11/1/2012 2:15:00 AM
NEWS BRIEFS
Vossloh Group Reports Fastener Systems Revival
Vossloh Group reported fastening systems sales jumped 38.4% to EUR 86.2 million in Q3, boosted by a revival in rail fastener shipments to China in June.
“Now that shipments of rail fasteners in China were resumed and resulted in initial revenue in June, sales by Vossloh Fastening Systems by the end of Q3/2012 regained the year-earlier volume,” the company announced.
Overall third-quarter sales gained 6% to EUR 320.2 million, with EBITDA up 21% to EUR 39.8 million and net earnings increasing 20.5% to EUR 9.4 million.
Nine-month sales by Vossloh Fastening Systems totaled EUR 200.5 million, virtually at the year-earlier volume of 200.8 million.
The Fastening Systems business unit was awarded new orders worth €216.2 million in the 9-month period (down from €270.0 million). Substantial new business was booked in Germany, France, Kazakhstan, Morocco, and Thailand. At September 30, 2012, the business unit’s order backlog was €281.9 million (up from €275.2 million).
Overall nine-month sales improved 3.2% to EUR 891.5 million, with EBITDA dropping 6% to EUR 90.8 million and net earnings dipping 20% to EUR 31.4 million.
For over 100 years Vossloh Fastening Systems has manufactured rail fastening systems which are used by railway and local transport operators worldwide. The product range includes fastenings for ballasted tracks and slab tracks for all load profiles from heavy-load to high-speed. ©2012 GlobalFastenerNews.com
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