EQS-News

Knorr-Bremse Increases Profitability Significantly at the Beginning of the Year

EQS-News: Knorr-Bremse Aktiengesellschaft / Key word(s): Quarter Results/Quarterly / Interim Statement Knorr-Bremse Increases Profitability Significantly at the Beginning of the Year 08.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Knorr-Bremse Increases Profitability Significantly at the Beginning of the Year

• Demand in both divisions continued to be robust in first quarter of 2024: order intake at € 2.1 billion, order book at € 6.7 billion
• Revenues up 3.5% year over year at approximately € 1.97 billion
• Operating EBIT rises 24% to € 238 million, operating EBIT margin from 10.0% to 12.1%
• M&A initiatives under BOOST 2026 strategy program fully on track: Kiepe Electric and SafetyDirect sold, rail signaling technology business acquired from Alstom in North America
• Full-year guidance 2024 confirmed
   

Munich, May 8, 2024 – Knorr-Bremse AG, the global market leader for braking systems and a leading supplier of other safety-critical rail and commercial vehicle systems, was able to increase its profitability further in the first quarter of 2024.

Marc Llistosella, Chief Executive Officer (CEO) of Knorr-Bremse AG: “We are very happy with the strong start in 2024. Not only did we bring in solid financial results, but we also achieved the first important milestones of our BOOST 2026 strategy program. The sales of Kiepe Electric and SafetyDirect are evidence of our successful portfolio optimization. At the same time, we are determinedly carrying out a transformation of the Group, and the recently announced acquisition of Alstom’s rail signaling technology business in North America is a good example of this. The purchase is a boost for our rail business and is particularly valuable for us thanks to the promising market development, high margins, and its very profitable service business.”