Stadler Rail AG : 2024, another transition year
>Sales growth and EBIT margin below forecasts in 2023 - Stadler reported yesterday morning 2023 earnings 11% below forecasts for EBIT (see our first take). Order intake amounted to CHF 6.8bn, in line with the consensus. Sales were down 4% (-1% excluding forex effects) at CHF 3.6bn, 5% below forecasts. The EBIT margin was 5.1% (-40bp) whereas the consensus had anticipated 5.4%. The group generated FCF of CHF 749m (vs CHF 396m in 2022).For 2024, the group is tar...Stadler Rail AG is a Switzerland-based company engaged in design and manufacturing of rail vehicles. The Company's product portfolio includes suburban and regional transport trains, light rail vehicles, trams, high-speed and intercity trains, city transport vehicles, locomotives, passenger trains and tailor-made vehicles. The Company serves customers worldwide.
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