October 29, 2015

Devaluation of Brazilian Real cuts CAF 3Q profits

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CAF is supplying a fleet of diesel long-distance trains to Sauid Railway Company (SAR) CAF is supplying a fleet of diesel long-distance trains to Sauid Railway Company (SAR)

CAF's third-quarter profits for the period ending September 30 have been adversely affected by unfavourable exchange rate fluctuations and particularly the devaluation of the Brazilian Real against the euro.


CAF is currently supplying a fleet of EMUs to São Paulo's commuter rail operator CPTM, while exports account for 81.5% of turnover. The exchange rate problems caused turnover for the third quarter to fall by 11.5% to €935.4m. Although CAF's third-quarter Ebitda margin increased by 10.4% to €137.9m, pre-tax profit for the year to date dropped by 19.2% to €51.4m and net profit fell by 26.7% to €36.8m.

CAF's train order backlog on September 30 stood at just over €5bn, which is 8.6% more than a year ago.

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