Knorr-Bremse AG (CHIX:KBXd)
€ 82.38 (0%) Market Cap: 14.02 Bil Enterprise Value: 15.72 Bil PE Ratio: 32.81 PB Ratio: 4.47 GF Score: 79/100
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Q3 2024 Knorr Bremse AG Earnings Call Transcript

Oct 31, 2024 / 12:00PM GMT
Release Date Price: €75.65 (-5.73%)

Key Points

Positve
  • Knorr-Bremse AG (KNRRY) reported strong order intake of over EUR 1.9 billion, with a book-to-bill ratio of 1.02, indicating robust demand.
  • The company successfully issued a dual tranche bond amounting to EUR 1.1 billion, including its first green bond, which was four times oversubscribed.
  • The Rail Vehicle Systems (RVS) division saw a 7% increase in revenue, driven by strong performance in the Asia Pacific region and North America.
  • Knorr-Bremse AG (KNRRY) increased its guidance for 2024 following the successful acquisition of KB Signaling in North America.
  • The company demonstrated innovation and quality at recent industry fairs, receiving positive feedback for its sustainable and green mobility solutions.
Negative
  • The Commercial Vehicle Systems (CVS) division experienced a 9% decline in revenue due to weak truck markets in Europe and North America.
  • Truck production rates in key markets like Europe and North America declined year-over-year, impacting the CVS division's performance.
  • The company faces ongoing challenges in the truck market, with expectations of continued weakness into the first half of 2025.
  • Despite strong order intake, the CVS division's operating EBITDA margin decreased by 60 basis points to 10%.
  • Supply chain issues with specialist suppliers in the rail industry persist, affecting inventory levels.
Operator

Good afternoon, ladies and gentlemen, and welcome to the Q3 2024 results call of Knorr-Bremse (Operator Instructions).

Let me now turn the floor over to your host, Head of Investor Relations, Andreas Spitzauer.

Andreas Spitzauer
Knorr Bremse AG - Head of Investor Relations

Thank you, operator. Good afternoon as well as good morning, ladies and gentlemen. I hope all of you are very, very fine. My name is Andreas Spitzauer, Head of Investor Relations of Knorr-Bremse, and I want to welcome you to today's conference call regarding the third quarter results of 2024.

Today, Marc Llistosella, our CEO; and Frank Weber, our CFO, will present the results of Knorr-Bremse followed by a Q&A session. The conference call will be recorded and is available on our homepage, www.knorr-bremse.com in the Investor Relations section. Here, you can find today's presentation and later a transcript of the call. It is now my pleasure to hand over to Marc Llistosella. Please go ahead.

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