Negotiations on the sale of Vossloh’s Electrical Systems business unit, which is not part of the group’s core business, are becoming more substantive. The Vossloh Executive Board assumes that a contract will, in all likelihood, be signed in the coming months. Vossloh currently expects a net cash inflow in the low to middle double-digit million range from the sale of the business unit. For this reason, the business unit will be presented as “discontinued operations” as of 30 September 2016.
Group sales from continuing operations – not including Vossloh Electrical Systems – were EUR 664.1 million in the first nine months of 2016. The reasons for the 4.3% decrease were, for the most part, with a view to the core business, ongoing weakness in demand in the USA as well as adverse exchange rate developments as compared to the prior year period. In addition, in the Transportation division and thus outside the core business, the number of locomotives delivered was below the corresponding figure from the previous year. In Asia and in Northern Europe, on the other hand, the Group recorded substantial sales growth.
Orders received in the Vossloh Group (in the new reporting structure) from January through September 2016 were EUR 830.3 million. The Transportation division which, in the new reporting structure, consists of only the Locomotives business unit, generated sales revenues of EUR 52.9 million in the first nine months of 2016.
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