Knorr Bremse reports positive mid-year results
By Luke Willetts - 20th September 2023
Germany – Commercial vehicle brake and components manufacturer, Knorr-Bremse AG, based in Munich, Germany, has announced a positive set of mid-year financial results for the first half year of 2023. According to the company’s latest figures, group revenues increased 15% in the first half year 2023 to EUR 3,917 million (m) (1H/2022: EUR 3,406m) with EBITDA rising 17.8% to EUR 576m (EUR 489m).
Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in a 16.4% increase in CVS’ half year revenues of EUR 2,105m (H1/22: EUR 1,809 m). Operating EBITA in the CVS segment amounted to EUR 264m, an increase of 19.4% from EUR 221m in the previous first half year.
