Following the 2005 income burdens, Vossloh is planning record earnings
At its meeting today, Vossloh AG’s Supervisory Board gave the go-ahead for the fiscal 2005 budget as submitted by the Executive Board. Following a highly successful fiscal 2004 set to close with record results despite the present malaise manifest throughout the rail industry, the Group is budgeting for fiscal 2005 another increase in sales by around 19 percent to just under €1.1 billion which includes an expected €138 million input by the Valencia-based locomotive plant acquired from Alstom and to be contributed to Vossloh España.Due to the incisive changes in corporate structures and processes and also as a consequence of the sharp surge in steel prices, Vossloh expects EBIT in 2005 to drop some 11 percent to about €93 million. By 2006, the first fruits of the structural improvement will already be reaped, resulting in another record-breaking year by 2007.
At tomorrow’s press conference in Frankfurt/Main, Vossloh AG’s Executive Board will report in detail on the fiscal year now drawing to a close and on the budget for 2005.
Werdohl, December 8, 2004
Vossloh AG
The Executive Board