Vossloh AG

Earnings Release • Apr 23, 2003

News Details

Ad-hoc | 23 April 2003 08:01

Vossloh AG english

Vossloh: starting off well into fiscal 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vossloh: starting off well into fiscal 2003 Sales up by a good 22 percent, EBIT more than doubled Despite the lingering economic scenario of doom and gloom, the Vossloh Group had a good start into the current fiscal year 2003. Q1 sales rose like-for-like by more than 22 percent, from EUR 135.1 million to EUR 165.5 million, EBIT during the same period more than quadrupled over the corresponding year-earlier EUR 7.3 million to EUR 29.5 million. This latter includes the gain of EUR 14.5 million from the sale on January 2, 2003, of the final third of the VAE stake, net after risk provisions. Adjusted for this amount, EBIT surged by almost EUR 8.0 million to EUR 15.0 million. Hence, added sales of a good 22 percent have yielded more than twice the EBIT derived from operating activities. Group earnings in Q1/2003 surged from EUR 1.9 million a year ago to EUR 21.1 million, equivalent to an EpS of EUR 1.54 (up from EUR 0.14). The sound progress made during the first three months of 2003 endorses the predictions for 2003 as such. Vossloh is still expecting Group sales in 2003 to climb by more than 16 percent to a good EUR 870 million (up from EUR 744.5 million). EBIT is set to rise from EUR 78.4 million by more than 20 percent to just under EUR 95 million. These figures include gains meanwhile booked from the disposal of investments (net after risk provisions) of EUR 14.5 million (up from EUR 14.4 million). The EBIT margin in 2003 is budgeted to increase slightly from 10.5 to 10.9 percent, Group earnings at EUR 52 million will be in the region of the high prior-year figure. ROCE at over 15 percent will be easily above the year-earlier 13.3 percent. Vossloh AG, the Executive Board Werdohl, April 23, 2003 end of ad-hoc-announcement (c)DGAP 23.04.2003 ——————————————————————————– WKN: 766710; ISIN: DE0007667107; Index: MDAX Listed: Amtlicher Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hannover, München und Stuttgart 230801 Apr 03