2023, another positive year for Knorr Bremse
By Luke Willetts - 1st April 2024
Marc Llistosella, Chief Executive Officer of Knorr-Bremse
Germany – Commercial vehicle brake and components manufacturer, Knorr-Bremse AG, based in Munich, Germany, has announced a positive set of 2023 financial results with a record EUR 7,925.6 million (2022: EUR 7,149.7 million) in revenue, up 10.9 percent compared to the previous year. 2023 sales came in at EUR 8,252.2 million compared to EUR 8,114.1 million in 2022 (a difference of 1.7%). With EUR 553 million in free cash flow, the company is in good financial health heading into the years ahead.
Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).
