DGAP-News: VTG Aktiengesellschaft: VTG reports increased profits and continues its growth for 2011
VTG Aktiengesellschaft / Key word(s): Final Results
VTG reports increased profits and continues its growth for 2011
- Increased revenue and EBITDA compared to the previous year
- Extended wagon fleet with new acquisitions
- High growth in the Logistics Division
- Positive outlook for 2011
- Proposing 10 percent dividend increase to EUR 0.33 per share
Hamburg, April 13, 2011. VTG Aktiengesellschaft (WKN: VTG999) today announced its figures for the financial year 2010. Compared to the previous year, Group revenues rose by 8.2 percent to EUR 629.4 million. Operating profit (EBITDA) rose by 3.4 percent to EUR 154.4 million, achieving the higher end of previous forecast.
'As an integral component of the value chain in many European industries, and after completing 2009 without being affected by the crisis, VTG was again highly successful in 2010. On our growth path, we succeeded in positively positioning and further developing our business lines in the market', concludes Dr. Heiko Fischer, Chairman of the Board of VTG Aktiengesellschaft. In particular, VTG was able to achieve substantial growth especially in its logistics business, and to concentrate on the implementation of additional strategic goals. 'With our new acquisitions of rail freight cars and wagons for agricultural products, we succeeded in taking a big step towards the diversification of our fleet. We are now positioned for our future and it allows us to offer our customers a broader product portfolio', adds Fischer.
In 2010, Group revenues rose by 8.2 percent to EUR 629.4 million. EBITDA rose by 3.4 percent compared to the previous year, to EUR 154.4 million, returning to the levels achieved in 2008, the Company's record year. Group earnings saw a slight decline by EUR 1.9 million to EUR 20.6 million as a result of higher depreciations. As of December 31, 2010, the Group employed 999 staff, including 709 in Germany and 290 abroad.
Higher Wagon Hire utilization rate
The acquisition of some 1,100 grain wagons as well as the purchase of 720 freight cars from the Rexwal Group further strengthened this segment, helping the company continue its diversification policy in new market segments. Currently, almost 50,000 VTG wagons are in circulation throughout Europe.
Rail Logistics develops new customer groups and growth potential
With the acquisition of the French rail logistics company TMF, which became effective at the start of the fourth quarter of 2010, this division expanded its agricultural product transport related range of services. Business units in the Czech Republic and in Serbia were also founded. These strategic measures as well as additional alliances abroad have resulted in new opportunities for growth in the Rail Logistics Division.
Growth strategy developed for the Tank Container Logistics Division
In 2010, high demand for transport services in all regions led to exponential growth in this devision. Revenue rose by 27.7 percent to EUR 144.5 million, and EBITDA increased by 53.1 percent to EUR 11.2 million. The EBITDA margin on gross profit could also be increased, from 41.4 percent in 2009 to 45.4 percent in 2010.
Investment in growth and quality
Outlook for 2011: Upward business trends in all three business divisions
VTG's Board intends to propose a payment of a EUR 0.33 dividend for the financial year 2010 at the 2011 Annual General Meeting, representing a 10 percent dividend increase in conformity with VTG's sustained dividend policy.
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies. The company has the largest private wagon fleet in Europe. Globally, the fleet consists of some 50,000 wagons, with a focus on tank cars and state-of-the-art high capacity freight cars and flat cars. In addition to the hiring of wagons, the Group offers global tank container transports and comprehensive multi-modal logistics services, mainly around rail transport.
With the combination of its three interlinked divisions Wagon Hire, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries.
In the financial year 2010, VTG generated revenue of EUR 629.4 million and operating profit (EBITDA) of EUR 154.4 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia and North America. As at 31 December 2010, VTG had 999 employees worldwide in consolidated companies. Since June 2007, VTG AG has been listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX (WKN: VTG999).
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
Investor Relations contact:
Head of Investor Relations
Telephone: +49 (0) 40 23 54-1351
Fax: +49 (0) 40 23 54-1350
Further information at www.vtg.com
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