Knorr-Bremse AG : Cautious on 2023 but confident for the medium term
>Q4 2022 in line, nice surprise on organic sales growth (8.7%) - Knorr-Bremse reported its Q4 2022 yesterday morning. Order intake was better than expected (at € 2.2bn, or a book-to-bill of 1.13x), with both divisions beating expectations. Sales came in 8.7% higher in organic terms, beating consensus expectations by 5%, thanks to growth in both businesses. In contrast, the operating EBIT margin fell short of expectations at 11.6% (css 12%) but showed a sequential impr...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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