Earnings before interest and taxes (Ebit) was €12.5m, compared with €21m in the third quarter of 2017. The group’s Ebit margin was 6.1%, compared with 9.1%. Vossloh says that along with sales development in China, negative currency translation effects were also responsible for the sales decline compared to the previous year. Ebit in the previous year was also significantly boosted by an impairment loss reversal in the customised modules division.

Sales for the first nine months were €623.2m compared with €683.2m in 2017, while Ebit declined significantly in the three quarters from €56.6m to €35.2m. The Ebit margin totalled 5.7%, compared with 8.3%.

Vossloh says orders worth a total of €684m were received in the first nine months, a 4.8% increase on the same period last year.