Income Statement Knorr-Bremse AG

Equities

KBX

DE000KBX1006

Heavy Machinery & Vehicles

Market Closed - Xetra Other stock markets 16:35:17 19/09/2024 BST			After market 20:02:14
78.60 ^EUR	+1.68%		78.70	+0.13%

07:33pm	KNORR-BREMSE : DZ Bank remains its Buy rating	ZD
09-11	KNORR-BREMSE : JP Morgan remains its Buy rating	ZD

3.gOxK76MhRiCnYuHxx9q8huPvwAgTmbSJBZIUtnstEd8.55o5hsBUL1f4D6-Vl73Sw62ik0le-vLlTcVT9EN4Xo7rnHKG0nglbZ9RpA

Published financial data: KNORR-BREMSE AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.01B	6.23B	6.79B	7.25B	8.04B
Total Revenues	7.01B	6.23B	6.79B	7.25B	8.04B
Cost of Goods Sold, Total	3.53B	3.07B	3.43B	3.85B	4.15B
Gross Profit	3.48B	3.17B	3.36B	3.41B	3.89B
Selling General & Admin Expenses, Total	1.59B	1.54B	1.65B	1.82B	1.99B
Depreciation & Amortization - (IS)	248M	269M	282M	305M	332M
Other Operating Expenses	594M	517M	534M	555M	676M
Other Operating Expenses, Total	2.44B	2.33B	2.46B	2.68B	3B
Operating Income	1.05B	841M	896M	733M	886M
Interest Expense, Total	-72.68M	-66.8M	-56.49M	-50.82M	-101M
Interest And Investment Income	27.6M	19.35M	15.9M	49.13M	31.91M
Net Interest Expenses	-45.08M	-47.45M	-40.59M	-1.69M	-69.11M
Income (Loss) On Equity Invest.	-2.49M	-1.99M	-2.34M	-10.98M	-19.6M
Currency Exchange Gains (Loss)	-18.48M	-18.15M	15.38M	-19.94M	10.41M
Other Non Operating Income (Expenses)	-7.67M	-105K	7.16M	11.98M	-4.81M
EBT, Excl. Unusual Items	971M	773M	876M	712M	803M
Restructuring Charges	-29.21M	-	-11.1M	-	-
Merger & Related Restructuring Charges	-	-2.83M	-817K	-2.44M	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-2.89M	-
Gain (Loss) On Sale Of Assets	-37.9M	-2.83M	16.77M	-10.84M	-21.89M
Asset Writedown	-7.08M	-24.36M	-8.41M	-19.67M	-18.74M
Insurance Settlements	9.88M	7.23M	8.67M	12.31M	10.25M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	907M	751M	881M	689M	773M
Income Tax Expense	275M	218M	233M	183M	197M
Earnings From Continuing Operations	632M	532M	647M	506M	576M
Net Income to Company	632M	532M	647M	506M	576M
Minority Interest	-43.6M	-36.67M	-26.06M	-18.58M	-23.68M
Net Income - (IS)	588M	495M	621M	488M	553M
Net Income to Common Incl Extra Items	588M	495M	621M	488M	553M
Net Income to Common Excl. Extra Items	588M	495M	621M	488M	553M
Per Share Items
Net EPS - Basic	3.65	3.07	3.85	3.03	3.43
Basic EPS - Continuing Operations	3.65	3.07	3.85	3.03	3.43
Basic Weighted Average Shares Outstanding	161M	161M	161M	161M	161M
Net EPS - Diluted	3.65	3.07	3.85	3.03	3.43
Diluted EPS - Continuing Operations	3.65	3.07	3.85	3.03	3.43
Diluted Weighted Average Shares Outstanding	161M	161M	161M	161M	161M
Normalized Basic EPS	3.5	2.77	3.23	2.65	2.97
Normalized Diluted EPS	3.5	2.77	3.23	2.65	2.97
Dividend Per Share	1.8	1.52	1.85	1.45	1.64
Payout Ratio	47.94	58.56	39.44	61.15	42.3
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.29B	1.02B	1.08B	919M	1.08B
EBITA	1.09B	856M	910M	749M	905M
EBIT	1.05B	841M	896M	733M	886M
EBITDAR	1.31B	1.03B	1.09B	938M	1.1B
Total Revenues (As Reported)	7.02B	6.22B	6.83B	7.28B	8.03B
Effective Tax Rate - (Ratio)	30.33	29.1	26.5	26.5	25.44
Total Current Taxes	255M	183M	212M	205M	185M
Total Deferred Taxes	19.67M	35.84M	21.77M	-22.92M	11.18M
Normalized Net Income	564M	447M	521M	427M	478M
Interest on Long-Term Debt	7.47M	10.84M	13.31M	15.33M	18.18M
Non-Cash Pension Expense	5.43M	4.16M	3.39M	3.27M	7.2M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	324M	320M	348M	361M	437M
Net Rental Expense, Total	18.4M	15.11M	12.67M	19.3M	21.24M
