Vossloh AG

VOS

Equity

ISIN DE0007667107 / Valor 352791

Xetra (2026-03-25)

EUR 72.20+0.71%

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

Group sales: Q3 sales +9.1% y/y to €325.9m; 9M sales €908.5m (+5.7%). EBIT after 9M essentially unchanged at €76.2m (vs. €77.1m). EBITDA after 9M improved to €121.8m (from €116.5m). Net income fell to €51.7m and basic EPS to €2.12 (9M 2024: €2.70) due to higher interest and more shares outstanding.

Cash flow and balance sheet

Free cash flow: Q3 positive at +€44.4m (Q3 2024: €38.9m); free cash flow after 9M only €0.2m (prior year €34.2m). Capex increased to €56.1m (1‑9/2025) as investments continue (factory builds, ERP, production sites). Equity rose to €776.8m (equity ratio 50.9%). Net financial debt (excl. leases) was €186.5m at 9/30/2025, influenced by Sateba financing.

Orders and backlog

Orders received after nine months were €948.5m (below the record prior‑year €1,025.7m), with a book‑to‑bill of 1.04 after nine months. Q3 orders improved (disclosed Q3 recovery vs prior year); order backlog remained high at €856.3m (9/30/2025).

Divisional snapshot (1‑9/2025)

Core Components: sales up to €347.1m but EBIT down (EBIT €38.9m). Customized Modules: record sales €427.1m and higher EBIT (EBIT €42.8m). Lifecycle Solutions: sales up to €159.5m but EBIT below a strong prior‑year level. Fastening Systems showed strong sales growth in several regions; Tie Technologies missed prior year sales and is expected to be boosted by Sateba.

Sateba acquisition and guidance

Sateba acquisition closed Oct 1, 2025 (expected 2025 sales contribution €330–350m). Acquisition financed by €200m long‑term loan plus bridge financing (total transaction €450m); refinancing via Schuldschein planned. Vossloh expects net debt/EBITDA <2.75x by year‑end. Guidance for 2025 (post‑close): Group sales €1.33–1.40bn and EBIT €116–126m (before PPA effects). Management warns significant negative PPA (purchase price allocation) effects on EBIT in the first 24 months after closing.

Key caveats and near‑term drivers

Near term drivers: Sateba integration and realization of synergies, Q4 project mix, and regional trends (Northern Europe, China, Africa). Risks: PPA and integration costs, translation effects, tariffs, and higher interest costs that already weighed on 9M earnings. Management notes the guidance excludes PPA effects and that value‑added guidance is currently unreliable until PPA is finalized.

Summarized from source with an LLMView Source

Key figures

13.1%1Y

73.7%3Y

70.4%5Y

Performance

40.2%1Y

28.5%3Y

28.2%5Y

Volatility