DGAP-Adhoc: Vossloh AG: Vossloh again adjusts profit forecast

Vossloh AG  / Key word(s): Profit Warning

29.09.2011 10:31

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Vossloh again adjusts profit forecast

- China business remains weak in the second half of 2011

- Lower contract awarding retards business in Southern and Northern
    Europe

- Sales of around EUR1.2 billion and an EBIT of EUR90-EUR100 million
    expected for 2011

- Sales and earnings to resurge in 2012

Werdohl, September 29, 2011. The Vossloh Group is again adjusting its sales
and earnings expectations. Given a series of adverse factors which have
compounded in the summer quarter of 2011, the Group now predicts for this
year sales of around EUR1.2 billion and an EBIT of between EUR90 million
and EUR100 million. The preceding forecast had been EUR1.25 billion and
EUR120-EUR130 million, respectively.

Low shipments for China's high-speed rail lines are one major reason for
the marked change in forecast for 2011. From today's vantage point these
deliveries will total only just under EUR50 million. Irrespective of the
ongoing delay in construction activity in China, Vossloh this September won
a tender worth some EUR35 million for the Hefei-Fuzhou line, thus raising
the value of the Chinese order backlog to around EUR200 million.

Among the factors impacting on Vossloh's business this year are, alongside
the sales shortfall in Russia and the suspension of work on the project
originally planned for Libya, a growing delay and hence for 2011 a sharp
reduction in orders placed in Southern Europe as well as in Scandinavia,
with the consequence that especially the Rail Infrastructure division is
having to contend with growing price pressure.

As to 2012 and compared with 2011, Vossloh is expecting both sales and EBIT
to rise.


29.09.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Vossloh AG
              Vosslohstr. 4
              58791 Werdohl
              Germany
Phone:        +49 (0)2392 52 - 359
Fax:          +49 (0)2392 52 - 219
E-mail:       investor.relations@ag.vossloh.com
Internet:     www.vossloh.com
ISIN:         DE0007667107
WKN:          766710
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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