Vossloh AG

VOS

Equity

ISIN DE0007667107 / Valor 352791

Xetra (2025-12-19)

EUR 76.10-0.13%

Vossloh AG
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About company

Vossloh AG is a leading global rail technology company, with rail infrastructure as its core business. The company offers integrated solutions for rail networks worldwide, contributing to safe, sustainable, and environmentally friendly mobility for both passengers and goods. Vossloh specializes in signalling systems, turnout technology, rail fastening systems, and the manufacturing of pre-stressed concrete railroad ties and turnout ties. The company also provides logistics services for the delivery of long rails and switch systems to track construction sites, as well as welding services. Vossloh's focus on innovation and customer satisfaction ensures the development of technical standards and customized solutions for various applications and climate zones in the rail industry.

Summarized from source with an LLMView SourceSector: Industrials

Sales and profitability (Q3 2025)

Q3 sales: €325.9m (+9.1% y/y). 9M sales: €908.5m (+5.7% y/y). 9M EBIT: €76.2m (vs €77.1m prior year). Q3 EBIT contribution: €31.3m, implying about a 9.6% EBIT margin for the quarter.

Orders and backlog

Orders received in Q3 2025 increased 26.8% vs Q3 2024 to €324.8m. 9M orders were €948.5m (below 2024’s record €1,025.7m). Book‑to‑bill after nine months: 1.04. Order backlog at 30 Sep 2025: €856.3m, remaining at a high level.

Cash flow, net income and capex

Q3 free cash flow was strong at +€44.4m (Q3 2024: €38.9m), but free cash flow after 9 months was only €0.2m. Net income 9M: €51.7m (down from €56.6m), EPS €2.12 (vs €2.70) due to higher interest and more shares outstanding. Capital expenditure increased to €56.1m (1‑9/2025), driven by factories, under‑sleeper pad production and an ERP rollout.

Balance sheet and financing impact of Sateba

Equity rose to €776.8m with an equity ratio of 50.9%. Cash and cash equivalents at 30 Sep 2025: €109.9m. Reported net financial debt increased (reflecting Sateba financing) to about €186.5m at 30 Sep 2025. The €450m Sateba acquisition is financed by a €200m long‑term loan plus bridge financing; refinancing via Schuldschein is planned and net debt/EBITDA is expected below 2.75x by year‑end 2025.

Sateba acquisition — immediate effects

Acquisition closed Oct 1, 2025. Sateba projected to generate €330–350m sales in 2025 and ~1,000 employees across 19 sites in 10 countries. Management expects significant PPA (purchase price allocation) charges that will have a materially negative impact on reported EBIT over the first 24 months; integration and synergy realization are underway.

2025 outlook (post‑acquisition, pre‑PPA)

Group guidance for 2025 (before PPA effects): sales €1.33–1.40bn and EBIT €116–126m, with an expected group EBIT margin around 9% (±0.5 pp). Value added cannot be reliably forecast yet because PPA details are pending; before PPA effects the company expected Value added roughly in the prior guidance range.

Division highlights

Customized Modules: record 9M sales (€427.1m) and EBIT ahead of prior year. Core Components: sales up, profitability remains above 10% but below very high prior levels. Lifecycle Solutions: sales up (new record after 9M) but EBIT below the exceptional prior‑year level. Fastening Systems: strong sales growth (notably Africa, Eastern Europe). Tie Technologies: sales below prior year; management expects Sateba to boost full‑year figures.

Summarized from source with an LLMView Source

Key figures

78.4%1Y

93.9%3Y

82.5%5Y

Performance

39.5%1Y

28.2%3Y

28.3%5Y

Volatility