Quirin Privatbank Reiterates Buy Rating for Vossloh AG

Vossloh AG has received a Buy rating from Quirin Privatbank following its strong Q2 2025 performance. The company's sales increased by 4.8% year-on-year and 3.3% quarter-on-quarter. However, order intake fell by 6.1% yoy and 10.0% qoq, pushing the book-to-bill ratio slightly below the crucial 1.0x. Despite this, management remains optimistic about securing new orders in the upcoming months.

The company's net income margin improved by 18 basis points yoy, although it slipped by 43 basis points qoq. The net income for the trailing twelve months reached EUR 57.7 million, slightly behind the forecast of EUR 70.2 million for fiscal year 2025. However, a robust second half is expected to bridge this gap.

Vossloh's durable order book and strategic growth efforts are key to its potential for sustained profitability and shareholder value enhancement. The target price remains EUR 102.