Vossloh starts 2024 with a surge in Sales and EBIT performance
Vossloh has reported a strong financial performance for the opening quarter of the 2024 financial year. The company achieved significant growth in sales and earnings before interest and taxes (EBIT).
Sales for the quarter reached 268.8 million euros, the highest level ever recorded for an opening quarter, marking a 4.9 per cent increase compared to the previous year. Additionally, EBIT improved by 27.4 per cent, rising to 17.9 million euros. Orders received also surpassed expectations, reaching 350.1 million euros, indicating strong demand for Vossloh’s products and services.
Net income and earnings per share more than doubled compared to the previous year, demonstrating the company’s robust financial performance. Vossloh’s outlook for the remainder of 2024 remains positive, with expectations of continued growth in earnings and profitability.
Oliver Schuster, CEO of Vossloh AG stated: “The excellent results, we achieved in the opening quarter of the 2024 financial year, are another chapter in our success story. Despite persistently challenging conditions, we have once again demonstrated our efficiency. Sales revenues reached a new record level and the positive earnings trend of recent years is continuing.”
Divisions and workforce
The Core Components division also experienced a significant increase in EBIT, with sales revenues maintaining a high level. Similarly, the Customised Modules division saw growth in both sales revenues and EBIT, driven by increased sales in key regions.
In the Lifecycle Solutions division, orders received reached a new peak level for an opening quarter, reflecting strong demand, particularly in China, Northern Europe, and Germany. Although the division’s EBIT remained negative due to seasonal factors, the company remains optimistic about its long-term prospects.
Vossloh’s workforce also expanded during the quarter, with the average number of employees increasing to 4,047, primarily driven by growth in the Lifecycle Solutions and Customised Modules divisions.
Looking ahead
Looking ahead, Vossloh confirms its forecast for the current financial year, expecting sales revenues to range between 1.16 billion euros and 1.26 billion euros. The company anticipates further growth in EBIT, projecting it to reach between 100 million euros and 115 million euros, with an EBIT margin between 8.3 per cent and 9.5 per cent, based on the average sales forecast.
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