DGAP-News
Vossloh Aktiengesellschaft: Vossloh with a very good start in the 2021 fiscal year, sales and operating profitability well above the previous year
DGAP-News: Vossloh Aktiengesellschaft / Key word(s): Quarterly / Interim Statement Vossloh with a very good start in the 2021 fiscal year, sales and operating profitability well above the previous year |
- Sales up 13.2 percent year on year
- EBIT increases to €12.1 million (operating EBIT previous year: €0.9 million)
- EBITDA margin of 12.4 percent (operating EBITDA margin previous year: 7.2 percent)
- Hybrid note provides financial flexibility and significantly reduces net financial debt
- Outlook for 2021 confirmed, including significant year-on-year increase in operating profitability
Werdohl, April 29, 2021. Vossloh has made an excellent start to the 2021 fiscal year. Despite continuing challenges due to COVID-19, group sales went up by 13.2 percent to €207.1 million in the first three months of the fiscal year (previous year: €182.9 million). This was mainly due to higher sales in the rail fastening systems business in China, largely as a result of deliveries being shifted to 2021 due to the pandemic. As in the previous year, orders received developed positively in the first three months of 2021 and came to €260.0 million (previous year: €291.9 million). The ratio of new orders to sales (book-to-bill) remained again high at an encouraging 1.26. EBIT came to €12.1 million, a significant improvement after comparable €0.9 million in the first quarter of 2020. The EBIT figure reported in the previous year of €16.5 million included a positive effect totalling €15.6 million related to the transitional consolidation of a Chinese joint venture. The operating EBIT margin increased from 0.5 percent in the previous year to 5.8 percent in the first quarter of 2021. Accordingly, operating EBITDA also went up significantly from €13.2 million to €25.6 million year on year, while the operating EBITDA margin climbed from 7.2 percent to 12.4 percent.