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Vossloh AG

ots Ad hoc-Service: Vossloh AG <DE0007667107>

Werdohl (ots Ad hoc-Service) -

Ad hoc-announcement. The sender is solely
responsible for the contents of this announcement.
Vossloh Group: Double-digit growth rates for Q1/2001 sales and
earnings
In the 1st quarter of 2001, the Vossloh Group generated net sales
of 219.8 million Euro, thus exceeding the year-earlier level of 187.1
million Euro by 17.5%. At 18.6 million Euro, earnings before interest
and taxes (EBIT) were 10.6% above Q1/2000. Group earnings per share
for Q1/2001 rose by 26.1% from 0.46 Euro to 0.58 Euro. The Group's
headcount at March 31, 2001, shrank to 5,475 (from 5,655).
Net sales by the Railway & Transport division in the first three
months of 2001 totaled 149.7 million Euro, like-for-like up 31.2%
from 114.1 million Euro. The 3.3% increase in EBIT to 13.2 million
Euro (up from 12.8 million Euro) was disproportionate since the
Q1/2000 EBIT had included the gain from the sale of a nonessential
property.
At 70.0 million Euro, Q1/2001 sales by the Lighting division
approximated the year-earlier level of 72.9 million Euro. Due to the
restructuring in 2000, EBIT was stepped up 22.6% from 6.3 million
Euro as of March 31, 2000, to 7.7 million Euro at first quarter-end
2001.
For all of fiscal 2001, the Executive Board expects to achieve the
budgeted Group sales boost from 854.4 million Euro to 990 million
Euro. EBT of 86 million Euro would then outweigh the year-earlier of
77.9 million Euro by about 10%. Group earnings are expected to
surpass the prior-year 27.8 million Euro by 22% to reach 34 million
Euro, Group EpS mounting from 1.93 Euro to 2.35 Euro for 2001.
The original 2001 budget figures may be affected by a deal that
has progressed fairly far and provides that Hegenscheidt-MFD GmbH and
Maschinenfabrik Niles Simmons GmbH be contributed into a joint
venture to be held by Vossloh at 20% and the Naumann family as sole
owner of Niles Simmons at 80%. This transaction, if finalized, would
reduce the Group sales budgeted for 2001 by 67 million Euro and Group
earnings by 4 million Euro. Discounting the one-time expenses, the
Group's indicators and risk structures would clearly improve.
Especially the EBIT margin and the return on capital employed (ROCE)
would already in 2002 be further upgraded by this transaction alone.
WKN: 766 710; Index: MDAX Listed: Amtlicher Handel in Frankfurt
und Düsseldorf; Freiverkehr in Berlin, Bremen, Hamburg, Hannover,
München und Stuttgart
End
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Original-Content von: Vossloh AG, übermittelt durch news aktuell