EQS-News

Vossloh achieves record sales and significant increase in EBIT in the 2023 financial year - Seite 2

The significant improvement in free cash flow, which increased from €27.9 million in the previous year to €70.9 million in the 2023 reporting period despite higher capital expenditure, is also particularly noteworthy. In addition to the strong operating performance, this is primarily due to a significantly lower increase in working capital compared to the previous year. The group-wide working capital program Cash4Growth, which was launched in spring 2023, made its first positive contributions here. Thanks to the significant improvement in free cash flow, net financial debt fell to €219.5 million at the end of the reporting period (December 31, 2022: €237.5 million).

"The year 2023 was once again characterized by a variety of challenges, some of which had a significant impact on the global economy. As a globally active company, we have to deal with increasing complexity on a daily basis, act flexibly and quickly and constantly adapt to changing conditions. And this is precisely what we did remarkably well once again in 2023. Despite these difficult conditions, we achieved a new all-time high in sales revenues and significantly increased our EBIT to just under €100 million," says Oliver Schuster, Chief Executive Officer of Vossloh AG, adding: "Vossloh's success is crucially linked to our technological leadership, our reliability, our uniquely comprehensive product and service portfolio and our forward-looking, sustainable and crisis-resistant business model. In addition, we have a team that brings its passion, expertise and innovative strength to bear every day in order to provide our customers with the best possible support. I would like to expressly thank all Vossloh employees for this and I am delighted that together we are advancing the ecologically and economically sensible transformation of transportation worldwide."

Core Components with significant increase in sales and higher profitability

Orders received in the Core Components division amounted to €542.7 million in 2023, only slightly below the previous year's high level of €554.4 million. The order backlog as of December 31, 2023 amounted to €262.1 million (previous year's reporting date: €285.4 million). Sales revenues in the division increased by 13.4% to €546.7 million (previous year: €482.1 million). While the Fastening Systems business unit only recorded comparatively slight sales growth of 2.4%, the Tie Technologies business unit made a significant contribution to the positive revenue development with growth of 43.3%. The Core Components division generated EBIT of €69.8 million in the 2023 financial year (previous year: €43.7 million). The significant increase of €26.1 million was primarily due to higher sales revenues and a higher-margin project mix.