Vossloh AG

05/10/2021 | Press release | Archived content

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.