Classification of Quirin Privatbank Kapitalmarktgeschäft to Vossloh AG
| Company Name: |
Vossloh AG |
| ISIN: |
DE0007667107 |
| |
| Reason for the research: |
Update |
| Recommendation: |
BUY |
| from: |
25.07.2025 |
| Target price: |
102 |
| Last rating change: |
|
| Analyst: |
Daniel Kukalj, CIIA, CEFA |
On Track for Profitable Growth
Based on
Vossloh AG's solid Q2 2025 results, high order backlog and confirmed full-year guidance, we maintain our Buy rating and TP of
EUR 102, applied by our ROE/COE valuation approach. The company was able to increase its TTM sales by 4.8% yoy or 3.3% qoq. TTM order intake fell by 6.1% yoy or 10.0% qoq, the TTM book-to-bill ratio fell slightly below the important threshold of 1.0x, but management is confident of generating further orders in the coming months, so in our view the gap to 1.0x should be closed. The TTM net income margin rose by 18 basis points yoy, but fell by 43 basis points qoq. TTM net income amounted to
EUR 57.7m, a gap to our FY 2025 net income forecast (QPe:
EUR 70.2m) of
EUR 12.5m, in the prior year period the gap to FY 2024 was
EUR 10.3m, a stronger second half business should make our estimate realistic. Overall, Vossloh’s resilient order book, solid operating performance, and strategic growth initiatives position the company well for sustained profitable growth and enhanced shareholder value.
You can download the research here:
VOSSLOH_AG_20250725
For additional information visit our website:
https://research.quirinprivatbank.de/
Contact for questions:
Quirin Privatbank AG
Institutionelles ResearchSchillerstraße 20
60313 Frankfurt am Main
research@quirinprivatbank.dehttps://research.quirinprivatbank.de/
