WERDOHL (dpa-AFX) - Vossloh AG (VOS) that manufactures and markets rail infrastructure products and services, on Thursday reported increased revenue and profit for the nine-month period.
Net income for the 9 months ended September 30, 2022, increased to 38.8 million euros or 1.62 euro per share from 33.8 million euros or 1.30 euro per share in the corresponding period of the previous year.
EBIT for the nine-month period of 2022 stood at 55.0 million euros as compared to 62.2 million euros in the prior period.
Sales revenues in the first nine months of the current financial year increased 8.3 percent to 756.2 million euros, as compared to 698.4 million euros in the prior period. Lifecycle Solutions recorded 19.7 percent growth followed by Customized Modules which added 13.6 percent, while sales at Core Components increased moderately by 2.2 percent.
In 2022, the company expects sales between 1.0 billion euros and 1.05 billion euros versus the 0.95-billion-euro to 1.05-billion-euro range communicated earlier.
In respect of the full-year EBIT margin, Vossloh has raised the lower end of the guidance range by a full percentage point to the 7.0 to 7.5 percent range versus the earlier forecast of 6.0 to 8.0 percent.
Shares of Vossloh are currently trading at 36.55 euros, down 0.45 euro or 1.22 percent from the previous close.
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