Exceptional Year for Knorr-Bremse: Record Revenue and European Expansion

Munich, Germany, February 22, 2024 – Knorr-Bremse AG, the global leader in braking systems and other systems for rail and commercial vehicles, is celebrating a record year with approximately 7.9 billion euros in revenue in 2023. This success confirms key global trends such as urbanization, sustainability, digitalization, and mobility, where Knorr-Bremse continues to play a leading role. The company announced these positive results in a press release distributed by EQS News Service. With around 33,000 employees spread across more than 100 sites in about thirty countries, Knorr-Bremse is committed to developing and producing innovative solutions and services that meet the highest technological standards.

In 2023, Knorr-Bremse's two divisions generated impressive results. The rail vehicle systems division saw a 10.2% increase in revenue, reaching 3.747 billion euros. The commercial vehicle systems division also experienced strong growth of 11.5%, with revenue of 4.180 billion euros.

Furthermore, the company strengthened its commitment to sustainability by setting ambitious goals for reducing greenhouse gas emissions (GHG). Knorr-Bremse aims to reduce its direct and indirect GHG emissions (scopes 1 and 2) by 75% by 2030 from the 2018 baseline year, as well as to decrease GHG emissions in its supply chain, transportation, and product use (scope 3) by 25% by 2030 from 2021.

In addition to making significant strides in sustainable development, Knorr-Bremse also continued to innovate in the field of digitalization. The company reinforced its position as a leader in connected solutions to enhance safety and efficiency on railways and roads worldwide.

Jan Mrosik, CEO of Knorr-Bremse AG, stated: "We are extremely proud of our achievements in 2023, a record year for Knorr-Bremse. Our financial results demonstrate the strength of our innovations and our commitment to sustainability. As a company, we are well positioned to capitalize on global trends and continue our success in the future."

Knorr-Bremse has also announced its intention to further expand in Europe, strengthening its presence in the market and expanding its influence in the rail and commercial vehicle industry.

As Knorr-Bremse continues to lead the way in the transportation industry, the company is clearly forward-looking, ready to tackle challenges and seize opportunities as they arise.

R. H.