Report
Delphine Brault ...
  • Quentin Borie

Knorr-Bremse AG : Q3 preview: truck segment holding up, rail continuing to improve

>Q3 2024 preview: 1.2% organic growth, EBIT margin +30bp - We forecast a solid set of Q3 figures, despite an unfavourable environment in trucks. At the consolidated level, the book-to-bill should be around 1x, with CVS orders (trucks) down 10% in organic terms, or a book-to-bill of 0.9x, reflecting forecast truck production rates (TPR) off by around -15% in Europe in 2024 and -10% in the US. Orders for RVS (rail) should be up by 6% in organic terms (book-to-bill ...
Underlying
Knorr-Bremse AG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Delphine Brault

Quentin Borie

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