in the first half of 2021, with revenues of EUR 442 million up by 23 % on the previous year and an adjusted EBITDA margin of 10.1 %, the Management Board of Knaus Tabbert AG had to revoke its hitherto valid outlook for the 2021 financial year on 30 September 2021 due to unforeseeable difficulties along the supply chains.

With the close of the third quarter and based on the currently available information regarding the ongoing delivery situation on the supplier side, the Management Board now feels it is in a position to provide an updated outlook for the financial year 2021 (published on 4 November 2021). Accordingly, the company expects an increase in Group sales of 7 % to around EUR 850 million (previous year: EUR 794.6 million) and an adjusted EBITDA margin of approximately 7 % (previous year: 8.5 %).

This outlook is subject to the proviso that no new and unexpected difficulties arise along the supply chains, in production and in the completion and delivery of products.

Jandelsbrunn, 11 November 2021

The Management Board of Knaus Tabbert AG

Wolfgang Speck Marc Hundsdorf Werner Vaterl Gerd Adamietzki

CONSOLIDATED FINANCIAL STATEMENTS as of 30 September 2021

GROUP BALANCE SHEET

ASSETS

TEUR	30.09.2021	31.12.2020
Intangible assets
Tangible assets	16,209	15,966
Other non-current assets	117,066	103,483
Deferred tax assets	2,236	1,802
Total non-current assets	2,785	3,113
Inventories	138,297	124,364
Trade accounts receivable	165,246	123,958
Other current assets	40,721	10,577
Deferred tax assets	29,480	16,198
Tax receivables	2,662	1,826
Cash and cash equivalents	10,645	8,939
Total current assets	248,753	161,499
Balance sheet total	387,050	285,863

LIABILITIES

TEUR	30.09.2021	31.12.2020
Subscribed capital	10,377	10,377
Capital reserves	26,981	26,926
Retained earnings	71,993	6,435
Profit / loss carried forward	–0	49,797
Net Income	20,035	31,327
Accumulated other comprehensive income	–1,052	–1,091
Equity	128,334	123,770
Other provisions	14,051	12,858
Amounts owed to credit institutions	3,158	5,616
Other liabilities	6,483	8,939
Deferred tax liabilities	6,815	6,906
Total non-current liabilities	30,508	34,317
Other provisions	7,243	6,459
Amounts owed to credit institutions	104,256	49,001
Trade accounts payable	73,554	35,167
Other liabilities	38,495	34,334
Tax liabilities	4,660	2,815
Total current liabilities	228,208	127,775
Other liabilities	258,716	162,093
Balance sheet total	387,050	285,863

GROUP PROFIT AND LOSS STATEMENT

TEUR	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020
Revenue	634,461	573,129
thereof premium segment	544,540	494,834
thereof luxury segment	89,922	78,295
Inventory changes	36,161	–1,416
Other capitalized assets	2,648	2,709
Other operating income	2,066	2,830
Total output	675,337	577,252
Cost of materials	–475,313	–398,023
Personnel expenses	–95,686	–82,475
Other operating expenses	–58,931	–50,313
EBITDA	45,406	46,441
Depreciation and amortization expenses	–15,191	–14,105
EBIT	30,216	32,336
Financial result	–937	–2,019
EBT	29,278	30,317
Income taxes	–9,244	–9,097
Net income	20,035	21,220
Other results	39	–561
Overall result	20,074	20,659

GROUP CASHFLOW STATEMENT

OPERATING CASHFLOW

TEUR	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020
Net Income	20,035	21,220
Adjusted for:
Depreciation and amortization expenses	15,191	14,105
Increase/ decrease of provisions	1,977	538
Other non-cash income/ expenses	1,567	728
Increase/ decrease of inventories, trade accounts receivable and other assets not attributable to investing or financing activities	–87,835	–8,548
Increase/ decrease of trade accounts payable and other liabilities not attributable to investing or financing activities	41,429	–544
Profit/ loss from the disposal of tangible assets	0	298
Interest income/ expenses	937	2,019
Tax expenses	8,977	8,783
Income tax payments	–7,210	–3,635
Operating cashflow	–4,932	34,964

INVESTING CASHFLOW

TEUR	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020
Cash inflow from the disposal of tangible assets	40	55
Cash outflow for investments in tangible assets	–24,448	–7,974
Cash outflow for investments in intangible assets	–3,759	–4,390
Interest received	9	5
Investing cashflow	–28,158	–12,305

FINANCING CASHFLOW

TEUR	01.01.2021 - 30.09.2021	01.01.2020 - 30.09.2020
Proceeds from equity contributions	0	24,742
Dividends paid	–15,566	–30,000
Cash inflow from increase of financial liabilities	89,269	76,292
Cash outflow for repayment of financial liabilities	–36,456	–88,403
Interest paid	–980	–1,925
Cash outflow for repayment of liabilities from financial leases	–1,897	–2,006
Financing cashflow	34,370	–21,300
Cash-effective change in cash and cash equivalents	1,280	1,359
Currency transalations	19	16
Cash and cash funds at the beginning of the period	2,839	1,684

ADDITIONAL INFORMATION

KNAUS TABBERT SHARE - BASIC INFORMATION

International security identification number (ISIN)	DE000A2YN504
Security identification number (WKN)	A2YN50
Ticker symbol	KTA
Stock exchange	Frankfurt Stock Exchange
Market segment	Regulated market (Prime Standard)
Share class	No-par bearer shares
Total number of shares	10,377,259 shares
First day of trading	September 23, 2021
Issue price	58.00 Euro per share
Free float	37.3%

Contact

Manuel Taverne Head of Investor Relations Knaus Tabbert AG Helmut-Knaus-Straße 1 D-94118 Jandelsbrunn

Mobile: +49 (0) 152 02092909 E-mail: m.taverne@knaustabbert.de Internet: www.knaustabbert.de

All amounts in this quarterly report are expressed in millions of euros (EUR million), unless stated otherwise. Due to commercial rounding, totals may be subject to negligible rounding differences as a result of additions. The percentages shown are calculated on the basis of the respective amounts in millions of euros. This quarterly report is available in German and English at www.knaustabbert.de. When in doubt, the German version shall prevail.