EQS-Adhoc: Knorr-Bremse Aktiengesellschaft: Knorr-Bremse Publishes Preliminary Financial Figures for the Second Quarter of 2024 and Raises Guidance for 2024
EQS-Ad-hoc: Knorr-Bremse Aktiengesellschaft / Key word(s): Change in Forecast/Preliminary Results
Knorr-Bremse Aktiengesellschaft: Knorr-Bremse Publishes Preliminary Financial Figures for the Second Quarter of 2024 and Raises Guidance for 2024
29-Jul-2024 / 16:24 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
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Publication of Inside Information Pursuant to Article 17 of Regulation (EU) No. 596/2014
Knorr-Bremse AG
Moosacher Str. 80
80809 Munich, Germany
ISIN: DE000KBX1006
Knorr-Bremse Publishes Preliminary Financial Figures for the Second Quarter of 2024 and Raises Guidance for 2024
Munich, July 29, 2024
Knorr-Bremse AG is expecting the following preliminary financial figures for the Group for the April through June 2024 reporting period (Q2/24):
Revenues of approximately €2.01 billion (consensus: €1.99 billion) Order intake of approximately €2.13 billion (consensus: €1.97 billion) Operating EBIT of approximately €252 million (consensus: €243 million) Operating EBIT margin of approximately 12.5% (consensus: 12.2%) Net income of €144 million due to negative non-cash non-recurring effects (consensus: €156 million) and consequently earnings per share of €0.90 (consensus: €0.97) Preliminary free cash flow of approximately €158 million (Q2/23: €34 million)Some of the preliminary key financial figures for Q2/24 exceed analyst expectations as summarized in the most recent Vara Research consensus dated July 23, 2024 for Q2/2024 and confirm the overall strong business performance in the second quarter.
Based on the strong business performance in the second quarter of 2024 and the developments expected for the second half of 2024, the Executive Board is raising the guidance for the operating EBIT margin for fiscal year 2024:
Knorr-Bremse continues to expect revenues of between €7,700 million and €8,000 million, an operating EBIT margin of now between 11.5% and 13.0% (previously 11.5% to 12.5%) and an unchanged free cash flow of between €550 million and €650 million. This guidance does not take into account the acquisition of the rail signalling technology business of Alstom in North America, which has yet to be completed.
The complete half-year and Q2 report for 2024 will be published as planned on August 8th, 2024.
Media contact
Alexander Stechert-Mayerhöfer
SVP Corporate Communications
Phone: +49 89 3547 1942
e-mail: alexander.stechert-mayerhoefer@knorr-bremse.com Contact Investor Relations
Andreas Spitzauer
Head of Investor Relations
Phone: +49 89 3547-182310
e-mail: investor.relations@knorr-bremse.com
This publication contains forward-looking statements about the business, financial development, and earnings of the Knorr-Bremse Group.
These statements are underpinned by assumptions and forecasts that are based on currently available information and current assessments. They are subject to a large number of uncertainties and risks. Consequently, actual business development may vary significantly from the expected development.
Knorr-Bremse does not assume any obligation to update forward-looking statements beyond the requirements imposed by law.
End of Inside Information
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