Q2 2026 Knorr Bremse AG Earnings Call Transcript

Jul 30, 2026 / 09:00 AM GMT

Release Date Price: MXN1962.7

Transcript

Key Points

Positve

Knorr-Bremse AG (KNRRY) achieved its highest quarterly operating EBIT margin in five and a half years at 14.2%, driven by structural improvements and strong market conditions.
The Rail division (RVS) delivered strong organic revenue growth of 5% and a record order backlog of over EUR5.9 billion, providing high revenue visibility.
The Truck division (CVS) showed resilience with an 8% organic revenue increase and a 150 basis point margin improvement to 11.8%, despite challenging truck production rates.
Free cash flow improved significantly to EUR262 million in Q2 2026, reflecting higher earnings and disciplined working capital management.
The company launched its 'Growth Beyond' strategy with ambitious 2030 targets, including organic revenue of around EUR10 billion and an operating EBIT margin of approximately 16%.
The sale of the HVAC business is on track, completing the portfolio optimization program and strengthening the company's focus on core operations.

Negative

Order intake in the Rail division (RVS) decreased by 12% in Q2 2026, reflecting the lumpy nature of project-driven rail orders.
The Truck division (CVS) faces ongoing challenges from weak truck production rates, particularly in North America and Europe, which have been below expectations.
The company's 2030 truck market outlook is cautious, anticipating a weak European market in 2030 due to a pre-buy effect ahead of Euro 7 emission standards.
Foreign exchange headwinds have cost the company approximately EUR500 million in revenue from 2022 to 2026, impacting overall financial performance.
The company took a write-down on its minority stake in Nexiot, signaling underperformance in its digitalization strategy and a need for restructuring in recent acquisitions like Duagon.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KBX.DE - Knorr Bremse AG
Q2 2026 Knorr Bremse AG Earnings Call
Jul 30, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Knorr Kwensa's conference call for the second quarter 2026 results. This conference is being recorded. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to your host, Andreas Espitzawa, Head of Investor Relations.

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Unidentified_2 [2]
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Thank you, operator. Good afternoon, as well as good morning, ladies and gentlemen. I hope all of you are very fine. My name is Andreas Spitzhauer, Head of Invest Relations.

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