Duyuru • Aug 01
Knorr-Bremse AG Raises Earnings Guidance for 2026 Knorr-Bremse AG raised earnings guidance for 2026. Based on a strong first half of 2026 and a positive outlook for the remainder of the year, Knorr-Bremse is raising its operating guidance for fiscal 2026. The assumption remains that the crisis in the Middle East will not escalate or persist, particularly with regard to supply chain disruptions. In addition to the effects of the acquisition of duagon, the guidance is based on the company’s current portfolio. The company now expects revenues of between €8,100 million and €8,300 million (previously: €8,000 million to €8,300 million), an operating EBIT margin of 14.0% to 14.5% (previously: around 14%). Reported Earnings • Jul 31
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: €1.08 (up from €0.84 in 2Q 2025). Revenue: €2.16b (up 7.0% from 2Q 2025). Net income: €173.0m (up 24% from 2Q 2025). Profit margin: 8.0% (up from 6.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to €101. The fair value is estimated to be €128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. Buy Or Sell Opportunity • Jun 26
Now 21% undervalued Over the last 90 days, the stock has risen 4.3% to €100. The fair value is estimated to be €127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 60% in the next 2 years. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to €99.70. The fair value is estimated to be €125, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.7%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. Duyuru • May 06
Knorr-Bremse AG (XTRA:KBX) completed the acquisition of TRAVIS Road Services International B.V. Knorr-Bremse AG (XTRA:KBX) agreed to acquire TRAVIS Road Services International B.V. on October 20, 2025. The purchase price amounts to a mid-double-digit million-euro sum.
The closing is expected to take place by the end of Q1 2026.
Knorr-Bremse AG (XTRA:KBX) completed the acquisition of TRAVIS Road Services International B.V. on May 4, 2026. Duyuru • Feb 21
Knorr-Bremse Ag Provides Earnings Guidance for the Year 2026 Knorr-Bremse AG provided earnings guidance for the year 2026. For the period, the company Assuming that the geopolitical and macroeconomic environments remain stable, the company expects revenues between €8,000 million and €8,300 million, an operating EBIT margin of around 14%. Price Target Changed • Dec 30
Price target increased by 7.3% to €96.18 Up from €89.67, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of €94.30. Stock is up 35% over the past year. The company posted earnings per share of €2.76 last year. Duyuru • Oct 31
Knorr-Bremse AG Confirms Earnings Guidance for 2025 Knorr-Bremse AG confirmed earnings Guidance for 2025. For the year, the company expects revenues of between €7,800 million and €8,100 million, an operating EBIT margin of 12.5% to 13.5%. Duyuru • Oct 22
Knorr-Bremse AG (XTRA:KBX) agreed to acquire TRAVIS Road Services International B.V. Knorr-Bremse AG (XTRA:KBX) agreed to acquire TRAVIS Road Services International B.V. on October 20, 2025. The purchase price amounts to a mid-double-digit million-euro sum.
