Knorr-Bremse publishes preliminary financial figures with a strong order intake and free cashflow for Q1/25

Publication of Inside Information Pursuant to Article 17 of Regulation (EU) No. 596/2014

Knorr-Bremse AG

Moosacher Str. 80

80809 Munich, Germany

ISIN: DE000KBX1006

Knorr-Bremse publishes preliminary financial figures with a strong order intake and free cashflow for Q1/25

Munich, April 29, 2025

Knorr-Bremse expects the following preliminary key financial figures for the Group for the reporting period January to March 2025 (Q1/25):

- Order intake of around € 2.376 billion significantly above expectations (consensus: € 2.066 billion)

- Revenues of around € 1.958 billion (consensus: € 1.973 billion)

- Operating EBIT of around € 236 million (consensus: € 243 million)

- Operating EBIT margin of around 12.1% (consensus: 12.3%)

- Net income of around € 143 million (consensus: € 152 million) and consequently earnings per share of around € 0.84 (consensus: € 0.94)

- Preliminary free cashflow amounts to around € 15 million (Q1/24: minus € 95 million)

The preliminary key financial figures for Q1/25 partly exceed or fall short of analysts' expectations as summarized in the current consensus by Vara Research for Q1/25. Overall, they confirm a positive business performance in the past quarter.

The Rail division's order intake benefited from strong growth, particularly in Asia and North America. Europe was particularly strong for the Truck division.

Net income was slightly below the consensus estimate. In particular this is due to the provisions for restructuring measures being part of the BOOST program that were recognized in the past quarter as announced. Of the restructuring costs of up to € 50 million planned and communicated for the full year 2025, around € 23 million were incurred in Q1/25.

Free cashflow improved significantly year-over-year in operational terms and also benefited from a tax refund of around € 45 million.

The full quarterly results will be published on May 8, 2025.

This publication contains forward-looking statements about the business, financial development, and earnings of the Knorr-Bremse Group.

These statements are underpinned by assumptions and forecasts that are based on currently available information and current assessments. They are subject to a large number of uncertainties and risks. Consequently, actual business development may vary significantly from the expected development.

Knorr-Bremse does not assume any obligation to update forward-looking statements beyond the requirements imposed by law.