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Knorr-Bremse Now Expects FY20 Sales To Be At Upper End Of Its Forecast

Knorr-Bremse AG (KNRRY.PK,KNBHF.PK), a German manufacturer of braking systems for rail and commercial vehicles, said it now expects sales for fiscal year 2020 to be at the upper end of the forecasted corridor of 5.9 billion euros - 6.2 billion euros and an EBITDA margin slightly above the forecast of 16.5% -17.5%.

The preliminary and unaudited free cash flow for fiscal year 2020 is about 0.7 billion euros, exceeding current market expectations of around 0.5 billion euros according to the consensus of VARA Research.

The company expects that the reduced working capital at the end of the year 2020 will increase again in 2021.

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