Financial Strategy

VTG's business model is capital intensive. Investments in the very long-lasting wagon fleet (useful life > 40 year) to a large extent are financed by means of debt capital. This is why a balanced financing structure is of utmost importance.
VTG spreads the maturities of its liabilities across a longer period of time. At the same time, we make use of a variety of financing instruments, like e.g. bank loans, project financing, promissory note loans as well as a hybrid bond.

Financial instruments1

Financial liabilities (in € Mio.)
Syndicated loans 873
Private placements 669
Project financing 101
Shareholder loans 70
Bank loans 47
Others 7
Total financial liabilities 1,766
Hybrid bond (equity) 259

Maturity structure2

1 31.12.2015
2 30.09.2016