DGAP-News: VTG ends the 2014 fiscal year with a very good result and reinforces its position by acquiring AAE
VTG Aktiengesellschaft / Key word(s): Final Results
VTG ends the 2014 fiscal year with a very good result and reinforces its position by acquiring AAE
- Group revenue increases by 4.4 percent, EBITDA by 4.0 percent
- Railcar Division utilization rate continually increasing
- Logistics units paint a heterogeneous picture
- 7 percent dividend increase proposed
- VTG acquires AAE: 2015 revenues should hit the billion mark
Hamburg, April 14, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of Europe's leading wagon hire and rail logistics companies, successfully enhanced its business, continued its course of growth and implemented key strategic measures in 2014. The Group presented its audited figures for 2014 at its financial statements press conference in Hamburg today. According to these results, Group revenue increased by 4.4 percent to EUR 818.3 million. Operating profit (EBITDA) also developed at a positive rate, rising by 4.0 percent to EUR 191.0 million.
"I am delighted that we were yet again able to close the year with a very good result", said Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. "In acquiring AAE, we have not only significantly expanded our wagon fleet in terms of structure and size, but we have also increased our product range and have thereby managed to make rail transportation even more attractive for our customers. We now have to fully integrate the new business into our existing operations and also make effective use of the new opportunities available to our logistics units. It is important that we maintain the neutrality of all of our business divisions in the process."
Disproportionate increase in Group revenue
Positive development in the Railcar Division
The principle reason behind this positive development was the delivery of approximately 1,800 new-build wagons. For instance, 350 bulk freight wagons enhanced the fleet in Russia and additional new-build wagons were constructed for the steel, agricultural and oil industries. Fleet utilization increased to 91.0 percent (2013: 89.8 percent).
Logistics units exhibiting a mixed picture
Despite fierce competition in the market, the Tank Container Logistics Division was able to maintain its position in 2014. Various developments also occurred in the individual regional markets: although the number of European transports increased, the Asian and American markets were only able to remain stable. As a consequence, Tank Container Logistics revenue amounted to EUR 150.9 million and therefore almost achieved the previous year's result (EUR 152.3 million). At EUR 12.8 million, EBITDA was 38.7 percent over the previous year's figure (EUR 9.2 million) and the EBITDA margin on gross income, which reached 48.9 percent, was also above the previous year's result (38.1 percent).
2015 strategy: growth course and dividend increase
As of December 31, 2014, the number of VTG Group employees increased to 1,312 (previous year: 1,191). The increase is primarily due to the implemented merger with Kuehne + Nagel's rail logistics activities. 909 employees worked in Germany (previous year: 846), of which 398 were in Hamburg (previous year: 390). Therefore 403 employees worked at the foreign subsidiaries (previous year: 345).
Key figures for the VTG Group
* EBITDA margin related to gross income
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies, with a fleet consisting of more than 80,000 railcars. VTG offers a full-range service, providing tank cars, intermodal wagons, standard freight wagons and sliding wall wagons. 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 2014, VTG generated revenue of EUR 818.3 million and operating profit (EBITDA) of EUR 191.0 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 2014, VTG had 1,312 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).
Investor Relations contact:
For more information visit www.vtg.de
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