Knorr-Bremse AG : 2022 guidance is maintained and assumes a gradual improvement over the rest of the year
>Q1 2022, close to expectations, likely to be the low point of the year - Knorr-Bremse reported yesterday a sharp decline in Q1 2022 results, but in line with expectations (see our First Take of Thursday, 12 May for more details). Sales were down 5.3% organically (consensus at -5%) and the operating EBIT margin was 10.9% (consensus 11.1%), -400bp. The order intake was better than expected in Q1 (€ 2,109m, i.e. 1.26x book-to-bill).As specified by management at th...Knorr Bremse AG is a Germany-based company that manufactures braking systems and other subsystems for rail and commercial vehicles. It operates through two segments: Rail Vehicle Systems and Commercial Vehicle Systems. The Rail Vehicle Systems segment equips mass transit vehicles, such as metro cars, and mainline freight and passenger trains with brake systems, as well as entrance systems, heating, ventilation and air conditioning (HVAC) systems, auxiliary power supply, driver assistance systems, electrical traction equipment and control technology, among others. The Commercial Vehicle Systems segment offers products for trucks, buses, trailers and agricultural machinery. Its product portfolio includes brake systems and vehicle dynamics solutions, such as driver assistance, energy supply and distribution systems, such as air compressors, and fuel efficiency products and transmission subsystems, such as vibration dampers, among others. The Company also offers aftermarket services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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