Imputed Operating Lease Interest Expense	6.42M	3.97M	3.15M	4.41M	8.12M
Imputed Operating Lease Depreciation	11.99M	11.14M	9.52M	14.89M	13.13M
Maintenance & Repair Expenses, Total	107M	93.14M	90.78M	111M	130M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.88B	2.28B	1.38B	1.34B	1.29B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	1.88B	2.28B	1.38B	1.34B	1.29B
Accounts Receivable, Total	1.24B	1.23B	1.31B	1.41B	1.44B
Other Receivables	146M	104M	132M	177M	208M
Total Receivables	1.39B	1.33B	1.44B	1.59B	1.64B
Inventory	815M	845M	1B	1.14B	1.14B
Prepaid Expenses	31.16M	-	-	-	-
Other Current Assets, Total	111M	147M	118M	328M	441M
Total Current Assets	4.22B	4.6B	3.94B	4.4B	4.52B
Gross Property Plant And Equipment	2.66B	2.77B	3.17B	3.33B	3.36B
Accumulated Depreciation	-1.38B	-1.45B	-1.63B	-1.75B	-1.73B
Net Property Plant And Equipment	1.28B	1.32B	1.54B	1.58B	1.63B
Long-term Investments	16.57M	24.66M	22.07M	79.57M	60.81M
Goodwill	381M	396M	418M	574M	696M
Other Intangibles, Total	375M	454M	540M	761M	770M
Deferred Tax Assets Long-Term	127M	116M	118M	140M	73.24M
Deferred Charges Long-Term	37.18M	41.92M	62.24M	75.52M	79.94M
Other Long-Term Assets, Total	409M	439M	558M	398M	422M
Total Assets	6.85B	7.39B	7.2B	8.01B	8.25B
Liabilities
Accounts Payable, Total	967M	1.03B	1.17B	1.21B	1.2B
Accrued Expenses, Total	120M	84.84M	7.89M	86.97M	107M
Current Portion of Long-Term Debt	171M	1.08B	98.8M	204M	97.42M
Current Portion of Leases	57.14M	51.57M	59.94M	63.06M	63.42M
Current Income Taxes Payable	34.64M	46.85M	62.72M	138M	97.24M
Unearned Revenue Current, Total	295M	315M	266M	229M	247M
Other Current Liabilities	867M	884M	1.04B	730M	767M
Total Current Liabilities	2.51B	3.49B	2.7B	2.67B	2.58B
Long-Term Debt	1.27B	773M	780M	1.46B	1.43B
Long-Term Leases	320M	336M	450M	447M	465M
Unearned Revenue Non Current	4.32M	3.13M	2.1M	1.04M	760K
Pension & Other Post Retirement Benefits	363M	372M	334M	241M	261M
Deferred Tax Liability Non Current	80.79M	114M	135M	189M	133M
Other Non Current Liabilities	389M	377M	376M	320M	471M
Total Liabilities	4.95B	5.47B	4.77B	5.32B	5.35B
Common Stock, Total	161M	161M	161M	161M	161M
Retained Earnings	1.79B	1.97B	2.35B	2.51B	2.83B
Comprehensive Income and Other	-165M	-304M	-182M	-110M	-155M
Total Common Equity	1.78B	1.83B	2.33B	2.56B	2.84B
Minority Interest	117M	91.01M	97.18M	130M	67.62M
Total Equity	1.9B	1.92B	2.43B	2.69B	2.9B
Total Liabilities And Equity	6.85B	7.39B	7.2B	8.01B	8.25B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	161M	161M	161M	161M	161M
ECS Total Common Shares Outstanding	161M	161M	161M	161M	161M
Book Value / Share	11.07	11.36	14.44	15.89	17.59
Tangible Book Value	1.03B	981M	1.37B	1.23B	1.37B
Tangible Book Value Per Share	6.38	6.08	8.5	7.61	8.5
Total Debt	1.82B	2.24B	1.39B	2.17B	2.06B
Net Debt	-57.72M	-34.73M	8.51M	828M	768M
Debt Equivalent of Unfunded Proj. Benefit Obligation	312M	334M	282M	200M	217M
Debt Equivalent Oper. Leases	147M	121M	101M	154M	170M
Minority Interest, Total (Incl. Fin. Div)	117M	91.01M	97.18M	130M	67.62M
Equity Method Investments, Total	16.57M	24.66M	22.07M	79.57M	60.81M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	445M	508M	621M	752M	768M
Inventories - Work In Process, Total	112M	103M	123M	145M	143M
Inventories - Finished Goods, Total	313M	321M	377M	419M	401M
Inventories - Others	12.92M	5.08M	5.06M	9.47M	8.67M
Land - (BS)	875M	933M	1.13B	1.17B	1.21B
Machinery, Total	1.78B	1.84B	2.05B	2.16B	2.15B
