Knorr-Bremse Publishes Preliminary Q2 2024 Financial Figures and Raises 2024 Guidance

Knorr-Bremse AG has released preliminary financial figures for the second quarter of 2024, surpassing analyst expectations in several key metrics. The company reported revenues of approximately €2.01 billion, higher than the consensus of €1.99 billion. The order intake was around €2.13 billion, exceeding the expected €1.97 billion. Operating EBIT reached €252 million, above the anticipated €243 million, and the EBIT margin stood at 12.5%, compared to the expected 12.2%.

Despite reporting a net income of €144 million, slightly under the consensus of €156 million due to negative non-cash non-recurring effects, the preliminary free cash flow for Q2/24 was €158 million, significantly higher than the €34 million recorded in the same period last year.

Given the robust performance, Knorr-Bremse has adjusted its guidance for the 2024 fiscal year. The company now expects an operating EBIT margin between 11.5% and 13.0%, up from the previous 11.5% to 12.5%. Revenue projections remain between €7,700 million and €8,000 million, with an unchanged free cash flow forecast of €550 million to €650 million.

The full half-year and Q2 report for 2024 will be published on August 8, 2024.