- WKN: 766710
- ISIN: DE0007667107
- Land: Deutschland
Nachricht vom 18.03.2021 | 07:29
Vossloh Aktiengesellschaft: Orders received and sales up when adjusted for portfolio effects, profitability significantly higher year on year
DGAP-News: Vossloh Aktiengesellschaft
/ Key word(s): Annual Report
Orders received and sales up when adjusted for portfolio effects, profitability significantly higher year on year
Werdohl, March 18, 2021. Vossloh AG published its figures for the 2020 fiscal year today. In a year marked by COVID-19, Vossloh can look back on a very successful 2020 fiscal year from an operational and strategic perspective, also due to the above-average stability of the rail infrastructure sector in times of crisis. Orders received came to €915.5 million in 2020, an increase of 5.6 percent compared to the previous year's figure adjusted for portfolio effects of €866.7 million. The order backlog totaled €594.5 million at the end of 2020, 8.2 percent higher than the previous year's figure of €549.2 million. Sales revenues went up slightly from portfolio-adjusted €861.5 million in the previous year to €869.7 million. Postponements of deliveries and services on the customer side amounted to around €90 million in the 2020 fiscal year due to the pandemic. EBIT came to €73.1 million in the 2020 fiscal year (adjusted figure for the previous year: €55.7 million). This corresponds to an EBIT margin of 8.4 percent (adjusted figure for the previous year: 6.1 percent). This exceeded the original expectations for the 2020 fiscal year and was at the upper end of the most recently forecast range of 7.5 percent to 8.5 percent. The EBITDA margin was 14.2 percent in 2020 (adjusted figure for the previous year: 11.5 percent), and thus even exceeded the most recently forecast range of 13 percent to 14 percent. The margin key figures include negative effects related to COVID-19 totaling around €25 million. These effects were only partially compensated for by an effect recognized in profit and loss of just under €16 million due to the transitional consolidation of a joint venture in China.
The Group's net assets and financial position also improved noticeably. The equity ratio went up to 34.1 percent (previous year: 30.3 percent). Despite the impacts of the pandemic, free cash flow in the core business of rail infrastructure went up from €2.4 million in the previous year to €58.1 million in the year under review. This strong performance was the main factor that led to the reduction of net financial debt (excluding finance lease liabilities) from €321.3 million in the previous year to €307.4 million at the end of the 2020 fiscal year.
In addition to the positive operational business performance, the 2020 fiscal year was also very successful in strategic terms. Vossloh finished the transformation into a company focused exclusively on rail infrastructure with the sale of the Locomotives business unit completed at the end of May 2020. While the free cash flow in the 2020 fiscal year was still burdened by €54.1 million and earnings per share by €1.49 from discontinued operations, such effects will no longer apply in the future. Vossloh also used the 2020 fiscal year to update its corporate strategy. As a result, the existing business with products and services will be further strengthened through a wide range of measures. At the same time, digital-based business models including the corresponding maintenance services will be expanded on this strong basis and will become noticeably more important for Vossloh going forward.
"After years of realignment and restructuring, 2020 marks a major turning point in the history of our Group. Following the successful completion of Vossloh's transformation, we can look to the future with confidence. It is time for us to join forces and expand our strong position in the rail infrastructure market. We used 2020 for the last fine-tuning of our corporate strategy," explains Oliver Schuster, Chief Executive Officer of Vossloh AG. "The importance of rail systems is currently growing rapidly. Vossloh has the range of products and services it needs to not only benefit from the renaissance of rail transport in the digital age, but also be a driving force in this trend. With customer orientation, experience, innovative strength and a strong team. We make a significant contribution to climate protection and green mobility."
Core Components division
Customized Modules division
Lifecycle Solutions division
1 The 2019 orders received figure does not include €71.5 million from the U.S. switch activities sold in the same year for comparability purposes.
Contact information for the media:
Vossloh is a globally active technology group dedicated for over 135 years to quality, safety, reliability, innovation and customer orientation. Vossloh's comprehensive range of rail track-related products and services make the company a leader in the global market in this area. Vossloh provides a uniquely wide range of products and services: rail fastening systems, concrete ties, switch systems and crossings as well as innovative and increasingly digital-based services for the entire lifecycle of rails and switches. Vossloh uses its extensive understanding of rail infrastructure to meet the key customer need of track availability.
Vossloh AG * Vosslohstrasse 4 * 58791 Werdohl, Germany * Telephone +49 (0) 239 252-0 * Fax +49 (0) 239 252-538 * www.vossloh.com
|Phone:||+49 (0)2392 52 - 359|
|Fax:||+49 (0)2392 52 - 219|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1176405|
|End of News||DGAP News Service|
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