Knorr-Bremse Group reports further growth

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In fiscal 2010 the Knorr-Bremse Group reported sales of EUR 3.71 billion, up by 34% or almost EUR 1 billion. The increase includes positive currency translation effects in the amount of approximately EUR 170 million. Assuming constant exchange rates, operational earnings were up 28% year-on-year.

Sales at the Rail Vehicle Systems division moved ahead from EUR 1.55 billion in the previous year to EUR 2.02 billion in 2010. The increase was primarily driven by a marked rise in sales of over 100% in Asia, where Knorr-Bremse has been progressively expanding its market presence since the late 1980s.

In 2010 the Commercial Vehicle Systems division of Knorr-Bremse benefitted from the increasing pace of recovery of commercial vehicle markets, posting sales of EUR 1.70 billion (2009: EUR 1.22 billion). Despite the rise in activity in the commercial vehicle sector, in 2010 the markets in Europe and North America remained well below their pre-crisis level.

Outlook for 2011

In 2011 the Knorr-Bremse Group expects to see the continuing positive development of its overall business in an environment that remains volatile.

The company’s Financial Statements Press Conference will be held in Munich on March 31, 2011 at 10 a.m.

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