22.10.2019 Vossloh Aktiengesellschaft  DE0007667107

DGAP-Adhoc: Vossloh Aktiengesellschaft: Vossloh streamlines portfolio and concretizes the effects of the performance program


DGAP-Ad-hoc: Vossloh Aktiengesellschaft / Key word(s): Mergers & Acquisitions
Vossloh Aktiengesellschaft: Vossloh streamlines portfolio and concretizes the effects of the performance program

22-Oct-2019 / 02:40 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Vossloh AG has made additional important progress with the implementation of the performance program that was adopted in April 2019. The objective of this program is, among other things, the divestment of loss-generating or underperforming activities. In this connection, a contract was signed today with a strategic buyer for the sale of the largest U.S. Group company in the Customized Modules division, Cleveland Track Material Inc. (CTM), Cleveland, Ohio. Translated into euros, the purchase price and net inflow of funds amount to approximately EUR35 million. The Supervisory Board has already approved the sale. The closing of the transaction does not depend on regulatory approvals and is still expected in 2019.

In addition, the Executive Board of Vossloh AG has at the same time adopted additional measures to streamline the portfolio in the Customized Modules division. This affects all current activities of this division in the USA and South America. The companies affected, including CTM, generated sales in the 2018 fiscal year of around EUR65 million and negative EBIT or significantly below-average profitability over several years. Vossloh currently expects exceptional noncash charges in connection with these transactions of around EUR40 million in the current fiscal year and overall in connection with the disposal of loss-making activities special charges of around EUR55 million which are largely noncash effective.

With a view to the target of reducing the number of employees worldwide by around 5 percent compared with the end of 2018, Vossloh has initiated necessary measures in recent months and will achieve this target. Expenses for staff reductions in the order of around EUR30 million are currently expected for 2019. The corresponding cash outflows and employee departures will affect the years 2019 and 2020.

From today's perspective, total expenses of around EUR85 million in connection with the performance program are consequently expected in the 2019 fiscal year. Taking into consideration the proceeds from the sale of CTM alone, a positive cash effect is already expected from the performance program in the current fiscal year. From today's view, overall savings through the performance program will total around EUR15 million to EUR20 million per fiscal year, of which a large proportion will already take effect for the first time in the 2020 fiscal year. These savings are an important step on the way to achieving double-digit EBIT margins in the medium term in all divisions and noticeably expand the financial room for maneuver.

The Executive Board confirms the outlook for the operational business for the 2019 fiscal year. Vossloh expects sales of between EUR900 million and EUR1 billion. The EBIT expected for the operational business will probably be in the lower third of the forecast range of between EUR50 million and EUR60 million, in particular due to the weak business development of CTM, the company sold today. As a result of the streamlined portfolio, Vossloh now also expects Group sales of between EUR900 million and EUR1 billion but a significantly improved EBIT between EUR65 million and EUR80 million in the 2020 fiscal year.

Vossloh Aktiengesellschaft
Investor Relations
Dr. Daniel Gavranovic
Phone: +49-2392-52-609
Mail: [email protected]

22-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Vossloh Aktiengesellschaft
Vosslohstr. 4
58791 Werdohl
Phone: +49 (0)2392 52 - 359
Fax: +49 (0)2392 52 - 219
E-mail: [email protected]
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 893701

End of Announcement DGAP News Service

893701  22-Oct-2019 CET/CEST


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 1.200,70 931,60 918,30 865,00 916,40 869,70 935,00
EBITDA1,2 85,40 85,60 133,50 92,60 105,39 133,90 127,00
EBITDA-Marge3 7,11 9,19 14,54 10,71 11,50 15,40 13,58
EBIT1,4 45,10 50,00 70,30 54,20 -37,60 73,10 75,00
EBIT-Marge5 3,76 5,37 7,66 6,27 -4,10 8,41 8,02
Jahresüberschuss1 77,80 10,10 0,30 22,70 -136,80 20,80 36,00
Netto-Marge6 6,48 1,08 0,03 2,62 -14,93 2,39 3,85
Cashflow1,7 107,80 65,80 24,50 37,60 12,30 56,10 94,00
Ergebnis je Aktie8 5,42 0,22 -0,50 1,14 -8,32 0,98 2,10
Dividende8 0,00 0,00 1,00 1,00 0,00 1,00 1,10
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

WKN Kurs in € Einschätzung Börsenwert in Mio. €
766710 43,000 Kaufen 755,26
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,54 25,19 0,69 -42,03
1,41 13,46 0,87 8,53
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
1,00 1,10 2,56 19.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
29.04.2021 28.07.2021 28.10.2021 18.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-6,87% -2,43% 3,99% 10,97%
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Elektrotechnik , 766710 , VOS , XETR:VOS