Strong earnings in the third quarter in the Vossloh Group - Profitability expectations for the full year raised
Based on the preliminary figures, Vossloh achieved an EBIT of € 24.5 million in the third quarter of 2020 (previous year: adjusted 11.4 million). Overall,EBIT after nine months thus amounts to € 54.5 million with sales of € 617.7 million (previousyear: adjusted € 31.9 million with sales of € 662.1 million) despite noticeable effects of the pandemic. This corresponds to an EBIT margin of 8.8 percent compared to an adjusted 4.8 percent in the previous year. Based on these preliminary figures, the EBITDA margin after nine months is 14.8 percent (previous year: adjusted 10.7 percent). In the first quarter, a carrying amount adjustment of € 15.6 million was recognized in profit and loss resulting from a business combination achieved in stages of a joint venture in China in the Fastening Systems business unit established in the previous year.
The adjusted guidance assumes that there will be no further plant closures due to the corona pandemic in the remaining fiscal year 2020. The complete figures for the first nine months of 2020 will be published with the interim statement on October 29, 2020.