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Knorr-Bremse: close to the all-time high

Incoming orders at Knorr-Bremse fell after three quarters by more than 15 percent to 4.355 billion euros. Sales fell by 13.6 percent to 4.589 billion euros. The EBITDA decreases by more than 18 percent to 804.2 million euros. There is a profit of 2.29 euros per share (previous year: 2.69 euros).

For the full year, Knorr-Bremse continues to expect sales of between EUR 5.9 billion and EUR 6.2 billion. In 2019 it was 6.937 billion euros. The operating EBITDA margin is seen at 16.5 percent to 17.5 percent, in 2019 the margin was 18.8 percent. After three quarters, Knorr-Bremse reports a margin of 17.5 percent.

The analysts of Nord LB confirm the hold recommendation for the shares of Knorr-Bremse. The price target is raised from EUR 95.00 to EUR 105.00.

They expect sales of 6.2 billion euros. Earnings per share are expected to be EUR 3.01. The forecast for 2021 is 6.8 billion euros or 3.98 euros.

Knorr-Bremse shares lose 0.8 percent to 107.90 euros. The share is thus close to the all-time high of EUR 111.32. Before the crisis, the paper was around 100 euros. In the depth of the crisis it was less than 71 euros.

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