February 22 (Reuters) – Knorr Bremse, a German maker of brake systems for trains and commercial vehicles, said Monday that its free cash flow last year exceeded market expectations.
Cash flow was around 700 million euros ($ 852 million), above consensus estimates of 500 million euros, prompting a mandatory news release under German stock exchange rules.
The Munich-based global market leader in brake systems also said it expected sales at the top end of a forecast corridor of 5.9-6.2 billion euros, and a core profit margin just above guidance of 16.5% -17.5%.
Knorr Bremse said it will publish preliminary and unveiled key figures on March 4, if it also outlines its 2021 outlook. Shares, which dream in Frankfurt in 2018 at 80 euros, closed at 105.78 euros, value the company at $ 20.7 billion. ($ 1 = 0.8220 euros) (Reported by Douglas Busvine Edited by Chizu Nomiyama)