Vossloh share indicators

Dividend rising to €2.00 plus €1.00 superdividend
As proposed by Vossloh AG’s Executive and Supervisory Boards, the annual general meeting resolved on May 20, 2009, to pay out a significantly higher cash dividend of €2.00 per share, plus a €1.00 superdividend. Related to the 2008 closing price of Vossloh stock of €80.10 €79.49, the dividend yield is 3.8 percent. Excluding the superdividend, the payout increased by 17.6 percent. A total of some €40 million will be distributed (up from €25.2 million). The treasury shares repurchased between October 2008 and March 2009 do not rank for dividend. Vossloh management is thus reaffirming its dividend policy based on the principle of continuity and earnings growth.

Vossloh is pursuing the goal of achieving a sustainable improvement in earnings per share (EpS) and commensurate dividend payouts. The Group's strategy is also focused on deploying the earnings above all for further corporate expansion in the interests of value generation. In fiscal 2008, this objective was successfully attained with a sales increase of 18+ percent and an EpS surge from €4.83 to a total €9.48 (€6.30 + €3.18).

		2008	2007	2006	2005	2004
Earnings per share (EpS)	€	9.48	4.83	1.38	3.07	3.91
Cash flow per share	€	10.75	5.43	12.68	3.71	2.25
Dividend per share	€	2.00 + 1.00	1.70	1.30	1.30	1.30
Total dividend payout	€ mill.	41.7	25.2	19.2	19.2	19.0
Book value per share (excl. minority interests)	€	32.36	28.51	24.55	24.09	22.28
Annual average number of shares outstanding	1,000	14,703	14,768	14,735	14,688	14,605
Number of shares outstanding at year-end	1,000	13,889	14,796	14,736	14,735	14,606
Stock price	€	79.49	80.10	57.14	41.10	36.35
Closing market capitalization	€ mill.	1,104.0	1,185.1	842.0	605.6	530.9
Annual high/low	€	99.49/45.41	94.47/56.21	59.20/34.90	48.58/36.11	47.68/27.45
Price-earnings ratio (PER)		8.4	16.6	41.4	13.4	9.3
Price-cash flow ratio		7.4	14.7	4.5	11.1	16.1
Trading volume (shares)	1,000	27,913	24,040	15,760	10,453	10,828
Average trading volume (shares) per day	1,000	109.9	95.4	61.8	40.5	42.1

Calculation of earnings per share (EpS)

		2008	2007
Weighted average number of common shares	shares	14,795,828	14,776,256
Weighted number of repurchased shares	shares	(92,676)	(8,687)
Weighted average shares outstanding	shares	14,703,152	14,767,569
Dilutive effects of LTIP/ESOP options	shares	52	14,715
Diluted weighted average shares issued	shares	14,703,204	14,782,284
Group earnings	€ mill.	139.4	71.4
Basic (undiluted) EpS	€	9.48	4.83
thereof from continuing operations	€	6.30	4.26
thereof from discontinued operations	€	3.18	0.57
Fully diluted EpS	€	9.48	4.83
thereof from continuing operations	€	6.30	4.26
thereof from discontinued operations	€	3.18	0.57