Vossloh raises sales and EBIT guidance for full year 2023
The Executive Board of Vossloh AG (“Vossloh”) raises its sales and EBIT guidance for the full year 2023 based on the latest information on business development to date and the more concrete prospects for the remainder of the year.
Vossloh had originally anticipated a sales range of €1.05 billion to €1.15 billion for the current fiscal year. From today's perspective, the company now expects sales of between €1.125 billion and €1.2 billion. In the Core Components division in particular, sales are expected to be higher than originally anticipated, for instance in Mexico, Germany and Italy. In addition, higher sales are forecast in the Customized Modules division, particularly in Serbia and Italy. The EBIT guidance is also adjusted upward and specified. For the current fiscal year, Vossloh expects an EBIT of between €87 million and €94 million, the previous expectation was in a corridor of €79 million to €88 million. In relation to the new midpoint of the sales guidance, this now results in a range for the EBIT margin between 7.5 percent and 8.1 percent for fiscal 2023 (previously between 7.2 percent and 8.0 percent). The raised EBIT forecast is attributable in particular to the Core Components division, where a double-digit EBIT margin is again expected from today's perspective, mainly thanks to a more profitable project mix.
“We are very satisfied with the development of our business so far this year, and the strong trend of the first few months is likely to continue for the rest of the fiscal year. After Vossloh had already increased sales by 11 percent in the previous year, double-digit growth is now increasingly becoming apparent in 2023 as well," says Oliver Schuster, CEO of Vossloh AG, and continues: "The increasing demand for our sustainable and efficient solutions shows the confidence of our global customers and underlines our leading role as a system house for the rail track.”
Vossloh is a global technology group which for around 140 years has stood for quality, safety, customer focus, reliability, and innovative strength. With its comprehensive range of rail-related products and services, Vossloh ranks among the world market leaders in this sector. Vossloh offers a uniquely broad range of products and services under one roof: Rail fastening systems, concrete sleepers, switch systems and crossings, as well as innovative and increasingly digital-based services for the entire life cycle of rails and switches. Vossloh uses its systemic understanding of the track to address the central customer need of "availability of the rail track".
Vossloh products and services are in use in more than 100 countries. With some 75 group companies in almost 30 countries and over 40 production locations, Vossloh is active locally worldwide. Vossloh is committed to sustainable corporate governance and climate protection and with its products and services makes an important contribution to the sustainable mobility of people and goods.
The Group's activities are organized into the three divisions Core Components, Customized Modules, and Lifecycle Solutions. In the 2022 fiscal year, Vossloh generated sales revenues of €1,046.1 million with around 3,800 employees.