WERDOHL (dpa-AFX) - German rail technology company Vossloh (VOSSF.PK) reported a preliminary EBIT of 24.5 million in the third quarter of 2020, compared to adjusted EBIT of 11.4 million euros in the previous year.
The company raised its fiscal year 2020 EBIT and EBITDA margin guidance, due to the strong earnings performance in the third quarter of 2020.
For fiscal year 2020, Vossloh now expects an EBIT margin of 7.5 to 8.5 percent, compared to the prior outlook of EBIT margin of 7 to 8 percent.
The company anticipates annual an EBITDA margin to be in the range of 13 to 14 percent compared to the prior guidance of 12 to 13 percent.
The company now expects sales in the order of 870 million euros for the fiscal year 2020. It is slightly below the expectation, which was last put into concrete terms at the lower end of the 900 million euros to 1 billion euros range as a result of the pandemic.
The company will publish its financial results for the first nine months of 2020 on October 29, 2020.
Copyright RTT News/dpa-AFX