ots Ad hoc-Service: Vossloh AG <DE0007667107> Vossloh Group: sales and profit above budget in first half of 2000
Werdohl (ots Ad hoc-Service) -
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During the first six months of fiscal 2000, the Vossloh Group achieved sales of Euro 394 million, thus slightly exceeding the year- earlier Euro 384.5 million and the budget of Euro 381.1 million. At Euro 29.5 million, Group earnings before interest and taxes (EBIT) exceeded the budgeted Euro 24.8 million by a good Euro 5 million or 19 percent. As of June 30, 2000, the Group's pretax profit, or EBT, came to Euro 23.8 million, meaning an above-budget rise of 22 percent. During the first six months of the period, Group net income per share amounted to Euro 0.69.
In the first half of 2000, the Railway & Transport division's sales reached Euro 253 million, year-on-year down by about 8 percent (from Euro 275 million) and around 5 percent below the budgeted Euro 268 million. At Euro 24.7 million, EBIT nevertheless exceeded the budgeted Euro 22.2 million by 11 percent, albeit failing as expected to match the previous year's Euro 29.7 million (June 30).
At about Euro 141 million, the Lighting division's sales in the first half of 2000 were 24 percent above the budgeted Euro 114 million and even some 28 percent above the year-earlier level of Euro 110 million. The EBIT generated, at Euro 8.8 million, exceeded the modest budget level-in view of the ongoing restructuring within the division-of only Euro 7.1 million by some 24 percent, thus not falling as far behind the mid-1999 Euro 10.6 million as expected.
As of June 30, 2000, capital expenditure reached Euro 15.6 million, virtually matching the prior-year Euro 15.9 million. As of the same date, the number of employees came to 5,588 (down from 5,623).
By year-end, Vossloh is expecting Group sales to climb from the preceding year's Euro 790 million (budgeted Euro 800 million) to Euro 820 million. EBT should reach Euro 52 million, thus exceeding the prior year's Euro 41.4 million also by some 25 percent. Group net income is set to improve to Euro 23.6 million, meaning 7 percent above the budgeted Euro 22 million and 33 percent above 1999's Euro 17.7 million. Group net income per share is thus likely to reach Euro 1.64 for the year 2000 (up from Euro 1.23).
Vossloh AG Executive Board
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