Vossloh AG - Earnings Release 2020

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.

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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