The closing is expected to take place by the end of Q1 2026. Duyuru • Sep 26
Knorr-Bremse AG (XTRA:KBX) entered into agreement to acquire Duagon AG from DBAG Fund VII managed by Deutsche Beteiligungs AG (XTRA:DBAN) and others for €500 million. Knorr-Bremse AG (XTRA:KBX) entered into agreement to acquire Duagon AG from DBAG Fund VII managed by Deutsche Beteiligungs AG (XTRA:DBAN) and others for €500 million on September 25, 2025. A cash consideration of €500 million will be paid by Knorr-Bremse AG. As part of consideration, €500 million is paid towards common equity of Duagon AG. The purchase price can increase moderately due to a potential performance bonus based on the achievement of predefined target. The consideration will initially be financed from available liquidity and existing credit lines. Knorr-Bremse expects EBIT-effective run-rate synergies of between €5 million and €10 million as of 2028 from the deal. The closing is subject to the customary regulatory approvals. Christoph Neeracher, Philippe Seiler, Therry Lehmann, Yascha Fengler, Thomas Rohde, Rahel Brüschweiler, David Mark, Susanne Schreiber, Martin Leu, Markus Wang, Christine Schweikard, Mani Reinert, Martin Werner and Christian Kunz of Bär & Karrer Ltd. acted as legal advisor to Deutsche Beteiligungs AG. Duyuru • Mar 23
Knorr-Bremse AG announces Annual dividend, payable on May 06, 2025 Knorr-Bremse AG announced Annual dividend of EUR 1.7500 per share payable on May 06, 2025, ex-date on May 01, 2025 and record date on May 05, 2025. Duyuru • Mar 22
Dr. Theodor Weimer Steps Down as Member and Deputy Chairman of the Supervisory Board of Knorr-Bremse AG Knorr-Bremse AG announced Dr. Theodor Weimer, who will step down as member and Deputy Chairman of the Supervisory Board at the Annual General Meeting. Duyuru • Mar 05
Knorr-Bremse AG to Report Q2, 2025 Results on Jul 31, 2025 Knorr-Bremse AG announced that they will report Q2, 2025 results on Jul 31, 2025 Duyuru • Feb 22
Knorr-Bremse AG Provides Earnings Guidance for the Year 2025 Knorr-Bremse AG provided earnings guidance for the year 2025. For the year, the company expects revenue range of EUR 8.1 billion to EUR 8.4 billion despite more than EUR 200 million of this investment last year. Operating EBIT margin between 12.5% and 13.5%. Duyuru • Jan 23
RCapital Partners LLP acquired G T Emissions Systems Limited from Knorr-Bremse AG (XTRA:KBX). RCapital Partners LLP agreed to acquire G T Emissions Systems Limited from Knorr-Bremse AG (XTRA:KBX) on August 5, 2024. With this sale, Knorr-Bremse is actively advancing its portfolio optimization with a clear focus on strategic fit and performance. The global Engine Air portfolio of GT Emissions Systems comprises exhaust throttle and exhaust gas recirculation valves, among other things. The company supplies leading manufacturers with emission control systems for diesel engines in on- and off-highway vehicles. GT Emissions Systems’ solutions make a key contribution for diesel engine manufacturers to meet the international emission standards that apply to them. GT Emissions Systems’ sales in the 2023 fiscal year came to approximately €70 million. The transaction is expected to close in the fourth quarter.
RCapital Partners LLP completed the acquisition of G T Emissions Systems Limited from Knorr-Bremse AG (XTRA:KBX) on January 22, 2025. Reported Earnings • Nov 01
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: €0.81 (up from €0.79 in 3Q 2023). Revenue: €1.94b (down 1.4% from 3Q 2023). Net income: €129.9m (up 2.4% from 3Q 2023). Profit margin: 6.7% (up from 6.5% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.4%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Sep 02
Knorr-Bremse AG (XTRA:KBX) completed the acquisition of North American conventional signalling business from Alstom SA (ENXTPA:ALO) for approximately €625 million. Knorr-Bremse AG (XTRA:KBX) entered into a binding agreement to acquire North American conventional signalling business from Alstom SA (ENXTPA:ALO) for approximately €630 million on April 19, 2024. Alstom will continue to serve the North American signalling market on different segments, notably with Communications Based Train Control (CBTC) and European Train Control System (ETCS) solutions. Closing of the transaction is only subject to customary conditions, including regulatory approval, and is expected to take place as soon as Summer 2024. Crédit Agricole Corporate and Investment Bank Société Anonyme act as financial advisor, White & Case LLP (Paris) act as legal advisor, Accuracy SAS act as financial du diligence provider, Cleary Gottlieb Steen & Hamilton LLP as antitrust advisor for Alstom SA (ENXTPA:ALO). J.P. Morgan & Cie S.A.S. acted as the financial advisor to Alstom SA.
