WERDOHL (dpa-AFX) - German transport services firm Vossloh Group (VOSSF.PK) reported that its net profit for fiscal year 2016 dropped to 10.1 million euros and 0.22 euros per share from 77.8 million euros and 5.42 euros per share in the prior year.
But, the Group's earnings before interest and taxes or EBIT for the year improved slightly to 50.0 million euros from 42.3 million euros in 2015.
Sales for the year slightly declined to 931.6 million euros from 952.9 million euros in the prior year.
The prior year figures adjusted due to the treatment of the Electrical Systems business unit as discontinued operations.
The total number of employees in the Vossloh Group as of the reporting date of December 31, 2016 remained unchanged as compared to the previous year at 4,051.
For 2017, following a hesitant start as typical for the business, Vossloh anticipates a sales increase to between 1.0 billion euros and 1.1 billion euros. Revenue growth will be supported primarily by the first-time inclusion of the Tie Technologies business unit.
Overall, the company expects that in the current portfolio structure it will be able to achieve an EBIT margin for the Group of between 5.5% and 6.0% for full-year 2017.
From the current perspective, both EBIT and the EBIT margin will continue to improve in 2017.
Copyright RTT News/dpa-AFX