Vossloh raises sales guidance for full-year 2021, EBIT margin guidance confirmed

For the current fiscal year, Vossloh expects higher sales than previously anticipated. From today's perspective, the Group estimates sales of between €900 million and €950 million. The previous outlook was in a corridor between €850 million and €925 million. 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 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.

The outlook is supported in part by the strong business performance in the first half of 2021. Based on preliminary figures, Vossloh generated sales of €462.6 million (previous year: €393.2 million) and EBIT of €42.4 million (previous year: €30.1 million) in the six-month period. Accordingly, the EBIT margin was 9.2% (previous year: 7.6%) and the EBITDA margin 14.8% (previous year: 14.0%). It should be noted that the previous year's figures included a significant one-time book effect that was recognized in profit and loss resulting from the transitional consolidation of a company. On an operating basis, the increase in earnings and profitability was therefore even stronger. In particular this strong performance was due to higher sales at the Fastening Systems business unit. At the same time, the Customized Modules division significantly improved its profitability year on year.

The full figures for the first half of 2021 will be published with the interim report on July 28, 2021.