Full Time Employees	28.9K	27.04K	27.58K	28.71K	29.49K
Order Backlog	4.69B	4.99B	5.57B	6.91B	7.08B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	588M	495M	621M	488M	553M
Depreciation & Amortization - CF	201M	218M	226M	235M	242M
Amortization of Goodwill and Intangible Assets - (CF)	47.07M	15.26M	14.37M	16.22M	18.98M
Depreciation & Amortization, Total	248M	233M	240M	251M	261M
Amortization of Deferred Charges, Total - (CF)	-	35.66M	42.14M	53.49M	71.03M
(Gain) Loss From Sale Of Asset	37.85M	5.98M	-18.81M	8.54M	22.52M
(Gain) Loss on Sale of Investments - (CF)	2.24M	-1.97M	2.34M	13.8M	19.6M
Asset Writedown & Restructuring Costs	17.29M	24.36M	8.41M	19.67M	18.74M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	6.87M	7.46M	19.96M	10M	12.98M
Other Operating Activities, Total	358M	315M	203M	198M	70.76M
Change In Inventories	-57.86M	-25.57M	-115M	-494M	-119M
Change In Accounts Payable	-38.96M	98.12M	84.82M	140M	129M
Change in Other Net Operating Assets	-176M	-152M	-113M	-147M	-126M
Cash from Operations	986M	1.04B	975M	542M	915M
Capital Expenditure	-220M	-241M	-262M	-227M	-254M
Sale of Property, Plant, and Equipment	192M	12.92M	19.14M	29.91M	12.3M
Cash Acquisitions	-194M	-123M	-87.84M	-203M	-20.09M
Divestitures	-29.07M	-8.95M	5.65M	-4.48M	-6.85M
Sale (Purchase) of Intangible assets	-96.8M	-120M	-133M	-125M	-121M
Investment in Marketable and Equity Securities, Total	-17.09M	-103M	-81.4M	-12.29M	-38.81M
Other Investing Activities, Total	11.92M	7.06M	4.71M	37.42M	17.96M
Cash from Investing	-354M	-576M	-534M	-505M	-411M
Long-Term Debt Issued, Total	40.85M	800M	47.33M	740M	16.27M
Total Debt Issued	40.85M	800M	47.33M	740M	16.27M
Long-Term Debt Repaid, Total	-146M	-462M	-1.1B	-110M	-122M
Total Debt Repaid	-146M	-462M	-1.1B	-110M	-122M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-282M	-290M	-245M	-298M	-234M
Common & Preferred Stock Dividends Paid	-282M	-290M	-245M	-298M	-234M
Other Financing Activities, Total	-118M	-58.49M	-124M	-492M	-57.86M
Cash from Financing	-505M	-10.37M	-1.42B	-161M	-398M
Foreign Exchange Rate Adjustments	8.56M	-61.97M	69.55M	8.5M	-34.59M
Miscellaneous Cash Flow Adjustments	-595K	-	2K	-	1.04M
Net Change in Cash	135M	387M	-914M	-116M	72.72M
Supplemental Items
Cash Interest Paid	33.23M	32.67M	36.62M	31.94M	59.19M
Cash Income Tax Paid (Refund)	224M	144M	182M	204M	259M
Levered Free Cash Flow	597M	487M	355M	-264M	284M
Unlevered Free Cash Flow	642M	529M	390M	-232M	347M
Change In Net Working Capital	-57.57M	-96M	57.22M	642M	164M
Net Debt Issued / Repaid	-105M	338M	-1.06B	630M	-106M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	9.97	7.38	7.68	6.02	6.76
Return on Total Capital	19.09	13.33	14.04	10.56	11.35
Return On Equity %	36.03	27.84	29.78	19.79	20.83
Return on Common Equity	35.81	27.41	29.88	19.95	20.47
Margin Analysis
Gross Profit Margin %	49.65	50.82	49.5	46.99	48.34
SG&A Margin	22.73	24.72	24.28	25.04	24.77
EBITDA Margin %	18.45	16.34	15.87	12.67	13.43
EBITA Margin %	15.58	13.74	13.41	10.33	11.26
EBIT Margin %	14.91	13.49	13.2	10.1	11.03
Income From Continuing Operations Margin %	9.02	8.54	9.54	6.98	7.17
Net Income Margin %	8.39	7.95	9.15	6.72	6.87
Net Avail. For Common Margin %	8.39	7.95	9.15	6.72	6.87
Normalized Net Income Margin	8.04	7.17	7.68	5.88	5.95
Levered Free Cash Flow Margin	8.51	7.81	5.23	-3.63	3.54
Unlevered Free Cash Flow Margin	9.16	8.48	5.75	-3.2	4.32
Asset Turnover
Asset Turnover	1.07	0.88	0.93	0.95	0.98
Fixed Assets Turnover