Overall, net income fell by 51.4% to €1.6m despite an 11.7% increase in sales to €294.2m and a record order backlog which stood at €1.87bn on March 31.

Sales in Vossloh's transportation division, which includes rail vehicles and components, increased by 27.3% to €115.3m in the first quarter compared with same period in 2013. However, the very high cost of certifying new vehicles in Europe turned a profit of €1m in the first quarter of 2013 into a loss of €4.7m this year.

First quarter sales for Vossloh's rail infrastructure division rose by 3.5% to €178.9m, while Ebit increased by 13.5% to €15.1m.