Knorr-Bremse AG : A rail market in China durably under pressure
>Q2 2022 earnings down sharply, as expected after the preliminary results - Knorr-Bremse reported its Q2 2022 results on Friday morning (see our First Take). Order intake totalled € 1.9bn, i.e. 1.1x book-to-bill. The group generated sales of € 1,737m, down 5.5% organically, and an operating EBIT margin of 10.5%, down 360bp. The group confirmed its 2022 guidance (downward revision in July) and is aiming for 2022 sales of between € 6.9bn and € 7.2bn with an operat...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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