Feb 22 (Reuters) – Knorr Bremse, a German manufacturer of braking systems for trains and commercial vehicles, said Monday that its free cash flow last year was affecting market expectations.
Cash flow of around 700 million euros ($ 852 million), above consensus estimates of 500 million euros, issued a mandatory press release under German stock exchange rules.
The Munich-based global market leader in braking systems also said it expected sales at the top of the forecast corridor of 5.9-6.2 billion euros, with a underlying profit margin just above management of 16.5% -17.5%.
Knorr Bremse said it would publish initial and unveiled key figures on March 4, when it releases its forecast for 2021. Shares, launched in Frankfurt in 2018, closed at 80 euros , at 105.78 euros, valuing the industry at $ 20.7 billion. ($ 1 = 0.8220 euros) (Reporting by Douglas Busvine Edited by Chizu Nomiyama)