Vossloh AG Faces Mixed Q3 Results, Maintains 'Buy' Rating

Vossloh AG recently reported its Q3 2026 results, revealing a 15.6% year-on-year increase in revenue, reaching EUR 376.6 million. However, EBIT saw a 22.8% decline compared to the previous year, standing at EUR 24.2 million, while the EBITDA remained steady at EUR 47.6 million. The book-to-bill ratio of 1.05x indicates reasonable revenue visibility, yet strong Q4 performance is needed to meet full-year targets.

For Q4 2026, Vossloh aims for revenue of approximately EUR 423.2 million, an EBITDA of EUR 66.5 million, and an EBIT of EUR 43.4 million. Sateba, a key acquisition, showed a sales decline of about 12% year-on-year in the first nine months of 2026. Despite this, earnings are expected to accelerate with new project realizations and increased customer orders.

The 2026 guidance specifies mid-range sales between EUR 1.51 and 1.61 billion, with EBITDA and EBIT projected at the lower end of their forecasted ranges. Quirin Privatbank maintains a 'Buy' rating for Vossloh, with a slightly reduced target price of EUR 76, driven by promising growth prospects.