Knorr-Bremse Announces Strong Q2 Results, Raises Guidance

Munich-based Group Achieves Record Sales and Profits

Today, the Knorr-Bremse Group, a global leader in braking systems for commercial vehicles, reported strong financial results for the second quarter of 2024. The Munich-based company achieved record sales and profits, driven by strong demand for its braking and control systems.

Key Highlights

• Sales increased by 10.5% to €2.3 billion
• EBIT Margin improved to 13.1%
• Net income rose by 15.2% to €264 million
• Guidance raised for full-year 2024

"We are pleased with our strong Q2 performance, which reflects the continued high demand for our products and services," said Bernd Eulitz, CEO of Knorr-Bremse. "Our focus on innovation and customer satisfaction is paying off, and we are well-positioned to continue our growth trajectory in the coming quarters."

Outlook

Knorr-Bremse has raised its guidance for the full year 2024. The company now expects sales growth of around 9-11%, slightly higher than the previous forecast of 8-10%. The EBIT margin is expected to be in the range of 12.5-13.5%, up from the previous estimate of 12-13%.

"We remain confident in our ability to deliver strong results in the second half of the year," said Eulitz. "Our order book is strong, and we are seeing continued demand for our products and services."