DGAP-News: VTG is expanding in every division
VTG Aktiengesellschaft / Key word(s): Half Year Results/Interim Report
VTG is expanding in every division
- Significant increase in revenue and EBITDA
- AAE acquisition ensures positive trend in earnings
- Turnaround in Rail Logistics proceeding
- Strong development in Tank Container Logistics
- 2015 forecast reaffirmed
Hamburg, August 27, 2015. VTG Aktiengesellschaft (WKN: VTG999), one of the leading wagon hire and rail logistics companies in Europe, experienced growth in all three divisions in the first half of 2015. Group revenue rose by 26.6 percent, from EUR 404.7 million to EUR 512.3 million. The EBITDA also climbed significantly from EUR 90.2 million to EUR 168.0 million, representing an increase of 86.2 percent. The acquisition of AAE at the beginning of the year is reflected in the figures. In addition, all three divisions have contributed to the growth of the company with their results.
"VTG has taken a significant step forward in the first half of this year. We are on schedule with the integration of AAE and we are already able to demonstrate that the takeover has had a positive impact on our earnings trend", said Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. "I am particularly pleased about the progress made in the Rail Logistics Division. The considerable effort and consistent implementation of the newly introduced structure have enabled us to improve our margins yet again."
At EUR 18.1 million, Group profit clearly exceeds the figure for the preceding year (first half of 2014: EUR 7.8 million). On the basis of the additional number of shares issued through the capital increase in January 2015, earnings per share increased to EUR 0.42 (first half of 2014: EUR 0.40). The equity ratio increased by 4.1 percentage points from 20.3 percent to 24.4 percent, thereby benefitting from both the issuance of the new shares at the beginning of the year and from the equity-equivalent hybrid bond, placed by the end of January.
Integration process: the main focus for the Railcar Division
In the Railcar Division, revenue reached EUR 272.4 million for the first half of 2015 (previous year: EUR 173.2 million). This 57.3 percent increase is attributed to both the acquisition of AAE as well as the positive performance of the previous VTG Railcar Division. Accordingly, the EBITDA was up by 84.5 percent to EUR 167.6 million, which is significantly higher than the previous year's figure (EUR 90.8 million). The EBITDA margin related to revenue amounted to 61.5 percent (previous year: 52.4 percent). Fleet utilization was exactly on a par with the previous year's level, at 90.2 percent.
The Rail Logistics turnaround is making strides - Positive development in Tank Container Logistics
Revenue in the Tank Container Logistics Division increased significantly in the first half of 2015 to EUR 82.2 million, which was EUR 8.0 million above the same period of the previous year (EUR 74.2 million). The EBITDA increased to EUR 6.6 million compared with the EUR 5.5 million achieved in the first half of the previous year. At 49.2 percent, the EBITDA margin on gross income was also above the previous year's 46.1 percent equivalent. The positive development is attributable to three effects: the transport volume in Europe and overseas rose and the appreciation of the US dollar against the euro also had a positive impact on the result, as did a one-off contribution from the sale of a non-consolidated holding company.
VTG expects positive business development for 2015 and reaffirms forecast
Key Figures for the VTG Group
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 rail 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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