Knorr-Bremse is catching up in terms of profit and sales

Knorr brake

The Knorr-Bremse AG logo can be seen on a sign at the headquarters of the Munich company.

(Photo: dpa)

Munich The truck and rail supplier Knorr-Bremse slowed the decline in sales and profits in the final spurt of the year. The brake manufacturer announced on Monday evening that revenues of around 6.2 billion euros last year were at the upper end of their own expectations. That would be a decrease of a good ten percent. The operating return on sales (Ebitda margin) was even slightly above the targeted 16.5 to 17.5 (2019: 18.8) percent. This means that earnings before interest, taxes, depreciation and amortization (Ebitda) should be around EUR 1.1 (1.3) billion. The Munich-based company plans to publish the exact figures for 2020 on March 4th.

The free cash flow was above the analysts’ expectations in the past year: The key figure, which was much noticed in the corona crisis, reached around 700 million euros, while the financial experts, according to a survey, only forecast around 500 million on average the enterprise. The reason for this is that Knorr-Bremse has increasingly managed its inventories, receivables and liabilities and thus reduced the working capital employed.

More: BMW CFO joins Knorr-Bremse’s supervisory board

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