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Investing.com -- German rail infrastructure company Vossloh AG (ETR:VOS) on Thursday reported third-quarter results slightly ahead of consensus, showing the start of anticipated second-half acceleration with sales up 9% year-over-year to €326 million.
The growth was primarily driven by the ramp-up of Core Components sales into China, with this segment growing 40% compared to the same period last year. Group EBIT increased by 13% year-over-year to €31.3 million, with margins improving to 9.6% from 9.2% in the prior year.
By segment, Core Components revenue reached €133 million, up 23% year-over-year, while Customized Modules grew 7% to €145 million. The Lifecycle Solutions segment saw a 3% decline to €58 million, affected by lagging call-offs from Germany.
Order intake showed strong momentum at €325 million, representing a 27% increase year-over-year and exceeding consensus expectations by 7%. The company’s order backlog remained stable at €856 million.
Vossloh confirmed its full-year guidance, which implies approximately 8% organic sales growth in the fourth quarter to meet the mid-point of guidance. This target appears achievable given the ongoing execution ramp in China and strong order book visibility.
The company’s operating cash flow improved to €61.5 million from €50.9 million in the previous year, while free cash flow reached €44.5 million compared to €30.5 million a year earlier.
Analysts note that consensus earnings estimates are at the lower end of company guidance of €118 million, reflecting the delayed closing of the Sateba acquisition and fewer contributions expected in the seasonally weaker fourth quarter.
Purchase price allocation effects from this acquisition are expected to impact group profitability over the next 24 months, including the fourth quarter of 2025.
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