Knorr-Bremse announces new mid-term outlook for 2030 and raises operational outlook for 2026

Munich, July 29, 2026

As part of its new strategy “Growth Beyond”, Knorr-Bremse AG is releasing a new mid-term outlook for 2030.

For the financial year 2030, the company expects the following key financials for Knorr-Bremse Group:

• Revenues of approximately € 10 billion
• Operating EBIT margin of approximately 16%
• Cash Conversion Rate of more than 90%
• Return on Capital Employed (ROCE) of more than 25%

The new mid-term guidance is based on the successful execution of the BOOST strategy as well as the strong results achieved in the second quarter of 2026.

In July 2023, Knorr-Bremse introduced the BOOST strategy program and outlined mid-term targets for 2026. The program’s primary objective was to improve the operating EBIT margin, targeting a level of more than 14%. In the second quarter of 2026, Knorr-Bremse achieved this target with an operating EBIT margin of 14.2% and expects to achieve its 2026 targets for the other key financials as well, namely revenue (€ 8-9 billion) and cash conversion rate (80–90%) for the full year 2026.

Building on these achievements, the Executive Board, with today’s approval of the Supervisory Board, has launched the “Growth Beyond” strategy. It is focused on accelerating Knorr-Bremse’s margin-accretive growth while preserving the efficiency gains achieved through BOOST.

For the reporting period from April to June 2026 (Q2/26), Knorr-Bremse AG expects the following preliminary financial figures, which are broadly in line with current analyst expectations according to the Vara Research consensus:

• Order intake of approximately € 2.20 billion (Consensus: € 2.23 billion)
• Revenues of approximately € 2.14 billion (Consensus: € 2.09 billion)
• Operating EBIT margin of 14.2% (Consensus: 14.1%)
• Free cash flow of € 262 million (Q2/25: € 145.6 million)
• Net income of approximately € 174.3 million (Consensus: € 176.6 million) and earnings per share of € 1.08 (Consensus: € 1.10)
• Return on Capital Employed (ROCE) of approximately 24% (Q2/25: 21.3%)

Given the positive development during the first half of 2026 and the favorable business outlook for the remainder of the year, Knorr-Bremse is raising its operational guidance for the financial year 2026. The guidance is based on the continued assumption that the Middle East crisis will neither escalate further nor become more prolonged, including with regard to potential supply chain disruptions. In addition to the contribution from the acquisition of duagon, the outlook is based on the company’s current portfolio. Knorr-Bremse now expects:

• Revenue of € 8,100-8,300 million (previously: € 8,000-8,300 million)
• Operating EBIT margin of 14.0-14.5% (previously: around 14%)
• Free cash flow of € 750-850 million

The full half-year report for 2026 will be released as planned on July 30, 2026, and will be available at www.knorr-bremse.com. Notes to and reconciliations with the financial indicators used can be found in the 2025 Annual Report of Knorr-Bremse AG (available here: https://ir.knorr-bremse.com/en/financial-publications-presentations).

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.

2373776  29-Jul-2026 CET/CEST