Knorr-Bremse AG (XTER:KBX)
€ 86.1 -0.85 (-0.98%) Market Cap: 13.88 Bil Enterprise Value: 15.58 Bil PE Ratio: 32.81 PB Ratio: 4.47 GF Score: 79/100
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Q2 2024 Knorr Bremse AG Earnings Call Transcript

Aug 08, 2024 / 11:00AM GMT
Release Date Price: €70.35 (+2.33%)

Key Points

Positve
  • Knorr-Bremse AG (KNRRY) reported strong demand in the rail sector across all regions, contributing to a positive margin trend.
  • The company is on track with its BOOST 2026 program, which aims to enhance growth and efficiency.
  • Knorr-Bremse AG (KNRRY) raised its guidance for 2024 due to strong performance in both divisions and a positive outlook for the rail division.
  • The company's order intake was robust, with a book-to-bill ratio of 1.06%, indicating strong demand.
  • Operating EBIT margin improved significantly, reaching 12.5%, supported by efficiency measures and better pricing.
Negative
  • The truck market is experiencing a decline, particularly in Europe, which could impact future performance.
  • Supply chain challenges persist, particularly with small specialist suppliers, potentially causing delays and increased costs.
  • The company anticipates a significant decline in truck production rates in Europe and North America in the second half of 2024.
  • Despite strong performance, the company faces FX headwinds and disposals that affected revenue growth.
  • The company is still dealing with legacy backlog issues in the rail division, which could impact future profitability.
Operator

Good afternoon, ladies and gentlemen, and welcome to the Knorr Bremse AG conference call regarding the Q2 2024 results. (Operator Instructions) Let me now turn the floor over to your host, Andreas Spitzauer, Head of Investor Relations. Please go ahead.

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 a very fine. My name is Andreas Spitzauer, Head of Investor Relations. I want to welcome you to Knorr Bremse conference call for the second 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 call will be recorded and is available on our homepage, www.knorr-bremse.com in the Investor Relations section. You can find today's presentation and later a transcript of the quarter.

It is now my pleasure to hand over to Marc Llistosella, Please go ahead.

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