WERDOHL (dpa-AFX) - Rail and transport technology group Vossloh is becoming more optimistic for 2023 thanks to buoyant demand. According to a statement on Thursday, the company expects sales this year of between €1.125 billion and €1.2 billion, up from €1.05 billion a year earlier. Previously, Vossloh had held out the prospect of €1.05 billion to €1.15 billion. Earnings before interest and taxes in 2023 are now expected to come in at €87 million to €94 million (previously €79 million to €88 million), up from a good €78 million a year earlier. The stock, which only in May returned to the second-tier stock index SDax, recently rose by more than three percent.

"After Vossloh had already grown by eleven percent in terms of sales in the previous year, there are now increasing signs of double-digit growth in 2023 as well," said CEO Oliver Schuster according to the statement.

The company justified the more confident outlook with a surprisingly good development in the Core Components segment around series products for rail infrastructure, such as rail fastening systems. However, reference was also made to the Customized Modules segment with tailor-made solutions. In addition, the product mix in Core Components was more profitable./mis/jha/