Knorr-Bremse Shares Rise After 3Q Revenue Increased, 2022 Guidance Backed

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by Maitane Sardon

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Shares of Knorr-Brems AG rose on Thursday after the company reported increased third-quarter revenue and supported its guidance for the full year.

At 0838 GMT, shares were trading up 8.7% at 52.18 euros.

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The German brake maker posted revenue of 1.79 billion euros ($1.79 billion), up from EUR1.59 billion in last year’s third quarter.

Order volume increased 31% to 1.88 billion euros, while the order book also increased to 6.87 billion euros, Knorr-Brems said.

The company’s operating income before interest and tax margin was 11.3% in the third quarter compared to 10.5% in the second quarter.

“We remain on course,” said Chief Financial Officer Frank Marcus Weber. Knorr-Brems achieved a pleasant result in the first nine months of 2022 and significantly increased its revenue in a very uncertain time.

Knorr-Bremsey said it expects revenue for the full year to be between EUR 6.9 billion and EUR 7.2 billion, with an operating EBIT margin of between 10.5% and 12.0%, and free cashflow of between EUR300 million and EUR500 million. Is.

Write to Maitane Sardon at [email protected]

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