BERLIN (dpa-AFX) - Knorr-Bremse AG (KNRRY.PK, KNBHF.PK), a German maker of rail and vehicle braking systems, on Tuesday announced its plans to improve its revenue and profitability. In addition, the company has confirmed its full year 2023 guidance.
According to the action plans initiated, by 2026, the company expects its annual revenue to rise to 8 billion euros to 9 billion euros, with an operating EBIT margin of over 14 percent.
Marc Llistosella, CEO of Knorr-Bremse, said: '.Wherever the analysis indicates that we are not the best owner of a particular line of business, we will consistently initiate a separation process or implement a firm turnaround plan in the relevant parts of the company. This will affect revenue of up to 1.4 billion euros in total.'
For full year 2023, assuming stable macroeconomic conditions, Knorr-Bremse still expects its revenue to be in the range of 7.300 billion euros - 7.700 billion euros, with an operating EBIT margin of 10.5 percent to 12 percent.
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