Revenue ReboundA 22.8% revenue rebound in 2024 indicates recovering demand for rolling-stock components and stronger series-production program activity. Sustained top-line growth helps absorb fixed costs, supports capacity utilization, and provides a foundation to restore operating profitability over multiple quarters.
Healthy Gross MarginsMid-40% gross margins reflect structurally productive manufacturing and value-added engineering content in rail subsystems. Stable margins provide a durable buffer to cover SG&A and R&D, enabling margin recovery as volumes scale without requiring immediate price increases or risky cost cutting.
Moderate LeverageA low debt-to-equity ratio (~0.29) and a sizeable equity base give financial flexibility for capex, working-capital needs, and contract fulfilment typical in rail manufacturing. Moderate leverage reduces default risk and supports strategic investment even if recovery takes multiple quarters.