WERDOHL (dpa-AFX) - The Vossloh Group (VOSSF.PK) reported a net loss of 136.8 million euros in fiscal 2019 compared to profit of 22.7 million euros, previous year. Loss per share was 8.32 euros compared to profit of 1.14 euros. Adjusted EBIT was 55.7 million euros compared to 54.2 million euros, last year. Adjusted EBIT margin was 6.1 percent compared to 6.3 percent.
Fiscal 2019 sales revenues rose by 5.9 percent to 916.4 million euros. The company said the background to this positive development is the growth in the Core Components division.
In fiscal 2020, Vossloh expects sales of between 900 million euros and 1 billion euros. Profitability is expected to increase noticeably in fiscal year 2020 compared to the adjusted EBIT margin in 2019. The company said the development of sales and earnings has hardly been affected by the COVID-19 pandemic so far in the year.
The company noted that its dividend proposal is subject to current developments related to COVID-19 pandemic. The Executive Board and Supervisory Board had previously planned to propose to the shareholders a dividend of 1.00 euros per share.
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