After a strong third quarter, Knorr Brems became more cautious for the year as a whole.
The brake manufacturer has set its full-year margin forecast to the lower end of the previous range, according to the announcement.
The operating margin before interest and tax is now expected to be between 13.0 and 13.5 per cent after 13.2 per cent in the previous year. So far, the MDAX-listed company has promised 13.0 to 14.5 percent. Knorr-Bremse now expects sales of between €6.6 billion and €6.8 billion after €6.16 billion the previous year. Here the bandwidth was previously between 6.5 billion and 6.9 billion euros.
In the third quarter, the Munich-based company managed to increase sales and profits, as expected by analysts. In contrast, incoming orders decreased significantly by 12%.
For Friday’s Knorr-Bremse shares in XETRA, it was last down 4.02% to €91.60.
DJG / no / sha
Frankfurt (Dow Jones)
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