DGAP-Adhoc

Vossloh Aktiengesellschaft: Electrical Systems business unit is presented as 'discontinued operations'

Vossloh Aktiengesellschaft / Key word(s): 9-month figures

27.10.2016 07:02

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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As of September 30, 2016, Vossloh has presented the Electrical Systems
business unit as "discontinued operations". As a result of the advanced
stage of negotiations on the sale of the business unit, the Executive Board
assumes that a sale will, in all likelihood, take place in the coming
months. As of September 30, based on the current status of negotiations, an
impairment loss of approximately EUR 9 million was incurred on the carrying
amount of the Electrical Systems business unit in accordance with IFRS 5.
Vossloh currently expects a net cash inflow in the low to middle
double-digit million range from the sale of the business unit. Electrical
Systems in Duesseldorf is one of the two business units of the
Transportation division which is held for sale. Business activities are
focused on the production of electric systems for local transport rail and
road vehicles. Following the sale of the Rail Vehicles business unit which
was completed already in the previous year, the planned sale of the
Electrical Systems business unit represents a further step in the
implementation of the Group strategy of focusing on rail infrastructure as
announced in December 2014.

Sales from continuing operations of the Vossloh Group - not including the
Electrical Systems business unit - were EUR664.1 million in the first nine
months of 2016 and thus 4.3% below the level of the previous year (EUR694.3
million). Earnings before interest and taxes (EBIT) from continuing
operations reached EUR34.7 million in the reporting period. In the first
nine months of 2015, the comparable EBIT figure was EUR29.7 million. The
EBIT margin from continuing operations after nine months of the current
year was 5.2% (previous year: 4.3%). A calculation on the basis of the
Group structure not including the Electrical Systems business unit which is
held for sale results in an adjusted sales expectation for full-year 2016
of between EUR930 and EUR970 million and an EBIT margin of between 4.5% and
5.0%. For 2017, the previous expectation including the Electrical Systems
business unit was an EBIT margin of between 5.5% and 6.0%. Excluding
Electrical Systems, an EBIT margin at the higher end of the range stated is
expected for 2017.


27.10.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: Vossloh Aktiengesellschaft
Vosslohstr. 4
58791 Werdohl
Germany
Phone: [phone] - 359
Fax: [phone] - 219
E-mail: [e-mail]
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange

End of Announcement DGAP News-Service

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