Vossloh raises Q1 sales despite tough market

The Vossloh Group raised its Q1 sales year-on-year and thus continued in the aspired direction of growth. EBIT inched down due to the lower contributions by the Transportation division. At €1.53 billion, order backlog at the close of the quarter was again high.

“Vossloh is expanding as planned, especially outside of Europe,” stated Werner Andree, CEO of Vossloh AG. “I’m confident that, despite the tough market, we will arrive at our forecast for 2013. Vossloh is well positioned to be able to seize the growth opportunities on the rail technology market.”

Altogether, group sales in Q1 mounted year-on-year by 4.5 percent to €267.2 million; EBIT slipped slightly from €10.2 million to €9.7 million. Whereas the Rail Infrastructure division improved both sales and profitability, the Transportation division fell short in both respects. The Group’s Q1 EBIT margin declined from 4.0 to 3.6 percent, ROCE fell from 4.9 to 4.4 percent. Group earnings shrank from €4.2 million to €2.0 million, mainly due to higher minority interests in profit. At March 31, 2013, the Group’s net financial debt had climbed from €191.5 million to €295.8 million.

Vossloh

Source : Vossloh

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