WERDOHL (dpa-AFX) - German transport services firm Vossloh Group (VOSSF.PK) reported Wednesday that its first-half net income declined to 13.4 million euros from 14.6 million euros a year ago. Earnings per share fell to 0.56 euro from 0.92 euro last year.
Vossloh Group's EBIT rose 37.1 % to 26.6 million euros from previous year's 19.4 million. The EBIT margin improved to 5.4% from 4.6% last year.
The improved EBIT and margins are attributable to the good business performance of the Core Components division in particular.
The company said the prior year's figures were adjusted due to the disposal of the Electrical Systems business unit.
Net sales rose 16.7 % to 492.2 million euros from 421.6 million euros last year, partly due to the initial consolidation of the new Tie Technologies business unit.
The orders received were 465.0 million euros, slightly lower than 472.6 million euros a year ago. Order backlog as of June 30 was 737.3 million euros, compared to previous year's 633.7 million euros.
Further, the company confirmed group forecast for 2017.
Vossloh's sales target for all of 2017 is still between 1.0 billion euros and 1.1 billion euros. The company said the sales growth will primarily be driven by the inclusion of Vossloh Tie Technologies and increasing sales revenues in the Transportation division.
Given the current situation and portfolio structure, the Executive Board estimates that the company will reach an EBIT margin between 5.5% and 6.0%.
In Germany, Vossloh shares were trading at 59.34 euros, up 1.02%.
Copyright RTT News/dpa-AFX