Vossloh Achieves record sales in 2023
Vossloh experienced notable growth in sales, a substantial boost in EBIT, and an improvement in free cash flow, during the 2023 fiscal year. The company’s sales increased by 16.1 per cent, reaching a record-breaking figure of 1,214.3 million euros, with orders received slightly surpassing the sales level of 1,217.4 million euros. The EBIT surged to 98.5 million euros, marking a substantial increase of 26.2 per cent over the previous year. Furthermore, free cash flow more than doubled, reaching 70.9 million euros.
Vossloh also announced a proposed dividend of 1.05 euros per share, up from 1.00 euros per share in the previous year. Looking ahead to 2024, the company anticipates a significant rise in EBIT, expected to range between 100 million euros and 115 million euros. Sales growth in the rail infrastructure business reached an all-time high of 1,214.3 million euros, with the German market contributing significantly with sales growth of nearly 40 per cent. The company’s Core Components division achieved orders of 542.7 million euros, with the Tie Technologies business unit making a substantial contribution to revenue growth.
In the Customised Modules division, sales revenues surged to 537.4 million euros, driven by increased sales in Italy, Serbia, and Germany. Similarly, the Lifecycle Solutions division witnessed a significant increase in sales, rising to 163.5 million euros, with notable contributions from Germany and the Netherlands.
The company’s workforce expanded during the fiscal year, with the average number of employees reaching 3,999, reflecting growth across all divisions. Looking forward to 2024, Vossloh anticipates stable sales revenues and further growth in EBIT, driven by positive market demand and a robust order backlog. The proposed dividend increase underscores the company’s confidence in its continued growth and performance.
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