Vossloh AG

Earnings Release • Mar 21, 2003

News Details

Ad-hoc | 21 March 2003 08:25

Vossloh AG english

Predictions for 2002 outpaced / dividend to rise by 60 percent to EUR 1.20 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vossloh: predictions for 2002 outpaced / dividend to rise by 60 percent to EUR 1.20 The Vossloh Group closed fiscal 2002 even more successfully than predicted back in mid-December 2002. At EUR 744.5 million (forecasted at EUR 725 million), the year-earlier comparable rail business sales of EUR 650.5 million were topped by 14.5 percent. EBIT (forecasted at just under EUR 77 million) advanced by 59.7 percent to reach EUR 78.4 million (up from EUR 49.1 million). Group earnings (forecasted at EUR 50.4 million) came to EUR 52.4 million in 2002 (up from EUR 17.2 million). As to dividend distribution, the Executive and Supervisory Boards’ proposed EUR 1.20 per share (up 60 percent from EUR 0.75) will surpass even the ambitious increases already signaled. Despite the still hostile economic environment, the Vossloh Group expects this year’s sales to mount by more than 16 percent to a good EUR 870 million, with EBIT rising as much as over 20 percent to just under EUR 95 million. Despite a higher tax load ratio, doubling to 30 percent compared with 2002, Group earnings are set to again reach the high level of the previous period. As to 2004, Vossloh predicts a further increase in Group sales by around 6.5 percent plus a proportionally much higher growth in EBIT. Despite the expected far higher tax burden of almost 40 percent, Vossloh still forecasts another rise in Group earnings. Werdohl, March 21, 2003 Vossloh AG, The Executive Board end of ad-hoc-announcement (c)DGAP 21.03.2003 ——————————————————————————– WKN: 766710; ISIN: DE0007667107; Index: MDAX Listed: Amtlicher Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hannover, München und Stuttgart 210825 Mär 03