WERDOHL (dpa-AFX) - German transport services firm Vossloh Group (VOSSF.PK) reported that its net income for the first-quarter 2016 was 3.8 million euros and 0.21 euros per share, compared to loss of 1.0 million euros and 0.19 euros per share in the same quarter last year. The prior year figures adjusted due to the sale of the former Rail Vehicles business unit.
EBIT were 2.3 million euros, compared to negative 2.2 million euros in the year ago quarter.
Due to revenue shifts between the quarters, sales at the Vossloh Group of 240.1 million euros in the first quarter were 7.6 percent below the previous year figure of 259.8 million euros, adjusted as a result of the sale of the Rail Vehicles business unit.
For the full-year 2016, Vossloh continues to anticipate sales between 1.2 billion euros and 1.3 billion euros and a further continuous improvement in operational profitability. Particularly strong sales growth is expected in the Core Components division. The EBIT margin of the Group will improve slightly to between 4.0 percent and 4.5 percent in the current financial year as compared to the previous year (2015: 3.8 percent) supported by the continuation of the restructuring measures.
For 2017, on the basis of the current Group structure, Vossloh expects an EBIT margin of between 5.5 percent and 6.0 percent. Vossloh is still planning to sell the remaining activities of the Transportation division, which is to lead to a further improvement in profitability.
Copyright RTT News/dpa-AFX