Vossloh AGM: Looking back on a successful 2020 fiscal year, strong start into the current fiscal year
Today, the Vossloh AG ordinary Annual General Meeting took place virtually in Düsseldorf. The Executive Board’s speeches first looked back on a successful 2020. Oliver Schuster, Chief Executive Officer of Vossloh AG, explains the main reasons for this: “Passenger and freight rail services are a critical part of our infrastructure. Therefore, keeping them going is particularly important in times of crisis. And that, in terms of rail track, is exactly our business. With our products and services, we make a significant contribution to the functioning of the rail network.” Schuster continues: “In light of the challenges of the COVID-19 pandemic, we could not have implemented our 2019 Group-wide performance program at a better time. Not least because of this we have been able to come through the crisis in a financially stable manner.” This also applies in view of the extremely successful start to 2021. Dr. Thomas Triska, Chief Financial Officer of Vossloh AG: “The revenue and operational profitability of the Vossloh Group have grown significantly in the first three months of 2021 compared to the same period of the previous year. It is Vossloh’s best operating result for the first quarter in ten years.”
The increasing amount of traffic in the next few years means Vossloh can look confidently to the future. “Programs to promote rail-based mobility on an unprecedented scale have been launched worldwide in recent months. Over the coming decades, the importance of rail-based mobility will be hard to overestimate in terms of its contribution to meeting a steadily growing demand for transportation and achieving climate targets,” Schuster explains in his speech. In relation to the strategic approach of Vossloh, he continues: “Our revised and refined Group strategy is based on three main pillars: strengthening our existing product and service business, expanding the latter to include digital-based, smart maintenance solutions, and a series of measures relating to the way we would like to work in the future and what we attach particular importance to in this respect. The topic of sustainability plays a particularly central role here, which we now have embedded in our corporate DNA more firmly than ever before.”
At today’s Annual General Meeting, all the items on the agenda proposed by the Executive Board and Supervisory Board were approved by large majorities. This includes the proposal to pay a dividend of €1.00 per share. In total, around 74 percent of the share capital was represented at Vossloh AG’s Annual General Meeting.
The full speeches are available online at Annual General Meeting | Vossloh AG, along with the presentation and voting results.
Werdohl, May 19, 2021
Contact information for the media:
Gundolf Moritz (Mirnock Consulting)
Phone: (+49-23 92) 52-608
Contact information for investors:
Dr. Daniel Gavranovic
Phone: (+49-23 92) 52-609
Vossloh is a globally active technology group dedicated for over 135 years to quality, safety, reliability, innovation and customer orientation. Vossloh’s comprehensive range of rail track-related products and services make the company a leader in the global market in this area. Vossloh provides a uniquely wide range of products and services: rail fastening systems, concrete ties, switch systems and crossings as well as innovative and increasingly digital-based services for the entire lifecycle of rails and turnouts. Vossloh uses its extensive understanding of rail infrastructure to meet the key customer need of track availability.
Vossloh products are in use in more than 85 countries. With roughly 80 Group companies in around 30 countries and over 35 production sites, Vossloh is a global company with a local presence. Vossloh is committed to sustainable corporate management and climate protection and makes an important contribution to sustainable mobility of passengers and goods with its products and services.
The Group activities are organized into the three divisions of Core Components, Customized Modules and Lifecycle Solutions. In the 2020 fiscal year, Vossloh achieved sales of about €870 million with approximately 3,500 employees.