Knorr-Bremse AG Publishes Preliminary Q2 2024 Results and Raises Guidance

Munich, July 29, 2024 – Knorr-Bremse AG, a global leader in braking systems, has released its preliminary financial results for Q2 2024. The company reports a 13% increase in operating EBIT to approximately €252 million, translating to an operating EBIT margin of around 12.5%.

Order intake for the period reached €2.1 billion, and sales revenue amounted to about €2.01 billion. Additionally, free cash flow has seen a notable rise, quadrupling to €158 million compared to €34 million in Q2 2023. Earnings per share have also increased to €0.90.

The company attributes these positive outcomes to its 'BOOST 2026' strategy, which has improved sales revenues and efficiency. CFO Frank Weber noted that the efficiency measures have achieved around 50% of the profitability targets. Knorr-Bremse is thus raising its full-year guidance for 2024, expecting sales revenue to be between €7,700 million and €8,100 million and an operating EBIT margin between 11.5% and 13.0%.