In addition, continuing delays to certain Transportation Systems' projects are affecting sales and earnings before interest and tax (Ebit).
Vossloh says Ebit for the full year will remain well below that of 2012. Sales growth for 2013 is forecast at about 5% compared with budgeted growth of 5-10%. As a result, Vossloh expects its Ebit margin for the full year to be 4-5% rather than the 6-8% originally predicted.
The original Ebit forecast was dependent on progress with Transportation Systems projects and the shipment of rail fasteners to China. Transportation Systems produces locomotives in Kiel, Germany, and locomotives and LRVs at its plant in Valencia, Spain.
