Germany's Vossloh H1 revenue rises 21.9%, net income falls

Vossloh AG

23/07/2026 06:38

    

    Overview
  
Germany rail infrastructure firm's H1 revenue grew 21.9% yr/yr, driven by Sateba acquisition
Net income and EPS fell sharply due to PPA effects and lower Customized Modules contribution
Order backlog hit record €1.14 bln; company raised sales outlook but trimmed earnings guidance

    

    Outlook
  
Vossloh expects 2026 sales revenue of €1.51 bln to €1.61 bln, down from prior guidance
Company sees 2026 EBITDA of €195 mln to €210 mln and EBIT of €100 mln to €110 mln
Vossloh expects significant organic growth and improved EBIT in 2027 as headwinds ease

    

    Result Drivers
  
SATEBA ACQUISITION - Revenue and order growth were mainly driven by the first-time consolidation of VTT Europe (Sateba)
CUSTOMIZED MODULES WEAKNESS - Profitability was weighed down by a lower earnings contribution from the Customized Modules division, due to a changed project mix and higher logistics costs
PPA EFFECTS - Group EBIT was reduced by €9.1 mln of PPA effects related to the Sateba acquisition

    
Company press release: ID:nEQ519T7va

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
H1 Revenue
 
EUR 710.10 mln
 
H1 EPS
 
EUR 0.15
 
H1 Net Income
 
EUR 13.50 mln
 
H1 EBIT
 
EUR 32.40 mln
 
H1 EBITDA
 
EUR 80.90 mln
 
H1 EBITDA Margin
 
11.40%
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"
Wall Street's median 12-month price target for Vossloh AG is €78.00, about 31.8% above its July 22 closing price of €59.20
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago

    

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)