Knorr-Bremse Reports Notable Profitability Increase in Early 2024

Knorr-Bremse AG, a leader in braking systems and other rail and commercial vehicle technologies, has reported a significant increase in profitability for the first quarter of 2024. The company recorded a substantial rise in operating EBIT by 24% to €238 million, improving the operating EBIT margin from 10.0% to 12.1%. This was accompanied by a 3.5% increase in revenue to approximately €1.97 billion.

With a robust order intake of €2.1 billion and an order book valued at €6.7 billion, Knorr-Bremse confirmed its full-year guidance for 2024, projecting revenues between €7.7 billion and €8.0 billion, with an operating EBIT margin forecast of 11.5% to 12.5%. The company's recent acquisitions and sales under the BOOST 2026 strategy aim to refine the company's portfolio and enhance its market position, particularly highlighted by the procurement of a rail signaling technology business from Alstom in North America.

The Rail Vehicle Systems Division saw a handsome revenue increase of 12.7% to €964 million, with operating EBIT up by 30.1%. Conversely, the Commercial Vehicle Systems Division experienced a slight revenue dip of 4.0%, although its operating EBIT also marked a positive change, escalting by 16.8%. This diversification in business performance underscores Knorr-Bremse's adaptability in variable market conditions.