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Tuesday, June 25, 2024

German rail industry grows by almost 25%

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The German rail industry recorded sales of €12.5 billion in 2014, an increase of almost a quarter, but there is still reason for concern.

The German Railway Industry Association (VDB) has said that sales of rail vehicles and components in Germany increased by 44 per cent to €4.9 billion and internationally by around 25 per cent to €4.6 billion.

Higher revenues were coupled with a 4 per cent increase in the workforce, giving the German rail industry 52,300 employees.

Growth in the domestic market has been attributed to a simplification in the approvals process allowing companies to work through order backlogs.

Demand for rail vehicles and equipment fell, however, by 36 per cent to €9.5 billion. President of the VDB Martin Lange said 2014 had been a “poor year” for large tenders.

Lange also attributed the fall in new business to EU sanctions imposed on Russia.

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