- Pressemitteilung BoxID 66573
Sale of Vossloh Infrastructure Services closed
Transaction closed as planned following cartel authority approval
The fixed total purchase price for all of the shares in Vossloh Infrastructure Services S.A. and for the latter's subsidiaries is €150 million. In addition, the acquirer takes over VIS's financial liabilities of €35 million. Vossloh Infrastructure Services' business is the construction and maintenance of tracks and the installation of their overhead lines. In fiscal 2007, its some 1,500 employees generated sales of a good €210 million.
To facilitate comparability with the pending 3Q figures and those for all of 2008, Vossloh has pro forma restated its figures for fiscal 2007. Excluding Vossloh Infrastructure Services, group sales last year added up to €1,014 .9 million (previously €1,232.1 million) and EBIT amounted to €111.2 million (previously €121.5 million). Sales by the Rail Infrastructure division, which included the transferred business unit, amounted to a restated €545.9 million for 2007 (previously, €763.1 million), EBIT reached €99.8 million (previously €110.1 million).
Excluding Vossloh Infrastructure Services, 9-month (3Q) sales in 2007 totaled €729.6 million for the Group (previously €885.4 million) and €378.9 million for the Rail Infrastructure division alone (previously €534.6 million). 3Q/2007 EBIT for the Group came to €75.1 million (previously €82.7 million), that of Rail Infrastructure to €67.1 million (previously €74.7 million).
On the occasion of the announcement of its H1 figures on July 30, 2008, Vossloh had already revised its budgets for 2008 and 2009. Accordingly, Vossloh expects for 2008 sales of €1,126 million (previously, €1,340 million), a rise of 11 percent versus 2007 (excluding VIS). EBIT is set to add up to around €131 million (previously €142 million), thus 18 percent up over the like-for-like year-earlier figure. In comparable terms, Vossloh is aiming for further growth with ongoing strong profitability for 2009.
Today's Vossloh is a global player in the rail technology markets. The Group focuses on its core businesses of rail infrastructure, rail vehicles, and trolleybuses. Reflecting this focus, Vossloh's two divisions of Rail Infrastructure and Motive Power&Components operate under the roof of MDAX-listed Vossloh AG. Excluding the discontinued Vossloh Infrastructure Services operation, 4,066 employees generated sales of €1,014.9 million and an EBIT of €111.2 million in 2007.
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