KNBHF - Knorr-Bremse: Further Upside Exists

2024-06-21 07:30:00 ET

Summary

• Knorr-Bremse has shown a 26% TSR increase since September, with strong fundamentals and a well-filled order book.
• The company has low debt, a 2.3% yield, and reported excellent 1Q24 results with revenue growth and operating EBIT increase.
• Knorr-Bremse is acquiring new assets while selling non-core ones, with positive macro-level trends and growth projections of 10-13% for 2025 and 2026E.

Dear readers/followers,

In this article, I'm updating my thesis on the German industrial Knorr-Bremse ( OTCPK:KNRRY ) ( OTCPK:KNBHF ), with the native symbol KBX on the German market. This is a low-yield company that has held a very solid upside for some time, and where I have put capital to work for over a year at this point.

Since my last article, I have bought more and the company is up more than 26% TSR since that time, in this case since September of last year. You can see the total rate of return and how good things have gone for the company and my investment in that article, which you can find here, or see below....

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