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Vossloh AG
Earnings Release • Apr 27, 2020
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Earnings Release
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News Details
Ad-hoc | 27 April 2020 13:26
Vossloh Aktiengesellschaft: Vossloh announces preliminary results for the first quarter of 2020
Vossloh Aktiengesellschaft / Key word(s): Preliminary Results
Vossloh Aktiengesellschaft: Vossloh announces preliminary results for the first quarter of 2020
27-Apr-2020 / 13:26 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Vossloh achieved sales despite initial effects from the COVID-19 pandemic of €182.9 million in the first quarter of 2020, slightly above the portfolio-adjusted figure of €177.5 million in the previous year (reported previous year’s figure: €190.0 million). Earnings before interest and taxes (EBIT) improved significantly to €16.5 million after the previous year’s quarter still showed negative EBIT of €0.6 million. This unusually high EBIT is due not only to operating improvements but largely also to a €15.6 million adjustment to the carrying amount recognized in profit and loss from obtaining control of a joint venture previously accounted for at equity. Accordingly, the EBIT margin increased to 9.0 percent (previous year: (0.3) percent). Taking into account the described effect from the business combination achieved in stages and based on current knowledge and a careful risk assessment, and with reference to uncertainties regarding the further impact of the COVID-19 pandemic, Vossloh continues to anticipate sales between €900 million and €1 billion as well as an EBIT margin between 7 and 8 percent.
The complete figures for the first quarter of 2020 will be published with the interim statement on April 30, 2020.
Contact:
Vossloh Aktiengesellschaft
Investor Relations
Dr. Daniel Gavranovic
Phone: +49-2392-52-609
Mail: [email protected]
27-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Vossloh Aktiengesellschaft |
| Vosslohstr. 4 | |
| 58791 Werdohl | |
| Germany | |
| Phone: | +49 (0)2392 52 – 359 |
| Fax: | +49 (0)2392 52 – 219 |
| E-mail: | [email protected] |
| Internet: | www.vossloh.com |
| ISIN: | DE0007667107 |
| WKN: | 766710 |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1030293 |
| End of Announcement | DGAP News Service |