Knorr-Bremse AG

Dear ladies and gentlemen, welcome to the Knorr Brunswick Q3 2023 earnings call. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to your host, Andreas Spitzhauer.

Thank you, operator. Good afternoon as well as good morning, ladies and gentlemen. I hope all of you are very fine. My name is Andreas Spitzhauer, Head of Investor Relations, and I want to welcome you to Knorr-Bremse's conference call for the third quarter results of 2023. Today, Marcus Desea, our CEO, Frank Weber, our CFO, and Nicole Lange, our new head of RVS, will present the results of Knorr-Bremse, followed by a Q&A session. The conference call will be recorded and is available on our homepage, www.knorr-bremse.com, in the Investor Relations section. Here you can find today's presentation and later a transcript of the call. It is now my pleasure to hand over to Marquis de Fer. Please go ahead.

Thank you, Andreas, and welcome everybody to our conference call. Today's call is made up of four parts. First, we will present and present the key takeaways of today, followed by an introduction by our new colleague in the executive board, Nikolaus Lange. Thereafter, Frank will discuss the quarterly figures in detail, and at the end, we are looking forward to your questions and comments. Let's go to the charts. Chart number two, key takeaways. Let's kick it off on chart number two with our key takeaways for today. We continue to see strong customer demand across all regions, especially in the rail division. As a result, all the book reached record level, which provides a very solid foundation for future utilizations. A boost program, 2026, which I presented at this strategy update in July, is gathering momentum. Cash flow has improved and moved in the right direction. TBS was able to successfully complete the second wave of price increases within 12 months. The first successes have already been seen in Q3. We have identified a revenue basket of 1.4 billion euros, which we are not really satisfied with. We are now systematically working to increase profitability in this part of our business. And at the end of September, we started the process of selling two more businesses that together generate around 200 million euros in annual revenue. We are confident to sell both units within the next 9 to 12 months. We are now very pleased to introduce to you today the new RVS board member, Nicolaus Lange. In addition, the Supervisory Board extended the contract of Claudia Meisler, responsible for integrity, legal IP at Art & HR. Personally, I'm very glad that we now have a strong executive board team with a great spirit of team. Last but not least, we confirm our guidance for 2023, and now it's time I would like to hand over to Nikola, so he can introduce himself to you.