EQS-News

Vossloh achieves record sales and significant increase in EBIT in the 2023 financial year

EQS-News: Vossloh Aktiengesellschaft / Key word(s): Annual Report Vossloh achieves record sales and significant increase in EBIT in the 2023 financial year 21.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement.  Vossloh achieves record sales and significant increase in EBIT in the 2023 financial year

• Sales increase by 16.1% and reach record figure of €1,214.3 million
• Orders received slightly above sales level at €1,217.4 million
• EBIT of €98.5 million exceeds previous year's result by 26.2%
• Free cash flow more than doubled to €70.9 million
• Proposed dividend of €1.05 per share (previous year: €1.00 per share)
• Outlook 2024: EBIT expected to increase significantly to between €100 million and €115 million

Werdohl, March 21, 2024. Vossloh can look back on an extremely successful financial year 2023, which was characterized by significant sales growth, a substantial increase in EBIT and a considerable improvement in free cash flow.

The company's order situation remains positive: Orders received almost matched the previous year's record figure of €1,217.4 million. The winning of important multi-year framework agreements, which are not directly reported as orders received, also underlines the sales success in the financial year 2023. These include, for example, the expanded cooperation with Deutsche Bahn in the switch business and the supply of switch systems to the Danish rail network operator Banedanmark. At around €761.2 million, the order backlog as of December 31, 2023 remained well above the historical average in the infrastructure business.

Vossloh achieved a remarkable sales growth of 16.1% in 2023 and reached a new all-time high in the rail infrastructure business with group sales of €1,214.3 million. The home market of Germany made a significant contribution to the increase with sales growth of almost 40%. The Vossloh Group's EBIT reached €98.5 million in the year under review, representing a significant increase of 26.2%. The company's performance thus significantly exceeded the original expectations for the 2023 financial year. Sales revenues and EBIT were at the upper end of the guidance ranges last raised in October 2023.