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Knorr-Bremse Posts Lower Q1 Results; Order Intake Up 17.3%; Confirms FY22 Guidance

Knorr-Bremse Aktiengesellschaft (KNRRY.PK,KNBHF.PK), on Thursday, reported that first-quarter revenue remained nearly stable at EUR 1.67 billion compared to EUR 1.69 billion generated a year ago, despite volatile market development around the globe.

Earnings per share for the quarter totaled EUR 0.77 per share compared to EUR 1.05 per share earned a year ago.

EBIT margin for the quarter was at 10.9% versus the prior year's 14.9%, despite cost increases and coronavirus developments in China.

Order intake at Knorr-Bremse amounted to EUR 2,109.3 million, 17.3% higher than the previous year's EUR 1,798.9 million.

Frank Weber, CFO and interim spokesman for the Executive Board of Knorr-Bremse AG, said, "In the first quarter of 2022, Knorr-Bremse achieved solid results in spite of a currently extraordinarily difficult situation on the global markets. The overall good start to the current year with a high order
intake reflects the high level of customer demand as well as the continuing trend toward green mobility..."

Looking ahead, the company continues to project fiscal 2022 revenues between EUR 6,800 million and EUR 7,200 million, operating EBIT margin between 12.5% and 14.0% and free cash flow between EUR 500 million and EUR 600 million.

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