JANDELSBRUNN (dpa-AFX) - Caravan and motor home manufacturer Knaus Tabbert has raised its margin forecast for this year. Because prices for material purchases have risen much more slowly than expected, the company will be more profitable this year than last expected, Knaus Tabbert announced Wednesday in Jandelsbrunn.

Based on sales, Knaus Tabbert aims to earn 8.5 percent to 9.0 (previous year: 6.7) percent before interest, taxes, depreciation, amortization and special effects (Ebitda) in the current year. The company had previously forecast a margin of 7.5 percent to 8.5 percent.

The Management Board also specified its sales forecast at 1.35 billion to 1.45 billion euros. This would be a strong increase after Knaus Tabbert exceeded the billion euro mark for the first time last year. The previous forecast had spoken only of "strong sales growth."

According to the updated forecast, the group now expects an adjusted operating profit of between around 115 million euros and just over 130 million euros. In 2022, Knaus Tabbert had posted sales of just over one billion euros and operating earnings of around 70 million euros.

The share, which has been listed on the stock exchange since September 2020, was up a good seven percent on the Tradegate trading platform this morning compared with the Xetra close, to almost 56 euros. The company is currently valued at just over half a billion euros. However, the share price is still below the issue price of 58 euros./zb/jcf/mis