WERDOHL (dpa-AFX) - Vossloh AG (VOSSF.PK), a German supplier of rail infrastructure products and services, reported Wednesday that its first-half net income declined to 17.3 million euros or 0.63 euro per share from last year's 20.6 million euros or 0.70 euro per share.
Earnings were affected in particular by significantly higher procurement prices for materials and energy.
Group sales revenues grew 3 percent, reaching 476.4 million euros from last year's 462.6 million euros. The increase was mainly due to higher sales in the Customized Modules division.
Orders received in the first half of 2022 totaled 693.0 million euros, a 50.9 percent increase over the previous year.
Orders received increased in all divisions in the second quarter of 2022.
The order backlog reached 827.9 million euros as of June 30, up 41.6 percent over the previous year's level of 584.6 million euros.
Looking ahead, the company projects rising profitability in the second half of the year.
Vossloh made a slight adjustment to its original sales revenues for fiscal 2022, and expects to achieve sales revenues of between 0.95 billion euros and 1.05 billion euros in the current fiscal year.
Previously, sales revenues were projected to be in a range of 925 million euros to 1 billion euros.
Vossloh expects an EBITDA margin of 11.5 percent to 13.5 percent and an EBIT margin between 6 percent and 8 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX