The Stadler Rail group has found a new Chief Executive Officer (CEO) in the person of Markus Bernsteiner, at the end of a first half which saw new orders almost double in annual comparison.
However, the net profit was drastically reduced and the profitability targets slashed.
Order intake recorded during the first six months of 2022 amounted to 5.97 billion francs, up 91%. At the end of June, the order book showed 21.73 billion, or 22% better than a year earlier, indicated the Bussnang industrialist on Wednesday in his mid-term report.
Net sales increased by 3.8% to 1.47 billion francs. Despite supply difficulties, the company is proud of the fact that the measures put in place – continuous flow production, optimization of equipment orders, local anchoring of suppliers – have made it possible to avoid any significant postponement of delivery.
The additional costs resulted in higher costs, which did not prevent Stadler from seeing its operating surplus (Ebit) jump by more than a third (+36.9%) to 66.8 million francs, for a related margin of 4.5%, up 100 basis points (bps) over one year.
Foreign exchange effects of 30 million due to the strong appreciation of the franc, in particular once morest the euro, weighed on the financial results, reducing almost to nil the net profit, which stood at 2.4 million, once morest 26.3 million a year earlier.
With the exception of net income, expected at 18.9 million, the copy made by the Thurgovian group is higher than the projections of analysts polled by AWP.
In view of its half-year performance, Stadler’s management has adjusted its objectives. The group is now aiming for full-year order intake of 7.0 billion francs, once morest 4.0-6.0 billion so far. The bar for the Ebit margin, on the other hand, has been reduced to “at least 5%”, following “stable” (2021: 6.2%), and by 2025 to 7-8%, once morest 8-9% previously .
The annual ambitions in terms of income (3.7-4.0 billion) and investment (200 million) have meanwhile been confirmed.
On the heels of his results, Stadler announced the appointment of his new boss. Markus Bernsteiner will succeed Peter Spuhler as of January 1, 2023.
This article has been published automatically. Source: ats/awp