Knorr-Bremse AG (XTRA:KBX) completed the acquisition of North American conventional signalling business from Alstom SA (ENXTPA:ALO) for approximately €625 million on September 2, 2024. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: €0.90 (up from €0.75 in 2Q 2023). Revenue: €2.04b (flat on 2Q 2023). Net income: €144.3m (up 19% from 2Q 2023). Profit margin: 7.1% (up from 6.0% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Duyuru • Aug 06
RCapital Partners LLP agreed to acquire G T Emissions Systems Limited from Knorr-Bremse AG (XTRA:KBX). RCapital Partners LLP agreed to acquire G T Emissions Systems Limited from Knorr-Bremse AG (XTRA:KBX) on August 5, 2024. With this sale, Knorr-Bremse is actively advancing its portfolio optimization with a clear focus on strategic fit and performance. The global Engine Air portfolio of GT Emissions Systems comprises exhaust throttle and exhaust gas recirculation valves, among other things. The company supplies leading manufacturers with emission control systems for diesel engines in on- and off-highway vehicles. GT Emissions Systems’ solutions make a key contribution for diesel engine manufacturers to meet the international emission standards that apply to them. GT Emissions Systems’ sales in the 2023 fiscal year came to approximately €70 million. The transaction is expected to close in the fourth quarter. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.95 (vs €0.77 in 1Q 2023) First quarter 2024 results: EPS: €0.95 (up from €0.77 in 1Q 2023). Revenue: €2.01b (up 3.7% from 1Q 2023). Net income: €153.7m (up 23% from 1Q 2023). Profit margin: 7.7% (up from 6.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 25
Upcoming dividend of €1.64 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 06 May 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.2%). Buy Or Sell Opportunity • Mar 29
Now 20% undervalued Over the last 90 days, the stock has risen 19% to €70.26. The fair value is estimated to be €88.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has declined by 3.8%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 9.6% per annum over the same time period. Declared Dividend • Mar 24
Dividend of €1.64 announced Shareholders will receive a dividend of €1.64. Ex-date: 2nd May 2024 Payment date: 6th May 2024 Dividend yield will be 2.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: €3.43 (vs €3.03 in FY 2022) Full year 2023 results: EPS: €3.43 (up from €3.03 in FY 2022). Revenue: €8.04b (up 11% from FY 2022). Net income: €552.5m (up 13% from FY 2022). Profit margin: 6.9% (up from 6.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Mar 07
Now 20% undervalued Over the last 90 days, the stock has risen 15% to €66.10. The fair value is estimated to be €83.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has declined by 4.0%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Oct 31
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: €0.79 (down from €0.90 in 3Q 2022). Revenue: €1.96b (up 7.9% from 3Q 2022). Net income: €126.8m (down 13% from 3Q 2022). Profit margin: 6.5% (down from 8.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 11
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: €0.74 (up from €0.65 in 2Q 2022). Revenue: €2.04b (up 16% from 2Q 2022). Net income: €119.1m (up 13% from 2Q 2022). Profit margin: 5.9% (down from 6.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 7.9%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 12
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: €0.77 (in line with 1Q 2022). Revenue: €1.93b (up 14% from 1Q 2022). Net income: €124.7m (up 1.0% from 1Q 2022). Profit margin: 6.4% (down from 7.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • May 01
Upcoming dividend of €1.45 per share at 2.3% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (2.8%). Reported Earnings • Mar 25
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €3.03 (down from €3.85 in FY 2021). Revenue: €7.25b (up 6.9% from FY 2021). Net income: €487.7m (down 22% from FY 2021). Profit margin: 6.7% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Feb 03
Knorr-Bremse AG to Report Fiscal Year 2022 Final Results on Mar 23, 2023 Knorr-Bremse AG announced that they will report fiscal year 2022 final results at 9:00 AM, Central European Standard Time on Mar 23, 2023 Buying Opportunity • Jan 28
Now 20% undervalued Over the last 90 days, the stock is up 33%. The fair value is estimated to be €75.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Jan 11
Now 22% undervalued Over the last 90 days, the stock is up 33%. The fair value is estimated to be €74.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 18% share price gain to €60.02, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Machinery industry in Germany. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €74.27 per share. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: €0.90 (down from €0.91 in 3Q 2021). Revenue: €1.82b (up 13% from 3Q 2021). Net income: €145.0m (flat on 3Q 2021). Profit margin: 8.0% (down from 9.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Third quarter 2022 earnings released Third quarter 2022 results: Net income: (down €145.9m from profit in 3Q 2021). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 17
