Knorr-Bremse RVS sales rose from €3.26bn in 2017 to €3.46bn last year, while Ebitda jumped from €639m in 2017 to €693m in 2018. This compares with just a 2.6% increase in Ebitda to €517m for the company’s Commercial Vehicle Systems division despite a 9.3% revenue increase to €3.16bn.

“Despite uncertain and volatile markets, the demand for Knorr-Bremse rail and truck systems rose to new heights,” says Knorr-Bremse’s CEO Mr Klaus Deller. “We are particularly proud to have won 26 projects for metro lines in China alone. With organic growth as well as strategic acquisitions in both divisions, we have paved the way for our active participation in the global megatrends urbanisation, eco-efficiency, digitisation and automated driving.”

Knorr-Bremse says growth in Europe in its RVS division was driven by its locomotives, regional and commuter, and metro businesses, while in Asia, its Indian original equipment business and Chinese Rail Services subsidiary grew particularly strongly. “In North America, the freight business showed a positive development,” says Knorr-Bremse. “Aftermarket revenues grew by 5.8% and their share of RVS revenues amounted to 40%.”

2019 outlook

Regarding Knorr-Bremse’s outlook for this year, the company says: “macroeconomic and political risks are rising, trade conflicts and Brexit being only two examples. That said, assuming economic and political stability, the company expects to generate €6.8bn-€7bn in revenues for the full year 2019, and an Ebitda margin within a range of 18-19%.”