Weak 9-month sales, order intake drag Knorr Bremse shares down

Knorr Bremse AG

31/10/2024 08:41

** Shares in Knorr Bremse  KBX.DE  fall 3% after 9-month
results
    ** Jorge Gonzalez Sadornil of Hauck Aufhaeuser points to
weak order intake and sales for the commercial vehicle system
division (CVS), confirming Truck momentum is reverting to
negative
    ** The braking systems manufacturer said 9-month order
intake in CVS came at 6.18 billion euros ($6.71 billion), in
line with the previous year's level 
    ** "The stock already discounted a strong start for the
Boost restructuring process and, therefore the absence of new
transactions in the short-term supposed losing one of the
supports to the good development of the share during 2024,"
Gonzalez Sadornil adds
    ** The stock is at the bottom of Germany's mid-cap index
 .MDAXI 
 
    
  


($1 = 0.9213 euros)

 (Reporting by Paolo Laudani)
 ((Paolo.laudani@thomsonreuters.com))