Stadler Rail shares fell on the Swiss Stock Exchange on Thursday morning. Impacted in particular by the recent bad weather on its sites and those of its subcontractors in Valence, Valais and Lower Austria, the management of the Thurgau company has revised its ambitions for 2024, suspending those of the next two years to see clearer.
The rolling stock manufacturer blames the bad weather which has recently hit its sites or those of its subcontractors in the Valencia region, in Valais and Lower Austria, as well as an old appeal of its eternal rival Alstom on a Berlin call for tenders.
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At mid-morning, the registered Stadler Rail fell 10% to 20.10 francs, the bottom of an SPI down 0.23%.
The manufacturer considers that it will no longer be able to achieve the ambitioned turnover of 3.5 to 3.7 billion francs this year. The operating margin (Ebit) must therefore further decline by a maximum of two percentage points, compared to the 5.1% recorded last year. If part of the shortfall will resurface next year, Stadler admits he does not know to what extent.
Zero visibility
The impact of these setbacks on the group’s performance over the next two years remains at this incalculable stage, Stadler resolves to cross out its medium-term roadmap as well. The establishment of the budget for next year and the development of a new roadmap for 2027 are scheduled for the first quarter of 2025.
Boasting an unprecedented order book in the company’s history, management assures that it has taken all the necessary measures to make up for lost time and shortfalls caused by bad weather.
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