Knorr Bremse's CV division declined by 13.9% in 2024
By Luke Willetts - 17th March 2025
Knorr Bremse HQ in Munich
Germany – Commercial vehicle brake and components manufacturer, Knorr-Bremse AG, based in Munich, Germany, has announced a stable set of 2024 financial results with EUR 7.8 billion in revenue compared to 2023 figures of EUR 7.92 billion, a decrease of 4 percent. 2023 sales came in at EUR 8.18 billion, compared to EUR 8.25 billion in 2023 (a difference of -1.6%). With EUR 729 million in free cash flow, the company is in good financial health heading into the year ahead.
Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division’s revenues were down 13.9% due to unstable geopolitical and market conditions. 2024 revenues came in at EUR 3.84 billion (2023: EUR 4.18 billion). Order intake was down 14.6% at EUR 3.74 billion (2023: EUR 4.21 billion).
