The “Giruno” is the flagship of the Swiss rail manufacturer Stadler Rail. Image: KEYSTONE
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Stadler Rail is booming like never before – but there is a problem for the Spuhler Group
The train manufacturer Stadler Rail increased significantly last year. Sales climbed by over 60 percent to around CHF 3.2 billion, as the Thurgau company announced on Friday.
A year ago, Stadler had only implemented CHF 2 billion. However, one did not meet one’s own expectations. The reason for this are project postponements, especially in England, it was said. Therefore, sales are lower than expected, which also affects earnings.
In 2019, Stadler achieved order intake of over 5 billion Swiss francs, of which more than 800 million in the service area. The order backlog also grew to a record high.
The service area went very well, where expectations were exceeded. New technologies could have been successfully launched much earlier than expected. These include digitization projects, new drive technologies with batteries and hydrogen as well as a completely newly developed tram model.
Growth costs margin
However, the investments in new products including sales costs, the additional costs in individual orders, especially in the East Anglia project, the increase in staff and the exchange rate distortions in the Norwegian and Swedish krona, did not meet sales, operating profit (EBIT) and EBIT margin.
Stadler boss Peter Spuhler. Image: KEYSTONE
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At around 6 percent, the EBIT margin was below the value of the previous year due to postponements and additional costs in individual orders. As a result of the record-high order intake, EBIT was also burdened by higher than originally expected sales expenses.
The number of employees rose by 2,000 across the Group last year. That is a quarter more than in the previous year. The training of new employees in particular has led to additional burdens on some orders.
The complete, final and audited financial figures for the 2019 financial year will be published on March 5, 2020. (SDA / AWP)
