DGAP-News: In 2012, VTG focuses on integration, innovation and investment
VTG Aktiengesellschaft / Key word(s): Preliminary Results/Forecast
- Revenue rises by 2.3 percent, EBITDA by 3.0 percent
- Capacity utilization at 90.4 percent
- Innovation and investment in construction of new wagons increase competitiveness
- Logistics divisions: difficult market environment but also new businesses
- VTG continues with dividend policy, with proposal of EUR 0.37
- Further investment planned for 2013, with anticipated growth in income
Hamburg, February 20, 2013. VTG Aktiengesellschaft (WKN: VTG999), one of Europe's leading wagon hire and rail logistics companies, today announced its preliminary unaudited figures for the financial year 2012. Compared with the previous year, revenue for the Group increased by 2.3 percent to EUR 767.0 million. Operating profit (EBITDA) increased by 3.0 percent compared with 2011, reaching a level of EUR 173.8 million. These figures fell within the middle of the range forecast in February 2012, with the overall result in fact more positive than anticipated mid-year 2012. In addition to this positive development, the year was one of many innovations and substantial investment in the wagon fleet as well as new business in the Rail Logistics Division.
'We ended the last year much better than expected. Primarily as a result of the positive trend in the Railcar Division, we were able to make up ground and iron out the slight dent from the first half of the year and achieve a pleasing overall result', says Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft, adding: 'In 2012, we worked intensively on the expansion and competitiveness of our wagon fleet. Thus more than 1,700 new wagons were constructed, delivered and hired out to customers directly. The technological solutions that we have realized for our customers represent a clear step forward in terms of innovation, process optimization and quality.' Moreover, VTG has integrated the new operations in Russia into the Group and made the preparations there for further growth.
Innovation in new wagon construction, strict cost management in Railcar Division
A mixed picture in the logistics divisions
The Tank Container Logistics Division competed on the global markets in 2012. Slight excesses of capacity, strong price pressure and higher costs, however, resulted in generally restrained growth. Revenue increased by 2.5 percent to EUR 155.5 million, while EBITDA shrank by 8.7 percent to EUR 11.9 million. A total of 10,100 containers were in use for Tank Container Logistics. To respond to the pressure on the margins, the focus remained on optimizing transport processes, with improved productivity in loading and unloading. Moreover, VOTG transported its first loaded containers by rail from Shanghai via Vladivostok to Germany. This route, which is being operated for the first time from east to west, represents a possible alternative to sea transport in the event of disturbances, for instance in transport via the Suez Canal.
As of December 31, 2012, VTG had 1,188 employees worldwide, an increase of 18 on 2011. Of these, 838 were employed in Germany (previous year: 778), 385 in Hamburg (previous year: 360). The number of employees in the companies outside Germany was therefore 350 (previous year: 392).
In 2013, VTG focuses on further investment and expansion of growth areas
The Executive Board of VTG intends to propose to the 2013 Annual General Meeting the payment of a dividend of EUR 0.37 for the financial year 2012. This dividend increase of about 6 percent reflects the policy of VTG Aktiengesellschaft of reliably continued payment of dividends.
VTG Aktiengesellschaft is one of Europe's leading railcar leasing and rail logistics companies. The company has the largest private railcar fleet in Europe. Globally, the fleet consists of some 54,100 railcars, 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 comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.
With the combination of its three interlinked divisions Railcar, 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 2011, VTG generated revenue of EUR 750.0 million and operating profit (EBITDA) of EUR 168.7 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia, Russia and North America. As at 31 December 2011, VTG had 1,170 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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