WERDOHL (dpa-AFX) - Rail technology company Vossloh AG (VOSSF.PK) reported that its preliminary EBIT for the first half of 2021 rose to 42.4 million euros from last year's 30.1 million euros. Sales were 462.6 million euros up from 393.2 million euros in the prior year.
For the current fiscal year, Vossloh now expects higher sales than previously anticipated. The Group now estimates sales of between 900 million euros and 950 million euros, compared to the prior outlook of 850 million euros and 925 million euros. Improvements are expected in particular at the Fastening Systems business unit and Customized Modules division.
In terms of profitability, Vossloh continues to anticipate an EBITDA margin of 13 to 14 percent and an EBIT margin of 7 to 8 percent for fiscal year 2021.
The company noted that profitability guidance is confirmed despite expected significant burdens due to strongly increased material prices, which will impact negatively Vossloh's earnings especially in the second half of 2021. Compared to the previous year, this means a significant overall increase in operating profitability.
Copyright RTT News/dpa-AFX
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