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MarketScreener Homepage  >  Equities  >  Xetra  >  Knorr-Bremse    KBX   DE000KBX1006

KNORR-BREMSE

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Knorr Bremse : Prime Minister Viktor Orbán had talks with Knorr-Bremse executive

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05/04/2019 | 03:05am EDT

On Thursday morning in the Carmelite Monastery Prime Minister Viktor Orbán received Heinz Hermann Thiele, Honorary Chairman of the Supervisory Board of Knorr-Bremse AG.

At the meeting, which was also attended by Minister for Innovation and Technology László Palkovics and István Lepsényi, Chief Executive of Valor Hungariae Zrt., the parties spoke about the implementation of the Zalaegerszeg automotive test track.

The first phase of the project will be inaugurated as part of a ceremony to be attended by Mr Orbán at the end of May. Knorr-Bremse was among the first to announce their intention to use the test track.

At the Thursday talks, the attending parties were informed that Knorr-Bremse's plans feature the establishment of a new innovation centre in Budapest as well as further projects and developments in Hungary.

The Munich-based Knorr-Bremse concern is the world's leading manufacturer of braking systems and supplier of additional sub-systems for rail and commercial vehicles.

The Hungarian subsidiary was established by Heinz Hermann Thiele in 1995. Knorr-Bremse is present in Hungary with two manufacturing sites and a research and development centre. The Kecskemét plant manufactures systems for commercial vehicles, while the Budapest plant makes railway braking systems.

(c) 2019 The Hungarian State Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2019 7 006 M
EBIT 2019 1 096 M
Net income 2019 699 M
Finance 2019 796 M
Yield 2019 2,03%
P/E ratio 2019 22,32
P/E ratio 2020 21,29
EV / Sales 2019 2,12x
EV / Sales 2020 2,06x
Capitalization 15 653 M
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 92,9 €
Spread / Average Target -4,4%
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Managers
NameTitle
Klaus Deller Chairman-Executive Board
Klaus J. Mangold Chairman-Supervisory Board
Ralph Heuwing Chief Financial Officer
Heinz Hermann Thiele Honorary Chairman-Supervisory Board
Werner Ratzisberge Member-Supervisory Board
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