Report
Delphine Brault

Knorr-Bremse AG : A roadshow which showcased the group’s solidity

>Confirmation of the outlook and guidance - In a roadshow with ODDO BHF, Andreas Spitzauer, head of IR, confirmed the outlook recently given for 2020; the financial guidance remains valid (revenues of € 5,900-6,200m, operating EBITDA margin of 16.5-17.5%). We see no really new trend in the RVS rail business (see below) while the volatile trucks (CVS) business seems to be doing better. Knorr-Bremse (KBX) continues to keep a tight rein on costs and is targeting at the...
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

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