VOSSLOH: Vossloh AG will be transformed into a ‘new rail infrastructure company’ by 2017, the company said when presenting its results for 2014.
The year’s financial performance was impacted by restructuring and realignment. ‘We took forward-looking, far-reaching decisions in 2014’, said Chairman Hans M Schabert. ‘In 2015, we are working intensively on achieving operational improvements. At the same time, we are also implementing our new strategy.’
A ‘transformation process’ initiated on January 1 has put the group’s focus on rail infrastructure activities in markets where it is, or can become, market leader. These are defined as Western Europe, China, the USA and Russia, with other markets to be approached on a project basis. Three corporate divisions cover Core Components (Fastening Systems), Customised Modules (Switch Systems) and Lifecycle Solutions (Rail Services).
The rolling stock activities form the fourth unit, the Transportation division, which Vossloh considers non-core and intends to sell, totally or in parts, or transfer to an outside partner by 2017.
Vossloh AG no longer acts as a holding company, but instead forms a top level of management with all divisions presented as ‘one Vossloh’.
| Vossloh AG results | ||
| 2013 | 2014 | |
| Orders, €m | 1 472·5 | 1 367·7 |
| Backlog, €m | 1 707·1 | 1,750·9 |
| Sales, €m | 1 300·7 | 1 323·9 |
| EBIT, €m | 52·7 | -171·6 |
| EBIT margin, % | 4·1 | -13·0 |
| ROCE, % | 5·9 | -21.2 |
| Net income, €m | 23.6 | -205·7 |
| Earnings per share, € | 1·25 | -16·46 |