Price target decreased to €68.57 Down from €75.79, the current price target is an average from 14 analysts. New target price is 28% above last closing price of €53.70. Stock is down 46% over the past year. The company is forecast to post earnings per share of €3.12 for next year compared to €3.85 last year. Reported Earnings • Aug 13
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: €0.65 (down from €1.02 in 2Q 2021). Revenue: €1.76b (flat on 2Q 2021). Net income: €105.9m (down 36% from 2Q 2021). Profit margin: 6.0% (down from 9.4% in 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 5.4%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • May 18
Upcoming dividend of €1.85 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 30 May 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.3%). In line with average of industry peers (2.5%). Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: €0.77 (down from €1.05 in 1Q 2021). Revenue: €1.69b (down 1.0% from 1Q 2021). Net income: €126.1m (down 25% from 1Q 2021). Profit margin: 7.4% (down from 9.9% in 1Q 2021). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.3%. Over the next year, revenue is forecast to grow 5.6%, compared to a 9.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 04
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: €3.85 (up from €3.07 in FY 2020). Revenue: €6.79b (up 8.9% from FY 2020). Net income: €621.3m (up 25% from FY 2020). Profit margin: 9.2% (up from 7.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 3.7%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €68.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Machinery industry in Germany. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €93.70 per share. Buying Opportunity • Mar 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €95.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Feb 25
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: €3.87 (up from €3.07 in FY 2020). Revenue: €6.79b (up 8.9% from FY 2020). Net income: €624.3m (up 26% from FY 2020). Profit margin: 9.2% (up from 7.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 5.0%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS €0.91 (vs €0.82 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €1.61b (up 3.7% from 3Q 2020). Net income: €145.9m (up 10% from 3Q 2020). Profit margin: 9.1% (up from 8.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS €1.02 (vs €0.64 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €1.75b (up 21% from 2Q 2020). Net income: €164.1m (up 60% from 2Q 2020). Profit margin: 9.4% (up from 7.1% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €94.24, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 21x in the Machinery industry in Germany. Total returns to shareholders of 6.8% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €84.65 per share. Reported Earnings • May 16
First quarter 2021 earnings released: EPS €1.05 (vs €0.83 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €1.71b (up 3.9% from 1Q 2020). Net income: €169.1m (up 26% from 1Q 2020). Profit margin: 9.9% (up from 8.2% in 1Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • May 14
Upcoming dividend of €1.52 per share Eligible shareholders must have bought the stock before 21 May 2021. Payment date: 26 May 2021. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.0%). Reported Earnings • Apr 02
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €6.23b (down 11% from FY 2019). Net income: €495.5m (down 16% from FY 2019). Profit margin: 7.9% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Executive Departure • Feb 24
Honorary Chairman of the Supervisory Board Heinz Hermann Thiele has left the company On the 23rd of February, Heinz Hermann Thiele's tenure in the role of Honorary Chairman of the Supervisory Board ended. We don't have any record of a personal shareholding under Heinz's name. A total of 6 executives have left over the last 12 months. Is New 90 Day High Low • Jan 26
New 90-day high: €117 The company is up 18% from its price of €98.94 on 28 October 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €87.94 per share. Is New 90 Day High Low • Jan 08
New 90-day high: €117 The company is up 12% from its price of €104 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €87.83 per share. Is New 90 Day High Low • Dec 23
New 90-day high: €110 The company is up 11% from its price of €98.71 on 24 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €85.48 per share. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Over the next year, revenue is forecast to grow 4.9%, compared to a 3.0% growth forecast for the Machinery industry in Germany. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS €0.82 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €1.55b (down 10% from 3Q 2019). Net income: €132.1m (up 46% from 3Q 2019). Profit margin: 8.5% (up from 5.2% in 3Q 2019). The increase in margin was driven by lower expenses. 
