Vossloh AG : Building a track record deserves a re-rating
>A record year in 2023, after a record year already in 2022 - Vossloh yesterday morning reported its FY 2023 results (see our First Take) which were broadly in line with expectations. Note that the group had lifted its full-year guidance twice over the course of 2023.The order intake stood at € 1,217m (slight 2% dip vs 2022), with an excellent performance from Lifecycle Solutions (Germany, the Netherlands). Sales rose by 16% to € 1,214m (consensus at € 1,208...Vossloh is a holding company. Through its subsidiaries, Co. in engaged in the rail technology markets. Co.'s core businesses comprise rail infrastructure products and services, rail vehicles, and components for rail vehicles and buses. Co. conducts its operations through two divisions: Rail Infrastructure and Transportation. The Rail Infrastructure division provides products and services related to the infrastructure through three business units: Fastening Systems, Switch Systems, and Rail Services. The Transportation division consists of the operations related to rail vehicles and vehicle systems/components and has two business units: Transportation Systems and Electrical Systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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